Nanopharmaceuticals Market: Overview
Nanopharmaceuticals are revolutionizing medical science by leveraging nanomedicine to render effective healthcare, especially in developing countries. The technology is yet in evolution stages and promises to bring advancement not only in therapeutics but also in detecting diseases and targets. Also, one factor that is making it popular is its cost-effectiveness.
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Rise in the incidence of chronic diseases such as infectious diseases, cancer, and cardiovascular diseases, is paving way for expansion of nano-pharmaceuticals market. Nanopharmaceuticals are also referred to as nanotechnology-based pharmaceuticals. The advancement is becoming an integral part of medical science and has potential to treat diseases at cellular level.
Primarily, nanopharmaceuticals are particles in the size range 10 to 1,000 nanometers of specific matter used to manufacture drugs. As a result of composition and shape, the medicines have several benefits to offer over the normal medicines.
The report on nanopharmaceuticals market offers insights about the latest developments in the field. Besides, it targets the potential drivers which will help in the expansion of the market in the tenure of forecast period. Later, the market intelligence offers details about particular segments dominating in specific regions.
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Nano-pharmaceuticals Market: Trends and Opportunities
Increase in the incidence of chronic diseases such as cancer, infectious diseases, and cardiovascular diseases, is one of the main factors fuelling nano-pharmaceuticals market. Prominent players in the nano-pharmaceuticals market are investing on large scale in order to introduce improved medicines in the market.
The advancements in the nanopharmaceuticals are likely to address therapeutics for critical diseases, which are yet to be explored. This can be explained by an example of Jazz Pharmaceuticals, a key player of nano-pharmaceuticals market. In August 2017, the company received FDA approval for Vyxeos. Vyxeos is basically used for the treatment of acute myeloid leukemia.
Registering the pace of research and developments underway for nanopharmaceuticals, global nano-pharmaceuticals market is projected to grow at a significant pace in the course of the forecast period.
On the other side, factors such as less solubility of nano-pharmaceuticals, toxicity issues, and its functioning need to be addressed on a wider scale. If not, these factors may hinder the growth of the nanopharmaceutical market in the tenure of forecast period.
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Nanopharmaceuticals Market: Regional Outlook
As a result of substantial advancement in the research and development activities in North America, the region is expected to dominate in the global nano-pharmaceuticals market. Besides, the region is witnessing rapid adoption rate of nano-pharmaceuticals for advanced therapeutics. Also, presence of prominent players is another main factor which is fuelling the expansion of nano-pharmaceutical market.
Due to presence of large number of players in the nano-pharmaceuticals market, the competition is also intense. These players are bringing several strategies and developments in the market to gain foothold in the market. Prominent players are expanding their reign by acquisitions, merging and collaborations. Some of the prominent players in the market are- Teva Pharmaceuticals Industries Limited, JOHNSON & JOHNSON, Shire Plc., Novartis AG, Hoffmann-La Roche AG, Pfizer Inc., Merck & Co., and Sanofi S.A.
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Nano-pharmaceuticals Market: Competitive Analysis
Some of the key players in the nanopharmaceuticals market are JOHNSON & JOHNSON, Sanofi S.A, Hoffmann-La Roche AG, Teva Pharmaceuticals Industries Limited, Novartis AG, Merck & Co., Shire Plc., and Pfizer.
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