Boosting Demand Of Nanomedicine Market Due To Rising Level Of Government Participation In R&D Funding Till 2025
The global nanomedicine market is anticipated to reach USD 350.8 billion by 2025, according to a new report by Grand View Research, Inc. Development of novel nanotechnology-based drugs and therapies is driven by the need to develop therapies that have fewer side effects and that are more cost-effective than traditional therapies, in particular for cancer. Application of nanotechnology-based contrast reagents for diagnosis and monitoring of the effects of drugs on an unprecedented short timescale is also attributive drive growth in the coming years. Additionally, demand for biodegradable implants with longer lifetimes that enable tissue restoration is anticipated to influence demand. U.S. nanomedicine market by products, 2013 - 2025 (USD Billion) As per the WHO factsheet, cancer is found to be one of the major causes of mortality and morbidity worldwide, with approximately 14 million new cases in 2012 and 8.2 million cancer-related deaths. Thus, demand for nanomedi