Seattle, WA -- (SBWire) -- 02/28/2020 --Nanopharmaceuticals play a major role in advance healthcare, as it is widely used in drug delivery. Nanopharmaceuticals differ from other macroscopic level of medicines in its shape and composition and offer advantages over the bulk analogues such as precision targeting and patient compliance.
The global nanopharmaceuticals market size was valued at US$ 28,434.3 million in 2017, and is expected to exhibit a CAGR of 22.1 % over the forecast period (2018–2026).
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Key players in the market are focused on research and development of nanopharmaceuticals in order to develop novel products to address the critical unmet needs of patients. According to the P&T Community Journal, December 2017, DTXSPL8783, dendrimer for cancer treatment is being investigated, which is in clinical trials of phase 1 study, for patients with advanced cancer.
Similarly, Vivagel developed by Starpharma, is in phase 3 clinical trials, for bacterial vaginosis. Vivagel sale is approved in Europe and Australia. Moreover, increase in incidences of cardiovascular diseases and other diseases, is expected to boost the market growth. According to World Health Organization, factsheet 2017, around 17.9 million deaths were recorded due to cardiovascular diseases in 2016. Cardiovascular diseases was recorded as the leading cause of death, globally.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance its product portfolio. For instance, in December 2018, Novartis acquired Endocyte, Inc., involved in developing Radioligland and other therapies for treatment of cancer. This acquisition helped Novartis to strengthen its position in cancer treatment and expand its products offering to align better healthcare.
The global nanopharmaceuticals market is expected to exhibit a CAGR of 22.1% over the forecast period, owing to increasing prevalence of cancer, cardiovascular diseases, infectious diseases, and other diseases. According to Cancer Research UK Factsheet, around 17 million new cases of cancer were recorded worldwide, in 2018.
Among carrier type, the liposomes segment held dominant position in the nanopharmaceuticals market in 2018, owing to more research and development activities on liposome due to its advantages over other carriers.
Among application type, cardiovascular segment held dominant position in the nanopharmaceuticals market in 2018, as the majority of the nanopharmaceuticals are used for the treatment of cardiovascular diseases due to high incidence rate of the disease.
Among end user, hospital pharmacies segment held dominant position in the nanopharmaceuticals market in 2018, as majority of the cases of cardiovascular diseases and other diseases are registered at hospitals.
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Key players operating in the global nanopharmaceuticals market include Abbott, GlaxoSmithKline plc., Eli Lilly and company, Astrazeneca plc., Novavax, Inc., Stryker Corporation, OSI Pharmaceuticals, Kadmon Pharmaceuticals, Samyang Biopharm, Mitsubishi Tanabe Pharma Corporation, Kaken Pharmaceutical, Selecta Biosciences, Par Pharmaceutical, Cerulean Pharma Inc., Navidea Biopharmaceuticals, Inc., AbbVie Inc., AMAG Pharmaceuticals, Amgen Inc., Astellas Pharma Inc., Celgene Corporation, Gilead Sciences, Inc., JOHNSON & JOHNSON, Merck & Co., Inc., Novartis AG, Pfizer, Inc., Hoffmann-La Roche AG, Sanofi S.A, Shire Plc., and Teva Pharmaceuticals Industries Limited.
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Nanopharmaceuticals Market to Surpass US$ 168.9 Billion by 2026 : Abbott, GlaxoSmithKline Plc., Eli Lilly and Company, Astrazeneca Plc., Novavax, Inc., Stryker Corporatio