by Nanotechnology helps improve the solubility, bioavailability, and stability of drugs while targeting diseased cells and controlled release at target sites, reducing side effects. Researchers are developing nanocarriers for nucleic acid and gene therapies using nanotechnology approaches.
The global nanotechnology drug delivery market is estimated to be valued at US$ 203.21 billion in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the nanotechnology drug delivery market include AbbVie Inc., Geistlich Pharma AG, Alkermes plc, Amgen Inc., AngioDynamics Inc., Arrowhead Pharmaceuticals Inc., BIND Therapeutics Inc., Capsulution Nanoscience AG, Celgene Corporation, Johnson & Johnson, Nanobiotix, Nanocarrier Co. Ltd., Merck & Co. Inc., Novartis International AG, Pfizer Inc., Sanofi SA, SkyePharma PLC, and Starpharma Holdings Limited. The growing prevalence of chronic diseases along with the demand for innovative therapies is a major factor propelling the growth of the nanotechnology drug delivery market. Nanomedicine approaches allow targeted delivery of drugs to specific cells and tissues, minimizing toxicity and side effects.
Leading pharmaceutical companies are investing in R&D to develop nanotechnology-based formulations. The increasing collaboration between pharmaceutical and nanotech companies is further fueling innovation. Major players are expanding their global footprint through acquisitions and partnerships to gain access to new technologies and strengthen their product portfolios. The ability to deliver both small and large molecule drugs, monitor drug release, and image drug delivery make nanotechnology a promising approach for developing advanced therapeutics.
Market key trends
One of the key trends gaining traction in the Nanotechnology Drug Delivery Market Demand is active targeted drug delivery. Nanocarriers can be functionalized with ligands that selectively bind to receptors overexpressed on diseased cells, allowing active targeting of drugs. This helps concentrate the drug at the target site and reduces systemic side effects. Companies are developing multifunctional nanocarriers for theranostics applications, enabling simultaneous delivery, therapeutic efficacy and imaging of the target disease site for improved diagnosis and treatment outcomes. Continuous technological advancements will further expand the potential of nanotechnology to revolutionize drug delivery approaches.
Porter’s Analysis
Threat of new entrants: The nanotechnology drug delivery market requires substantial R&D investment and time to develop new drugs. This acts as a barrier for new companies to enter the market.
Bargaining power of buyers: Individual customers have low bargaining power due to lack of alternatives and need for specialized treatment. However, large buyers like hospitals have higher bargaining power.
Bargaining power of suppliers: Few companies have expertise in nanotechnology based drug development. This gives suppliers higher bargaining power in the market.
Threat of new substitutes: Alternatives for drug delivery through other means pose potential threat. However, nanotechnology provides improved targeting which is not substitutable.
Competitive rivalry: The market is dominated by few large players. Intense competition exists among these players to develop innovative drugs and target larger customer segment.
Geographical Regions
North America accounts for the largest share of the nanotechnology drug delivery market in terms of value. This is attributed to increasing funding for nanotechnology research, strong economic conditions and healthcare infrastructure in the region.
Asia Pacific region is expected to witness the fastest growth during the forecast period. This is owing to growing unmet medical needs, rising healthcare expenditure, and improving regulatory framework in emerging countries like China and India. Increasing awareness and adoption of advanced treatment options also supports market growth in the region.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
