Nanomedicine is the use of nanotechnology and nanomaterials to diagnose, monitor, control, prevent, and treat severe and chronic diseases. The revolutionary technology has recently been applied in numerous fields, and a large number of applications and products containing nanomaterials or claiming to be nano-based are now available. Because of their small size, nanomaterials have distinct physiochemical properties, which has increased the opportunities for their use in drug development. The incorporation of nanomaterials into biology has sped up the development of diagnostic devices, contrast agents, physical therapy applications, and drug delivery vehicles. The use of nanomaterials in drug delivery has significantly increased bioavailability and reduced the risk of side effects, improving drug efficacy.
The global Nanomedicine Market is divided into four categories: modality, application, indication, and region. It is classified into drug delivery, diagnostic imaging, vaccines, regenerative medicine, implants, and others based on application. It is classified into oncological diseases, neurological diseases, urological diseases, infectious diseases, ophthalmological diseases, orthopaedic disorders, immunological diseases, cardiovascular diseases, and others based on indication. Based on modality, it is bifurcated into treatments and diagnostics. Regionally, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA. The global nanomedicine market is driven by emerging technologies for drug delivery, increase in adoption of nanomedicine across varied applications, rise in government support & funding, growth in need for therapies with fewer side effects, and cost-effectiveness of therapies.