Global Nanopharmaceuticals Market, by Carrier Type (Liposomes, Polymer, Nanocrystals, Inorganic, Protein, and Others), by Application (Oncology, Neurology, Anti-inflammatory, Anti-infective, Cardiovascular, and Others), by End User (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 28,434.3 million in 2017, and is projected to exhibit a CAGR of 22.1 % over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
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Key players in the market are focused on research and development of nanopharmaceuticals in order to develop novel products to address the critical unmet needs of patients. According to the P&T Community Journal, December 2017, DTXSPL8783, dendrimer for cancer treatment is being investigated, which is in clinical trials of phase 1 study, for patients with advanced cancer.
Similarly, Vivagel developed by Starpharma, is in phase 3 clinical trials, for bacterial vaginosis. Vivagel sale is approved in Europe and Australia. Moreover, increase in incidences of cardiovascular diseases and other diseases, is expected to boost the market growth. According to World Health Organization, factsheet 2017, around 17.9 million deaths were recorded due to cardiovascular diseases in 2016. Cardiovascular diseases was recorded as the leading cause of death, globally.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance its product portfolio. For instance, in December 2018, Novartis acquired Endocyte, Inc., involved in developing Radioligland and other therapies for treatment of cancer. This acquisition helped Novartis to strengthen its position in cancer treatment and expand its products offering to align better healthcare.
Increasing prevalence of cardiovascular diseases, cancer, and infectious diseases are major factors driving nanopharmaceuticals market growth. The World Health Organization, factsheet September 2018, estimated around 10 million cases of tuberculosis and around 1.6 million deaths from the disease in 2017. Moreover, advantages of nanopharmaceuticals over macroscopic level medicines is expected to boost the market growth. Nanopharmaceuticals can pass the blood brain barrier and can access the remote areas of brain as well as low solubility of the compound can be developed for enhancing its characteristics.
Moreover, key players in the market are focused on receiving the U.S. Food and Drug Administration (FDA) approval for novel products to treat patients. For instance, in May 2017, NovoNodisk received Food and Drug Administration (FDA) approval for glycopegylated Rebinyn, which is used to control bleeding and bleeding management in patients diagnosed with hemophilia B.
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Major players operating in the global nanopharmaceuticals market include Abbott, GlaxoSmithKline plc., Eli Lilly and Company, Astrazeneca plc., Novavax, Inc., Stryker Corporation, OSI Pharmaceuticals, Kadmon Pharmaceuticals, Samyang Biopharm, Mitsubishi Tanabe Pharma Corporation, Kaken Pharmaceutical, Selecta Biosciences, Par Pharmaceutical, Cerulean Pharma Inc., Navidea Biopharmaceuticals, Inc., AbbVie Inc., AMAG Pharmaceuticals, Amgen Inc., Astellas Pharma Inc., Celgene Corporation, Gilead Sciences, Inc., JOHNSON & JOHNSON, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Hoffmann-La Roche AG, Sanofi S.A, Shire Plc., and Teva Pharmaceuticals Industries Limited.