Nanobiotechnology is one of the most promising technologies in the 21st century. It plays a significant role in developing and implementing many useful tools in the study of life. Its application in medicine involves disease diagnosis, target specific drug delivery and molecular imaging. It used in agriculture and food sectorsand is used in nanofertilizers, nanoinsectisides, nanopestisides, and othersuch chemicals.
The global nano biotechnology market is driven by several factors, suchas increasing investment in nano biotechnology research and high demand for treatment of critical diseases. Nanobiotechnology is the interface of nanotechnology and biotechnology that includes special physicochemical and biological properties of nanostructures and their applications in numerous fields such as medicine and agriculture.
According to MRFR analysis, the global nano biotechnology market is expected to register a CAGR of~10.0% from 2021 to 2027 and hold a value of over ~USD 9,500 million in 2027.
North America is likely to dominate the nano biotechnology market, owing to high investment in the RD projects, new product development, government initiatives for strengthening healthcare system, and increasing demand from end users. The pharmaceutical companies in the US are investing heavily in RD activities for medicines and medical devices. Rising prevalence of chronic diseases such as cardiovascular diseases has led to a huge demand for innovative treatment options for such diseases. This has triggered the companies to invest in RD activities to develop new advanced products
Europeis likely to account a significant share in the nano biotechnology market due to high demand for technological advanced products and established RD facilities across the region. In addition, countries such as Germany, Sweden, the UK, France, and Switzerland are also investing heavily in RD activities for nanobiotechnology.
Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period due to increasing investment in healthcare infrastructure andrising prevalence of chronic diseases such as cardiovascular and neurological diseases. In addition, increasing government funding for strengthening healthcare system is creating opportunities for the industry players.
Furthermore, the growth of the market in the Rest of the World is attributed to the technological advancements in medical science and the increasing funding for development of healthcare infrastructutre throughout the region
The global nano biotechnology market has been segmented into application and therapeutics.
By application, the market has been segmented into pharmaceuticals, medical devices, medical research, and food and agriculture.The pharmaceutical segment heldthelargest share of the market in 2020, due to high investments in RD activities for the development of innovative drugs for treatment of chronic diseases.
Based on therapeutics, the global nano biotechnology market has been classified asdental therapies, cardiac therapies, orthopedic therapies, and others. The cardiac therapies segment held the largest segment share in 2020, due to the risingprevalence of cardiovascular disorders across the globe.
Some of the key players in the global nano biotechnology marketareAblynx (Belgium), Nami Therapeutics (US), Celgene Corporation (US), Nanophase Technologies Corporation (US), Sigma-Aldrich (US), SkyePharma Pharmaceuticals (France), Nano Bridging Molecules SA (Switzerland), XanTec bioanalytics GmbH (Germany), Nanobiotix (France), and Dabur Pharma (India).