Nanotechnology Medical Market Could Double Worth by 2013

NEWS TRENDS

Maria Fontanazza

October 1, 2008

2 Min Read
Nanotechnology Medical Market Could Double Worth by 2013

NEWS TRENDS 

(click to enlarge)In 2007, the total nanotech market was $1.7 billion.

In just five years, the global market for nanomedical technology could more than double its revenue to $3.8 billion. The market also has the potential to explode to $9.4 billion in 2018. These figures come from a study by BCC Research (Wellesley, MA).

The report, called Global Markets for Nanoscale Materials and Devices, separates the market into nano­particles, other nanostructure materials, and nanotools or nanodevices. In 2007, these applications generated $1.7 billion.

Nanoparticles, including applications such as nanotubes, hold 96% of the market. Their share was worth $1.6 billion in 2007. The segment is expected to hit $1.8 billion this year and $3.4 billion in 2013. The report speculates that nanoparticles could reach $7.9 billion in revenue in 2018, but drop to 85% of the market.

Nanostructure materials only make up 2% of the market but are the fastest-growing sector. They are expected to jump from $45.1 million this year to $304.7 million in 2013 and could grow to $1.1 billion in 2018.

Nanotools and nanodevices encompass the smallest part of the nano­medical market. According to the study, the sector should generate $34.2 million this year and could possibly reach $287.5 million in 2018.

The report examines how nanotechnology is used around the world in medical research, drugs, diagnostics, devices, and imaging.

Nanomedical devices are just a sliver of the market now, but the report expects them to make significant gains in market share by 2018.

Nanomedical devices should increase from 5.6% of the market in 2007 to 20.5% in 2018, the report predicts. Nanopharmaceutical applications account for almost 90% of the nanomedical market now, but they could comprise just 50% of the market in 2018. Medical research applications should see growth from 2.6 to 16.7% of the market for the same time period.

The report can be obtained from BCC Research's Web site at www.bccresearch.com.

Copyright ©2008 Medical Device & Diagnostic Industry

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