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The European Commission has just approved the first injectable product using Elan Drug Technologies' NanoCrystal technology. The approval of XEPLION , Janssen-Cilag International's long-acting injectable treatment for patients with schizophrenia uses Elan's technology.
The approval of this technology represents an important step for NanoCrystal technology. Nanobiotechnology products are already available on the market place with the total market worth an estimated US$19.3 billion in 2010. By 2015, the forecast market size for nanbiotechnology is expected to total US$29.7 billion by 2015.
Medical applications, including drug delivery and microbicides represent one of the major nanobiotechnology sectors with sales totalling US$19.1 billion in 2010. The application of the nanotechnology in R&D is also an important growth area with DNA sequencing applying the technology recently.
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. The diagnostics industry is seeking ways to better image molecular events to meet demand for new medicines. Nanobiotechnology, representing a diverse range of applications and materials, is the result of these converging forces.
Nanotechnology is already providing significant revenues in drug delivery applications in addition to diagnostics, microbicides, and R&D tools. The application of nanotechnology is being applied to drug formats including polymer, liposomal and nanocrystal drugs. Diagnostic and microbicide formats include nanoparticles, quantum dots, and dendrimers. Nanopore formats are emerging in third-generation DNA sequencing applications.
Author: Mike King, Analyst
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