U.S. Demand for Nanotechnology Medical Products to Approach $53 Billion in 2011
U.S. Demand for Nanotechnology Medical Products to Approach $53 Billion in 2011
May. 9, 2007 07:53 PM
CLEVELAND, OH -- (MARKET WIRE) -- 05/09/07 -- Demand for nanotechnology medical products
will increase over 17 percent per year to $53 billion in 2011. Afterwards,
the increasing flow of new nanomedicines, nanodiagnostics, and
nanotech-based medical supplies and devices into the U.S. marketplace will
boost demand to more than $110 billion in 2016. These and other trends are
presented in "Nanotechnology in Healthcare," a new study from The Freedonia
Group, Inc., a Cleveland-based industry research firm.
The critical need for new or improved therapies for many medical conditions
will promote the adaptation of nanotechnology to an expanding number of
pharmaceuticals. The total market for nanomedicines will command strong
growth over the long term. Treatments based on humanized monoclonal
antibodies, nanopolymers and nanoproteins will drive gains, with compounds
for cancer, heart diseases, neurological disorders and viral infections
leading new product introductions and growth opportunities.
Advances in nanotechnology will also contribute significant improvements to
the quality and performance of medical diagnostic products. Nanosized
monoclonal antibody labels and DNA probes will greatly enhance the speed,
accuracy, capabilities and cost-effectiveness of in vitro diagnostic
testing, drug discovery and medical research procedures. Nanoparticle
formulations of superparamagnetic iron oxide, gadolinium, perfluorocarbon
and specialty polymers will broaden in vivo imaging capabilities. Several
medical supplies and devices will emerge as key applications for
nanotechnology. Nanomaterials are already gaining significant demand as
active ingredients of burn dressings, bone cement, bone substitutes, and
dental repair and restoration products.
The greatest short-term impact of nanotechnology in health care will be in
therapies and diagnostics for cancer and central nervous system disorders.
Gradually, many other major diseases, as well as injuries, will be treated
and detected routinely by nanotechnology products. By 2016, nanoimplants
will be widely employed in orthopedic procedures and begin to gain
experimental uses in tissue and neuron regeneration. By 2021,
nanotechnology will serve applications that extend into most areas of
critical and chronic care. Additionally, the development of monoclonal
antibody and nanomaterial vaccines and, to a lesser extent,
controlled-release nutritional preparations will create a large preventive
medicine market.
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