Global Nanotechnology Drug Delivery Market to Exhibit 12.5% CAGR during 2015-2023 due to Growing Demand for Effective Drug Delivery in Cancer Patients Transparency Market Research has published a new market research report titled, “Nanotechnology Drug Delivery Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.� According to the report, the global nanotechnology drug delivery market was valued at US$ 4.1 Bn in 2014 and is estimated to reach US$ 11.9 Bn in 2023, expanding at a CAGR of 12.5% from 2015 to 2023. In drug delivery, nanotechnology has received a lot of attention as it has the ability to manipulate molecules. The polymeric micelles, nanoparticles, and liposomes are termed as nanovehicles that are helpful in developing clinically useful formulations for treating various diseases. The global nanotechnology drug delivery market is estimated to expand robustly at a CAGR of 12.5% during the period between 2015 and 2023. The overall market was worth US$4.1 bn in 2014 and is anticipated to reach a valuation of US$11.9 bn by 2023.
The growing prevalence of cancer and infectious diseases has propelled the demand for novel drug delivery systems. This, in turn, has led to significant nanotechnology research as nanometer range of drug molecules can be effectively delivered to the targeted cells. All these factors have contributed towards the growth of the global nanotechnology drug delivery market. However, unspecific regulatory guidelines for novel nanotechnology-based drugs will hamper the market growth in the near future. On the basis of technology, the global nanotechnology drug delivery market has been segmented into nanocrystals, liposomes, nanotubes, micelles, nanoparticles, and others including dispersion, nanoemulsions, and lipid colloidal. The nanoparticles segment has been further divided into dendrimers, gold nanoparticles, fullerenes, and others. In 2014, the nanoparticles segment dominated the overall market owing to its wide range of applications. The demand for dendrimers was the highest due to its properties such as monodispersity, flexibility in size and shape, polyvalency, biocompatibility, and better transfection. During the period between 2015 and 2023, the nanotubes segment is projected to expand at the fastest rate as nanotubes are highly efficient in healthcare, especially for bio-sensing methods, drug delivery, and health monitoring.