DUBLIN--(BUSINESS WIRE)--
Research and Markets (http://www.researchandmarkets.com/research/hz6qjt/global) has announced the addition of the "Global Nanomedicine Market 2012-2016" report to their offering.
One of the key factors contributing to this market growth is the emergence of nanorobotics. The Global Nanomedicine market has also been witnessing the increasing use of novel nanomaterials. However, lengthy approval procedures could pose a challenge to the growth of this market.
The key vendors dominating this space include Abbott Laboratories, AstraZeneca plc, Bristol-Myers Squibb Co., Celgene Corp., GlaxoSmithKline plc, and Pfizer Inc.
Commenting on the report, an analyst from the team said: One of the main trends witnessed in the Global Nanomedicine market is the emergence of emergence of personalized medicines. Over the years, research activities in the Healthcare industry have changed significantly. There has been a paradigm shift from blockbuster drugs to a more personalized medicine approach. More emphasis is being laid on formulating drugs on the basis of an individual's unique genome and immune response. The Global Nanomedicine market is witnessing a significant demand for personalized medicines because of their ability to provide customized treatments to patients. These customized treatments are based on the medical conditions and genetics of the patients.
According to the report, one of the main factors driving the market is the emergence of nanorobotics. Although the Global Nanorobotics market is still in its initial stage, there is great potential for these devices to be used in the field of nanomedicine. For instance, researchers are planning to build nanorobots using DNA Origami, a method in which the arrangement of DNA's corresponding chemical base pairs is taken to create different nano-structures.
Further, the report states that one of the main challenges is long approval process and stringent regulations. The long approval procedures of FDA and other regulatory organizations differentiate nanomedicine products from the nanotechnology products used in other industries. Hence, the expenditure to establish any nanomedicine product in the consumer market is enormous.
Companies Mentioned
- Abbott Laboratories
- AstraZeneca plc
Excerpt from:
Research and Markets: Global Nanomedicine Market 2012-2016: The Global Nanomedicine Market to Grow at a CAGR of 12.57 ...