Nanotechnology Now - Press Release: "Nanobiotechnology Product Market Size to Total $29.7 billion by 2015"

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Nanobiotechnology Product Market Size to Total $29.7 billion by 2015

Posted on January 12th, 2011

According to the report "Nanobiotechnology: Applications and Global Markets" available at http://www.piribo.com/publications/biotechnology/nanomaterials.html the total market for nanobiotechnology products is $19.3 billion in 2010 and is growing at a compound annual growth rate (CAGR) of 9% to reach a forecast market size of $29.7 billion by 2015.

Nanotechnology is coming of age as a materials platform in multiple industries including the biotechnology industry. The unique properties that nanomaterials provide enable value-added performance in a range of life science applications, from encapsulating and releasing drugs to biologic imaging. At the same time, the drug industry is searching for ways to extend drugs coming off patent as well as to improve drug pharmacokinetics.

Medical applications, including drug delivery and microbicides, dominate today's market, with sales of $19.1 billion in 2010. This market segment is growing at a compound annual growth rate (CAGR) of 8.7%, and is forecast to reach sales of $29 billion by 2015.

In the R&D tools market, DNA sequencing is an emerging growth opportunity for nanotechnologies. This sector is valued at $63 million in 2010 and is expected to increase at a 37% compound annual growth rate (CAGR) to reach $305 million in 2015.

The report "Nanobiotechnology: Applications and Global Markets" is available from Piribo at:
www.piribo.com/publications/biotechnology/nanomaterials.html

Piribo product ID: BCC00122

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