Nanotechnology Drug Delivery Market Expects North America to Hold Highest Share Till End of Forecast Period
The Nanotechnology Drug Delivery Market
deals with the development of nanotechnology in drug delivery. Nanotechnology drug delivery is a new technology which is developed to deliver drugs to treat diseases. Generally, this technology is used in health-care applications like neurology, oncology, cardiovascular disorders, Anti-infective and some others.
Based on the technology, Nanotechnology Drug Delivery Market is segmented as nanocrystals, nanoparticles, liposomes, micelles, nanotubes and others. Among all, the nanoparticles segment has dominated the market. The nanotubes segment is expected to expand and to register high growth rate during the forecast period. One important and active application area of nanotechnology drug delivery systems is to transport drugs to the final location of therapeutic intervention within the body.
Various factors like development of efficient and advanced nanotechnology, expanding the research on nano drug delivery system, growing government initiatives and increasing awareness among people are the major growth drivers of the Nanotechnology Drug Delivery Market. In addition, rising demand for novel drug delivery is also drives significant growth for the market. This market is expected to register high growth due to rising chronic diseases like cancer and diabetes.
However, higher production cost and higher costs for research and development are the major restrains for the market growth. But, increasing adoption of nanotechnology in drug delivery in emerging nations like India and China are the creating many growth opportunities for the Nanotechnology Drug Delivery Market. Among all the applications, neurology procedures holds the highest market shares.
North America is dominating the Nanotechnology Drug Delivery Market, due to high medical reimbursement facilities and technological advancement. Asia-Pacific is holding the second position followed by Europe. Also, Asia-Pacific is projected to register the fastest growth due to rapidly increasing population, modernized health-care infrastructure and growing medical tourism industry in emerging nations like India and China.
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