Wilmington, Delaware, United States, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – In 2021, the value of global nanoparticle contract manufacturing market stood at US$ 86.5 Bn. It is anticipated that the global market is estimated to rise at 7.6% CAGR during the forecast period, from 2022 to 2031. By 2031, the global nanoparticle contract manufacturing market is expected to surpass value of US$ 176.5 Bn. The global market for nanoparticle contract manufacturing is being driven by a rising consumption of nanomedicines. Infectious illnesses, tumors, and problems of the neurological system are only a few of the ailments that are treated with nanoparticles. There are already more than 50 different nanoparticle products found in the market, which is anticipated to present growth prospects for the leading players in nanoparticle contract manufacturing market.
The market is anticipated to be driven by an increase in problems with drug solubility and bioavailability. When developing new medications, the majority of pharma firms encounter problems with drug solubility. Utilizing nanoparticles reduces problems with medicine solubility and bioavailability. The development of nanoparticle products is being outsourced by several pharmaceutical corporations. Important nanoparticle contract companies are increasing their production capacity to meet the rise in demand for innovative nanoparticle items.
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Medical imaging and diagnostics also make use of nanoparticle products. Given their ability to identify tumor cells, metabolites, microbial cells, and, gold nanoparticles are becoming more popular in the healthcare industry.
Key Findings of Market Report
- Contract manufacturing is becoming more and more popular with pharmaceutical businesses, particularly when developing nanoparticles. Approximately 60% of nanoparticle items are produced through contract manufacturing since it lowers costs associated with resources and production time. Consequently, the price of finished goods will be reduced, which is expected to drive the future market demand for nanoparticle contract manufacturing.
- In the upcoming years, it is anticipated that the prevalence of chronic illnesses will increase noticeably over the world. In 2021, the U.S. had around 608,570 cancer - related deaths and 1.9 million new cases of cancer, based on the American Cancer Society. Cancer therapy is the main use of nanoparticle products. The favorable nanoparticle contract manufacturing market culture is being driven by the rising incidences of cancer as well as other chronic disorders.
- In 2021, the lipid nanoparticle category represented a sizeable portion of the global market according to the type of nanoparticle. At this time, the market offers more than 20 different lipid nanoparticles. The lipid nanoparticle category is anticipated to be driven by expanding R&D on lipid nanoparticle products in the forthcoming years. There are over 30 liposome products now in the process of development, the majority of which hold promise for cancer treatment.
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Global Nanoparticle Contract Manufacturing Market: Growth Drivers
- Based on application, in 2021, the therapeutics category accounted for the largest market share depending on application and is the largest revenue generator in nanoparticle contract manufacturing market. Treatment for genetic problems, neurological conditions, and cancer is made possible by nanoparticle products. Consequently, the therapeutics category is growing as the prevalence of chronic illnesses rises.
- Depending on end user, the category of pharmaceutical companies is predicted to have a significant market share. The inclination toward contract manufacturing is rapidly rising, and there are more contract manufacturers making items using nanoparticles than ever before.
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Global Nanoparticle Contract Manufacturing Market: Key Players
Some of the key market players are
- Hongwu International Group Ltd
- STA Pharmaceutical Co. Ltd.
- AVANSA Technology & Services
- AstraZeneca plc
- Cytodiagnostics Inc.
- Fortis Life Sciences
Global Nanoparticle Contract Manufacturing Market: Segmentation
Type of Nanoparticle
- Polymer Nanoparticle
- Lipid Nanoparticle
- Nanocrystal
- Inorganic Nanoparticle
Application
- Therapeutics
- Regenerative Medicines
- Diagnostics
- Vaccines
- Others
End User
- Pharmaceutical Companies
- Biotechnology Companies
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