New York,US, July 13, 2021 (GLOBE NEWSWIRE) -- Nano Biotechnology Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Nano Biotechnology Market Information by Application,Therapeutics, and Region - Forecast till 2027”, the market is forecasted to cross USD 9,500 Million by 2027 at 10% CAGR.
Market Scope:
Nano biotechnology is a hybrid of nanotechnology and biotechnology in which traditional microtechnology is combined with a molecular biological approach. It has the potential to progress medical science and, as a result, improve healthcare practises around the world. Nano biotechnology integrates nanotechnology with biotechnology, including nanostructures' unique physicochemical and biological features, as well as their applications in domains such as health and agriculture. One of the most promising technologies of the twenty-first century is nanobiotechnology. It is crucial in the development and implementation of numerous valuable tools for the study of life. Disease diagnostics, target-specific drug administration, and molecular imaging are some of the applications in medicine. It can also be used in agriculture and food.
Market Drives
The global nano biotechnology market is being driven by factors such as rising demand for new drugs in the pharmaceutical industry, expanded use of nano biotechnology electronics, energy generation, and biomaterials, and increased research and development investment. Nanobiotechnology is garnering a lot of money from businesses and governments all around the world. Several government agencies have boosted their R&D spending in nanobiotechnology in recent years. Companies are heavily investing in research and development in order to bring sophisticated items to market. These cutting-edge goods assist businesses in gaining a competitive advantage in the marketplace.
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Competitive Landscape
The Notable Players in Nano Biotechnology Market are:
- Nami Therapeutics (US)
- Celgene Corporation (US)
- Nanophase Technologies Corporation (US)
- Sigma-Aldrich (US)
- Ablynx (Belgium)
- SkyePharma Pharmaceuticals (France)
- Nano Bridging Molecules SA (Switzerland)
- XanTecBioanalytics GmbH (Germany)
- Nanobiotix (France)
- Dabur Pharma (India)
Market Restraints
The market's expansion is being hampered by the high cost of nanobiotechnology R&D. New items are developed with the help of R&D operations. It aids in the resolution of new or current difficulties, as well as the development of updated products. Pharmaceutical businesses spend about 17% of their sales on research and development. The creation of new medicines in the pharmaceutical business is a time-consuming and expensive process for corporations all over the world. Drugs for severe diseases have become increasingly difficult to come by. As a result, developing new treatments becomes more expensive.
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COVID-19 Analysis
The ongoing pandemic of COVID-19 emphasises the significance of immunizations. The present COVID-19 pandemic has impacted people all over the world and forced the closure of operational facilities all over the world. During the lockdown, the healthcare business faced extraordinary challenges. The production of medical devices and other healthcare products was halted as the manufacturing units were shut down. In addition, the supply chain for medical supplies was disrupted, resulting in an increase in warehouse inventories of manufactured goods. Nanobiotechnology has the potential to speed up the creation of vaccines. It also aids in the development of new medicine formulations with fewer adverse effects. Nano biotechnology will aid in the development of novel materials and gadgets for use in health, biomaterials, electronics, and energy generation in the future.
Market Segmentation
The market for nano biotechnology has been divided into two categories: applications and therapies.
Pharmaceuticals, medical devices, medical research, and food and agriculture have been separated by application. Due to strong investments in R&D operations for the development of novel pharmaceuticals for the treatment of chronic diseases, the pharmaceutical category held the greatest share of the market in 2020.
The global nano biotechnology market has been divided into four categories based on therapeutics: dental treatments, cardiac therapies, orthopaedic therapies, and others. Due to the increased frequency of cardiovascular illnesses around the world, the cardiac treatments section held the biggest market share in 2020.
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Regional Analysis
In 2021, North America will have the highest share of the nanobiotechnology market. High investments in R&D projects, well-established research institutions for product development, government measures to strengthen the healthcare system, and increasing demand from end users are all factors contributing to this share. The major players are investing in the R&D of new items in order to expand their businesses.
In 2021, the European nanobiotechnology market is expected to have a large market share. The market's expansion is fueled by a high demand for technologically improved items and well-established R&D facilities. Furthermore, government assistance, considerable investments by industry players, and the development of new goods with cutting-edge technology are all propelling market expansion.
Due to increased investment in healthcare infrastructure and rising prevalence of chronic diseases such as cardiovascular and neurological diseases, Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. Furthermore, increased government financing for the improvement of the healthcare system provides chances for industry players.
Furthermore, the market's expansion in the Rest of the World may be attributable to medical science's technical developments and increased financing for the construction of healthcare infrastructure across the region.
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