How nanotechnology can benefit healthcare Industry

Nanotechnology is a new scientific field that could spark a huge number of exciting developments across healthcare. The technology uses ultrasmall particles called nanoparticles, which are invisible to the human eye and hundreds of times thinner than human hair. In recent years, there’s been an overwhelming demand for nano-enabled or nano-enhanced gowns, aprons, scrubs, and protective gear. As a result of increased demand, BCC Research expects the market for nanoparticles in biotechnology, drug development and drug delivery systems to reach $156.8 billion by 2028, at a CAGR of 8.8%. In this blog, we’re diving into some of the key reasons the nanotechnology market is armed for growth.

Growing research and development activities

Nanoparticles offer pharmaceuticals a huge number of benefits, as nanoparticle drug delivery systems can improve the efficacy of drugs and reduce their adverse effects. There’s been a significant increase in R&D activities for nanoparticles that are leading to the discovery of new application areas. These include immunotherapy, chemotherapy, and biological agents for the treatment of various diseases. The first-generation nanoparticles for therapeutic uses included lipid systems and micelles which after extensive research and development methods are now approved for clinical use. Micelles and liposomes contain inorganic nanoparticles or magnetic ones that find large applications in therapeutics, drug delivery, and imaging functions.

According to the NBIC statistical review on nanotechnology publications in 2020, around 9% of the scientific publications listed in the WoS (Web of Science) database are related to nanotechnology. This is a significant rise compared to previous years. Moreover, countries such as China, India, Vietnam, Saudi Arabia, and Iran along with the US witnessed the most advanced performance in the nanotechnology space in 2020 and are continuing to do so.

Increasing prevalence of cancer

Nanotechnology has been intensively researched and used to treat cancer since nanoparticles can be an effective drug delivery technique. Nanoparticle-based drug administration has distinct benefits over conventional drug delivery methods, including greater stability and biocompatibility, increased permeability and retention effect, and precision targeting. This kind of drug-carrier system has advanced thanks to the use and development of hybrid nanoparticles, which incorporate the combined properties of many nanoparticles. Additionally, it has been demonstrated that nanoparticle-based drug delivery systems contribute to the reduction of cancer-related treatment resistance. Overexpression of drug efflux transporters, compromised apoptotic pathways, and hypoxic environments are some of the processes underlying cancer treatment resistance. Improved multidrug resistance reversal may result from nanoparticles that target these pathways. Nanoparticles are also being created to target these pathways as more tumor drug-resistance mechanisms are discovered. Globally, there were 17.0 million new instances of cancer and 9.5 million cancer-related deaths in 2018, according to estimates from the International Agency for Research on Cancer (IARC). Simply because of population growth and aging, it is anticipated that by 2040 there would be 16.3 million cancer deaths and 27.5 million new cancer diagnoses worldwide. Due to the growing frequency of risk factors like smoking, poor food, physical inactivity, and fewer pregnancies in economically developing nations, the burden will likely grow in the future. Additionally, researchers are currently looking into the application of nanoparticles in immunotherapy, which is more crucial in the treatment of cancer.

Nanoparticles in Biotechnology, Drug Development and Drug Delivery Systems

BCC Research’s recent report breaks down the opportunities and risks for nanoparticles in biotechnology, drug developments, and drug delivery systems. Providing five-year forecasting and regional analysis, the report acts as an excellent accomplice for those navigating the landscape.

Download Report Overview Now

High costs involved

Nanotechnology research is an expensive area; strong infrastructure and financial muscle are required. The research is being done largely by developed nations, which is causing concern about whether less financially strong countries can afford to develop the nanotechnology industry. Moreover, the nanoparticles' physical synthesis methods are highly expensive, while chemical synthesis methods have slow growth rates, inaccuracy of structure, and pose serious environmental risks. The bottom-up approach of synthesizing nanoparticles which begins with initial structures at the atomic level is a cost-effective method for large-scale productions in contrast with a top-down approach which begins with initial structures at the macroscopic level. For firms that make nanotherapeutics, cost is a huge hurdle. Manufacturing nanodrugs is substantially more expensive than producing traditional drugs. The everyday success of nanomedicines is hampered by these economies of scale, which result in significantly higher selling prices or acquisition costs for hospitals.

The increasing prevalence of nanotechnology

The nanoparticles industry is witnessing increasing investments, which is prompting the market for continued expansion. To develop an effective strategy, knowing the opportunity areas is essential.

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