Nanomedicines belong to a niche field where nanotechnology is combined with pharmaceuticals and other biomedical sciences. Injectable Nanomedicines Market, if manufactured properly, can emerge as medicines with higher efficacy and safer toxicology profiles. They can be functional in several clinical cases for drug delivery and drug formulation. Currently, nanomedicines account for a small revenue share in the entire nanotechnology-based nanomaterial market as nanomaterial is used in most of the working sectors. The rise of injectable nanomedicines is projected to lead to better outcomes and medicines for therapeutic areas such as cancer, CNS disease, cardiovascular disease and infection control. Nanotechnology is used in vivo imaging, in vitro diagnostics, active implants and biomaterials.
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Some of the primary revenue drivers of the market are the increasing usage of injectable nanomedicines as delivery vectors and probes for biological diagnostics, imaging and therapeutics, given their extremely small size. The smaller the surface area, the larger is the space available for chemical interaction with biomolecules. Increased focus on selective drug delivery and targeted therapies is another important factor boosting the demand for injectable nanomedicines. These medicines are witnessing high demand in research pertaining to regenerative medicines and in-situ tissue regeneration.
On the other hand, lack of adequate sterile manufacturing facilities as well as the lack of knowledge in developing markets are among factors restraining the growth of the market. Another critical factor that is expected to hamper the growth of the market is the increasing availability and market penetration of cheaper generics in developed as well as developing markets. Some of the other factors that are likely to restrain the generation of revenue for the market are long drug-approval timelines from regulatory authorities, the requirement of large capital and reduction in the R&D budgets of drug makers.
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The global market for injectable nanomedicines is niche, with approvals for only a few drugs but a large and attractive drug pipeline. Increased focus on targeted medicines for personalised therapies is fuelling the demand for injectable nanomedicines. Developed markets have the largest potential for revenue expansion as compared to emerging markets. Awareness about the developing products and processes, coupled with the active participation of patients in treatment-seeking processes are among factors projected to increase the demand for injectable nanomedicines. The rising availability and accessibility to cheaper generics is another factor that poses serious competition for the R&D and sales of these expensive drugs. The injectable nanomedicines market is estimated to expand at a significant CAGR over the forecast period with developed markets outweighing the market share by the revenues derived. Increase in the adoption of personalised treatments for infectious diseases, cancers and autoimmune diseases for the benefit of the patient population is aiding the penetration of injectable nanomedicines.
Injectable Nanomedicines Market: Region-Wise Outlook
Geographically, the injectable nanomedicines market is classified into eight regions: North America, Western Europe, Eastern Europe, Latin America, Asia-Pacific Excluding China & Japan, Japan, China and the Middle East & Africa. The North America market is estimated to account for a significant market share by drug sales due to the availability of progressive healthcare facilities, increased focus on disease surveillance and the availability of skilled manpower for the R&D of drugs. The availability of large GMP-certified in-house sterile manufacturing facilities as well as those through contract manufacturers are among factors that increase the revenue attractiveness of the Western Europe market, which is estimated to emerge as the second-largest market for injectable nanomedicines. Markets in the Asia Pacific region are expected to grow rapidly owing to the high demand emanating from the incidence of infectious diseases in the region. The Japan and China markets are expected to expand rapidly in terms of revenue generation owing to greater focus on drug R&D and the availability of fast-track approval processes from relevant regulatory authorities for injectable nanomedicines throughout the forecast period.
Injectable Nanomedicines Market: Key Players
Some of the major players in the global injectable nanomedicines market are Merck & Co., Inc.; Osartis GmbH & Co. KG; Wyeth Pharmaceuticals Inc.; Orthovita, Inc.; Novartis; Abbott; Pacira Pharmaceuticals; QLT Phototherapeutics; Celgene Pharmaceutical Co. Ltd. and Amgen, Inc.,. Transparency in R&D and the availability of fast-track drug approval processes are some of the key strategies that are being followed by leading players in the injectable nanomedicines market to minimise the cost and time to market.
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