Nanomedicine Market Size, Share, Growth Analysis, By Application Scope(Therapeutics, In-vitro Diagnostics, Drug Delivery, In-vivo Imaging), By Indication Scope(Clinical Oncology, Infectious Diseases, Clinical Cardiology, Orthopedics), By Region - Industry Forecast 2024-2031

In 2022, North America emerged as the dominant region in the nanomedicine market, capturing a significant share of 49.91%. The region is expected to maintain its leadership position throughout the forecast period. This growth can be attributed to the presence of expanding partnerships between established businesses and nanomedicine start-up companies. Moreover, the region benefits from strong support from governmental authorities and increasing investments in research and development. North America is also home to a considerable number of manufacturing firms actively engaged in strategic ventures in the nanomedicine industry. For example, Advanced NanoTherapies, a company focused on developing a drug delivery platform using nanoparticles for various applications, raised USD 5.3 million in seed-round financing in October 2020 to accelerate the development of its technology for treating peripheral artery disease.

Asia Pacific market is expected to exhibit the fastest compound annual growth rate (CAGR) of 14.07% during the period from 2023 to 2030. This growth can be attributed to the increasing awareness about nanomedicine and the active engagement of the public in consensus conferences related to nanoscience and nanotechnology. Notably, in August 2022, Beijing, China hosted the 9th International Conference on Nanoscience and Technology, China (ChinaNANO 2022). This conference served as a platform to disseminate scientific breakthroughs, advancements in specific industry sectors, technical innovations, and discuss new possibilities and challenges in the field of nanomedicine.