Global Nanotech Drug Delivery Market to Grow at 74% CAGR through 2016
The increasing knowledge about the molecular causes of diseases is driving the demand for more targeted and effective nanotechnology-enabled drug delivery therapies.
Research activities in healthcare have changed significantly in recent years. There has been a paradigm shift away from blockbusters drugs to a more personalized medicine approach as makers increasingly focus on formulating drugs based on the individual's unique genome and immune response.
Personalized medicines have gained significant popularity because they enable the medical profession to provide customized treatment to patients. Customized treatment is based on the genetic as well as medical profile of a patient.
The increasing knowledge about the molecular causes of diseases is driving the demand for more targeted and effective nanotechnology-enabled drug delivery therapies. According to a new report by Infiniti Research, the nanotechnology drug delivery market in the United States is predicted to grow at a compound annual growth rate (CAGR) of 84.79% through 2016. Infiniti Research also forecasts that the global nanotechnology drug delivery market is expected to grow at a 73.97% CAGR through 2016.
One of the most important applications of nanotech in medicine currently being developed involves employing nanoparticles to deliver drugs to specific types of cells, such as cancer cells. Nanotechnology drug delivery helps in delivering drugs directly to diseased cells, which allows direct treatment of those cells. This technique helps to avoid damage to healthy cells within the human body. Hence, drug delivery technology helps to increase the overall market success of a particular drug.
According to Infiniti Research, one of the main challenges in this segment is the increasing safety concerns. Studies have revealed that the use of various nanomaterials may cause a variety of toxic effects. Lack of FDA directives is another major factor hampering the growth of the Nanotechnology Drug Delivery market in the United States.
In the smart pill technology market, one of the key drivers in this market – forecast to grow at 6.9% – is the significant rise in the number of people suffering from GI disorders, which is mainly a result of changing lifestyles and food habits. Consequently, there has been an increase in the diagnosis and treatment of GI disorders.
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