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(Medical-NewsWire.com, March 22, 2018 ) The North America Nano medicine Market was worth USD 47.6 billion in 2017 and is projected to grow at a CAGR of 11.5%, to reach USD 82.1 billion by 2022. The application of various techniques and instruments of nanotechnology in the field of medicine is known as Nano medicine. It involves using Nano scale materials to diagnose diseases, drug delivery and other functions. Nano medicine has the potential to revolutionize medicine in the future.
One of the major challenges for the use of nanoparticles in medicine is to make the materials as biocompatible. Applications of Nano capsules in drug delivery have shown excellent results in chemotherapy. Nano medicine enables great precision in both diagnostics and therapeutics which is not possible before. Pipeline products which are being developed with the intention to target cancerous tumors are expected to boost the Nano medicine market.
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Increasing applications of nanomaterial such as Nano capsules and nanotubes in drug delivery systems, growing number of cancer and cardiovascular diseases, increasing public and private investments on research activities in Nano medicine and advancements in the biodegradable nanoparticles are the major factors propelling the growth of Nano medicine market. However, unfavorable approval processes possibility for unintended risks during therapies and high cost of treatment using Nano medicine are hindering the market growth.
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The Nano medicine market is segmented by product, disease type, Nano molecule type and region. On the basis of product, the market is categorized into Diagnostic Imaging, Regenerative Medicine, Drug Delivery, Implants, Vaccines and Others. Drug delivery products are accounted for the largest market share. It is due to the incredible precision with which drugs are delivered to the target cells or tissues in the body. On the basis of disease type, the market is categorized into Cardiovascular Diseases, Neurological Diseases, Ophthalmological Diseases, Infectious Diseases, Immunological Diseases, Orthopedic Disorders, Oncological Diseases and Others. Oncological diseases segment dominates the market. It is because majority of the research conducted on Nano medicine is focused on developing products for cancer treatment. Cardiovascular diseases segment is expected to be rapidly growing owing to the increase in the geriatric population. On the basis of Nano molecule type, the market is categorized into Nanotubes, Nanoparticles, Nano devices, Nano shells and Others.
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On the basis of region, the North America Nano medicine market is segmented into USA and Canada. North America leads the Nano medicine market due to the huge investments on research in Nano medicine from government organizations in Unites States. Due to the highly developed healthcare infrastructure and high incidence of cancer, Nano medicine is readily adopted in this region.
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Some of the major players in Nanomedicine market are Johnson & Johnson, Merck & Co, Pfizer, Abbott Laboratories, GE Healthcare, Celgene Corporation, Nanosphere, Inc, Gilead Sciences, Hoffmann-La Roche, Nanospectra Biosciences, and Arrowhead Pharmaceuticals.
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Source: EmailWire.Com 
Source: EmailWire.com
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