Global Nanobiotechnology Market to Exhibit 8.5% CAGR from 2014-2021
Zion Research has published a new report titled “Nanobiotechnology Market for Drug Discovery, Drug Delivery, Diagnostics and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021” According to the report, the global nanobiotechnology market was valued at approximately USD 28 billion in 2015 and is expected to reach approximately USD 42 billion by 2021, growing at a CAGR of around 8.5% between 2016 and 2021.
Nanobiotechnology is the convergence of engineering and molecular biology. Nanobiotechnology has the ability to create biological and biochemical materials and devices at molecular and atomic levels. It provides new class of multifunctional systems and devices for biological analysis with better sensitivity and specificity. Nanobiotechnology comprises the application of the tools and processes of nanotechnology to control biological systems. The nanobiotechnology comprises new techniques such as 3D imaging in live cells, real-time imaging, and single molecule imaging bioanalytical microarrays and microfluidic devices and biosensors
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The major driving factor for the global nanobiotechnology market is rising health awareness among the people and emerging technology. Government initiatives and funding has provided strong boost to nanobiotechnology market in North America and Asia Pacific. Advancement in technology to provide better health services expected to fuel the nanobiotechnology market over the forecast period. However, environmental concern is expected to hamper the growth of nanobiotechnology market. Lack of resources and high technological cost can be barrier for the growth of this industry in emerging and underdeveloped economies. Nonetheless, strong demand from pharmaceutical industry is projected to open up new growth opportunities within the forecast period.
Based on application, the global nanobiotechnology market has been segmented into drug discovery, drug delivery, diagnostics and others. Diagnostics was accounted for major share of total nanobiotechnology market in 2015 and expected to exhibit significant share within the forecast period. This growth is mainly due to emerging technology in medical sector. Drug delivery is another key outlet of nanobiotechnology market and expected to show strong growth in this market in the near future. Drug discovery is expected to witness significant growth in the years to come.
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In terms of geography, North America was the largest market of nanobiotechnology I in the world due to the advancement in technology. Moreover, nanobiotechnology market has huge opportunity in the emerging markets of Asia Pacific due to increasing population coupled with health awareness among people in this region. Latin America is expected to experience significant growth in the near future.
Some of the leading players includes in nanobiotechnology market such as Calando Pharmaceuticals Inc., Advanced Sensor Technologies, Affymetrix, Gilead Sciences, Applied Nanotech, Advectus Life Sciences, and Elan Pharmaceuticals and others.
This report segments the global nanobiotechnology market as follows:
Global Nanobiotechnology Market: Application Segment Analysis
- Drug Discovery
- Drug Delivery
Global Nanobiotechnology Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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