Will Safety Concerns Slow Nanotechnology Drug Delivery Market Growth? Forecasts Predict 84.79% Growth in US, 73.97% Globally through 2016
FARMINGTON, Conn., April 1, 2013 /PRNewswire-iReach/ -- Research activities in healthcare have changed significantly in recent years. There has been a paradigm shift away from blockbusters drugs to a more personalized medicine approach. The focus is being placed increasingly on formulating drugs based on the individual's unique genome and immune response. Personalized medicines have gained significant popularity because they enable the medical profession to provide customized treatment to patients. Customized treatment is based on the genetic as well as medical profile of a patient. Increasing knowledge about the molecular causes of diseases is increasing the demand for more targeted and effective nanotechnology-enabled drug delivery therapies.
Research analysts at Infiniti Research predict that the nanotechnology drug delivery market in the U.S. will grow at a compound annual growth rate of 84.79 percent through 2016. One of the most important applications of nanotechnology in medicine currently being developed involves employing nanoparticles to deliver drugs to specific types of cells (such as cancer cells). Nanotechnology drug delivery helps in delivering drugs directly to diseased cells, which allows direct treatment of those cells. This technique helps to avoid damage to healthy cells within the human body. Hence, drug delivery technology helps to increase the overall market success of a particular drug.
A new report, "Nanotechnology Drug Delivery Market in the US 2012-2016" finds that one of the main challenges is the increasing safety concerns. Studies have revealed that the use of various nanomaterials may cause a variety of toxic effects. Lack of FDA directives is another major factor hampering the growth of the Nanotechnology Drug Delivery market in the US.
Learn more about the US nanotechnology drug delivery market and the key vendors dominating this space including Alkermes plc, Celgene Corp., Novartis AG, and SkyePharma at http://www.giiresearch.com/report/infi265388-nanotechnology-drug-delivery-market-us.html
The global nanotechnology drug delivery market is expected to grow at a 73.97 percent CAGR through 2016. Report details and free sample pages for the global edition of the nanotechnology drug delivery market are available at http://www.giiresearch.com/report/infi264464-global-nanotechnology-drug-delivery-market.html
In the smart pill technology market, one of the key drivers in this market – forecast to grow at 6.9% - is the significant rise in the number of people suffering from GI disorders, which is mainly a result of changing lifestyles and food habits. Consequently, there has been an increase in the diagnosis and treatment of GI disorders.
According to "Global Smart Pill Technology Market 2012-2016", the prevalence of GI diseases such as colorectal cancer and esophagitis has increased over time, leading to the need for screening procedures as many such diseases can be cured when detected early. It is estimated that colorectal cancer accounts for more than 10 percent of the total number of cancer cases worldwide. The increased need for screening for various GI diseases increases the scope for the usage of endoscopy devices. Moreover, since many healthcare institutions prefer endoscopes and smart pills for screening procedures for GI disorders, the growth of the market is expected to increase during the forecast period.
For more information and to view free sample pages, please visit http://www.giiresearch.com/report/infi265384-global-smart-pill-technology-market.html
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