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Nanoparticles Market to grow at highest pace owing to rising medical applications

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Saya Bonde
Nanoparticles Market to grow at highest pace owing to rising medical applications

The nanoparticles market involves products that are manufactured at the molecular scale level between 1 to 100 nanometers. Nanoparticles find applications in various industries such as healthcare, electronics, personal care products and energy storage due to their unique physical and chemical properties compared to macroscale particles. In the medical field, nanoparticles are increasingly being used for targeted drug delivery, contrast agents for medical imaging, transfection agents for therapeutics and vaccine development. The global demand for biocompatible nanoparticles is rising owing to growth in the field of regenerative medicine and tissue engineering. Advancement in nanotechnology has led to development of multifunctional nanoparticles that can diagnose and treat diseases like cancer at the same time, thus driving significant opportunities.

The Global Nanoparticles Market is estimated to be valued at US$ 16,700.18 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the nanoparticles market are Abraxis Biosciences, Inc., Novartis International AG, Gilead Sciences, Inc., Johnson & Johnson, Sigma-Tau Pharmaceuticals, Inc. Amgen, Inc., and Nano Interface Technology, Inc., Malvern Instruments Ltd., Horiba Ltd., Beckman Coulter, Shimadzu Corporation, Agilent Technology Inc., Hitachi Ltd., Wyatt Technology, among others. Rising demand for targeted drug delivery systems and contrast agents for medical imaging has meant increased revenue for leading players.

Advancements in the field of nanomedicine have opened up new opportunities for development of multifunctional nanoparticles for diagnosing and treating cancer and other chronic diseases. Nanoparticles are being engineered to carry both therapeutic and diagnostic payloads to tumor sites which can help achieve personalized medicine goals.

Market Trends

multifunctional nanoparticles- Major players are investing in R&D to develop multifunctional nanoparticles that can diagnoses diseases as well as deliver targeted treatment. Nanoparticles carrying both imaging and therapeutic agents can help achieve personalized medicine goals.

point-of-care diagnostics- Advancement in the field of microfluidics and nanotechnology has enabled development of portable, low-cost diagnostic devices. Coupling of nanoparticles with microfluidic technologies is expected to revolutionize point-of-care testing.

Market Opportunities

regenerative medicine- Use of nanoparticles in tissue engineering and regenerative medicine applications is a promising opportunity. Nanoparticles can help promote tissue regeneration, offer protection and enhance wound healing.

medical implants- Growing demand for biodegradable medical implants coated with nanoparticles presents a notable opportunity. Nanoparticle coatings help enhance antibacterial activity, biocompatibility and osteoconductivity of implants.

Impact of COVID-19 on Nanoparticles Market growth

The COVID-19 pandemic has adversely impacted the growth of the nanoparticles market. Government imposed lockdowns and social distancing measures led to disruption in manufacturing and supply chain activities globally. This affected the production and availability of nanoparticles. Laboratories were shut down which impacted ongoing R&D activities and delayed new product development.

The healthcare industry presents the largest end use segment globally for nanoparticles market. Advancements in drug delivery, bioimaging and medical devices have increased demand. Within healthcare, cancer treatment applications including drug delivery for chemotherapy see maximum usage of various types of nanoparticles like dendrimers, quantum dots and metallic nanoparticles. Sustained investments in medical research are expected to ensure stable long term demand from the healthcare segment.

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