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Home > Press > US Nanotechnology Health Care Product Demand to Reach $6.5B in 2009

Abstract:
Gains will be led by the introduction of new, improved cancer and central nervous system therapies based on solubilization technologies

US Nanotechnology Health Care Product Demand to Reach $6.5 Billion in 2009

Cleveland, OH | May 10, 2005

Demand for nanotechnology health care products in the US is projected to increase nearly 50 percent per year to $6.5 billion in 2009. Gains will be led by the introduction of new, improved cancer and central nervous system therapies based on solubilization technologies. Diagnostic tests based on nanoarrays and quantum dots, and imaging agents based on superparamagnetic iron oxide nanoparticles will also see strong growth. In spite of progress in introducing new products, the vast potential of nanotechnology in the health care field will not be fully realized for at least a decade as stringent regulatory barriers and technical complexities delay the commercialization of targeted drug delivery systems, tissue regenerators and other breakthrough products. However, by 2020, demand for nanotechnology health care products is projected to exceed $100 billion. These and other trends are presented in Nanotechnology in Health Care, a new study from The Freedonia Group, Inc., a Cleveland-based market research firm.

The need for new or improved medicines in several therapeutic areas will lead to the increasing use of nanotechnology in pharmaceutical applications. Protein- and peptide-based compounds for cancer, diabetes, infectious diseases and organ transplant acceptance will account for most growth. Over the long term, pharmaceutical applications for nanotechnology will extend into most therapeutic classes and encompass all types of formulations and delivery systems.

Advances in nanotechnology are also creating a wealth of opportunities for the development of new, improved medical diagnostic products and techniques. 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 contrast agents. Several medical supplies and devices will emerge as key applications for nanotechnology. Nanomaterials are already gaining significant demand as active ingredients of burn and wound dressings. In the long term, advances in nanotechnology are expected to lead to the introduction of new, improved medical supply and device coatings as well as a new, diverse group of medical implants. The greatest short-term impact of nanotechnology in health care will be in therapies and diagnostics for cancer and central nervous system disorders.

US NANOTECHNOLOGY HEALTH CARE PRODUCTS DEMAND

(million dollars)

% Annual Growth

Item

2004

2009

2014

09/04

20/04

Nanotech Health Care Product Demand

906

6500

27700

48

35

Pharmaceuticals

406

3000

16600

49

39

Diagnostics

465

1100

2200

19

14

Medical Supplies & Devices

35

2400

8900

133

50

2005 by The Freedonia Group, Inc.

Nanotechnology in Health Care (published 05/2005, 355 pages) is available for $4,200 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail pr@freedoniagroup.com.

For more information visit www.freedoniagroup.com

####

About Freedonia Group:
The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. Our industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product and market forecasts, industry trends, threats and opportunities, competitive strategies, market share determinations and company profiles. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning.


Contact:
Corinne Gangloff
440.684.9600
fax 440.646.0484
pr@freedoniagroup.com

Copyright Freedonia Group

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