Nanotechnology in Health Care industry forecasts to 2011, 2016 & 2021
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US demand to rise over 17% annually through 2011
US demand for nanotechnology health care products will grow over 17 percent per year to $50 billion in 2011. Afterwards, the increasing flow of new nanomedicines, nanodiagnostics, and nanotech-based medical supplies and devices into the US marketplace will boost demand to $107 billion in 2016 and $225 billion in 2021. 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, rising to $41 billion in 2011, $84 billion in 2016 and $175 billion in 2021. Treatments based on humanized monoclonal antibodies, nanopolymers and nanoproteins will drive gains, with compounds for cancer, neurological disorders, viral infections and ischemic heart diseases leading new product introductions and growth opportunities. Eventually, pharmaceutical applications of nanotechnology will extend into all major therapeutic classes, encompassing numerous formulations and delivery systems.
Nanodiagnostics to grow 13% per year through 2011
Advances in nanotechnology will also contribute significant improvements to the quality and performance of medical diagnostic products. Nanosized labels, probes and biosensors 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 by enabling the detection of tumors, plaque, genetic defects and other disease states at much earlier stages and with lower, safer concentrations of injected compounds. Reflecting these advantages and new offerings, demand for nanodiagnostic products is projected to increase over 13 percent per year to 2011 and continue rising at a double digit annual pace through 2021.
Nano-supplies/devices to emerge as key uses
Besides pharmaceuticals and diagnostic products, several medical supplies and devices will emerge as key applications for nanotechnology. Nanomaterials are already gaining significant demand as active ingredients of burn dressings andbone cement. In the long term, advances in nanotechnology will lead to the introduction of new, improved medical supply and device coatings as well as a new, diverse group of medical implants. Demand for medical supplies and devices based at least partially on nanomaterials will expand rapidly through 2021 as nanotechnology-based orthopedic and cardiac implants and smart medical and surgical instruments are introduced into the marketplace.
Cancer, brain disorders among early applications
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 by nanotechnology products. By 2016, nanoimplants will be widely employed in orthopedic procedures and begin to gain experimental uses in tissue and nerve regeneration. By 2021, nanotechnology will serve applications that extend into most areas of critical and chronic care.