According to the research report titled ‘Global Healthcare Nanotechnology (Nanomedicine) Market Size study, by Diseases (Cardiovascular Diseases, Oncological Diseases, Neurological Diseases and Others), Application (Drug Delivery, Biomaterials, Active Implants and Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global healthcare nanotechnology (nanomedicine) market was assessed at USD 196.47 billion in 2019 and is projected to reach USD 482.99 billion by 2027, recording a y-o-y growth rate of 11.9% between 2020-2027.
 

Increasing investments in urgent care along with growing geriatric population, and strategic partnership among hospitals and manufacturers will spur global healthcare nanotechnology(nanomedicine) market growth in the upcoming years. Moreover, rising occurrence of diseases like cancer, Alzheimer’s, diabetes, Parkinson’s, and others, coupled with technological developments for early diagnosis and preventive interventions will boost industry expansion.
 

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For the unversed, healthcare nanotechnology involves nano-formulations of new or existing drugs and helps in enhancing human health by providing cures for fatal diseases of cardiovascular system, lungs, blood, and others.  
 

The report cites that leading players have made strategic decisions like investments in R&D and new product launches, which will facilitate industry expansion. Citing an instance, Medtronic plc introduced a new Adaptix Interbody System in 2020 which is equipped with Titan nanoLOCK surface technology for navigated titanium spine implants. Similarly, Nanobiotix S.A. received CE approval for its product Hensify (NBTXR3) in 2019, which are basically nanoparticles that can be injected directly into a tumor.
 

On the other hand, high cost of product as compared to conventional medicines, strict regulatory measures, and low awareness among patients in developing economies are poised to hinder global healthcare nanotechnology (nanomedicine) market growth over the forecast period.
 

Based on disease type, worldwide health nanotechnology (nanomedicine) market is bifurcated into oncological diseases, neurological diseases, cardiovascular diseases, and others. Speaking of application scope, the industry is divided into drug delivery, biomaterials, and active implants among others.
 

Regionally speaking, North America held a significant share of the global healthcare nanotechnology (nanomedicine) market in the recent past due to rising geriatric population, investments in R&D, well developed healthcare facilities, and affordable & easy availability of products in the region.
 

Meanwhile, Asia Pacific market is estimated to grow rapidly between 2020-2027, owing to enhancement in healthcare infrastructure, rising research grants & international research collaborations, and growing number of venture capital investors from emerging countries. 
 

Key players profiled in the report are Abbott Laboratories, Celgene Corporation, Invitae Corporation, Pfizer Inc., Johnson & Johnson, GE Healthcare, Mallinckrodt Pharmaceuticals, Nanosphere Inc., Sigma-Tau Pharmaceuticals Inc., and Merck & Co. Inc.