According to the recent report by BCC Research, the global market for nanomedicine is expected to grow to 493.5 billion USD by 2026, with a CAGR of 15.3% for the period of 2021-2026. The report highlights nanopharmaceuticals and nanodiagnostics as prospective domains for the development of nanomedicine.¹ Transparency Market Research shares a similar view on the development of nanomedicine market. According to its forecasts, the global market for nanomedicine should grow from 198.9 billion USD in 2020 to 512.5 billion USD in 2028, with CAGR of 12.6%.² The recent overview of market studies in the field of nanotechnology identifies market growth in biotechnology products, drug delivery systems and nanoparticles in diagnostic imaging.³

Nanopharmaceuticals is the largest market in nanomedicine. According to Transparency Market Research⁴, the prevalence of chronic diseases, especially cancer and cardiovascular diseases and improvement in nanomedicine technology boost the growth of the nanomedicine market. However, high costs of research and development, as well as manufacturing, are the main factors that could inhibit the growth of nanomedicine market.

Nanotechnology Products Database (NPD) hosted and maintained by Statnano, reports 80 nanotechnology-based drugs by 149 companies as to November 2020. NPD lists the following top-ten manufacturers of nanotechnology-based drugs: Pfizer Inc. (USA), Merck Sharp & Dohme (USA), AbbVie Inc. (USA), Novartis Pharmaceutical (USA), Janssen Pharmaceuticals (Belgium), Recro Gainesville (USA), Fresenius Kabi (Germany), Depomed (USA), F. Hoffmann-La Roche Ltd. (Switzerland), and Gilead Sciences Inc. (USA).⁵

¹ BCC Research (2022). Nanotechnology in medical applications: The global market. Available at: https://www.bccresearch.com/market-research/healthcare/nanotechnology-medical-applications-market.html 

² Transparency Market Research (2022). Nanomedicine market (application: cardiovascular, anti-inflammatories, anti-infectives, neurology, oncology, and others [dental, orthopedic, urology, and ophthalmic]) - global industry analysis, size, share, growth, trends, and forecast, 2021-2028. Available at: https://www.transparencymarketresearch.com/nanomedicine-market.html 

³ Gharailou, D. (2019). A review of market studies in different fields of nanotechnology. Statnano. Available at: https://statnano.com/publications/4866/A-Review-of-Market-Studies-in-Different-Fields-of-Nanotechnology 

⁴ Transparency Market Research. (2022). Nanomedicine market. Available at: https://www.transparencymarketresearch.com/nanomedicine-market.html

⁵ Nourizadeh, H. et al. (2021). Nano-pharmaceutical products. Available at: https://statnano.com/publications/5079/Nano-pharmaceutical-Products