Nanotechnology Drug Delivery Market to Reach Us$ 11.9 Bn in 2023

The application of nanotechnology in drug delivery is poised to surge rapidly in the coming years. Currently, a number of substances are being researched for drug delivery, especially for therapies used in the treatment of diabetes, cancer, and other chronic diseases. The key regional markets, namely North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa have been witnessing immense growth in nanotechnology drug delivery since the last few years.

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Nanoparticles reduce the toxicity and curb side-effects of drugs. The application of this technology in drug delivery has improved the delivery of drug molecules to nanometer range. The growing prevalence of various infectious and chronic diseases, advancements in nanotechnology, and the rising demand for technically advanced drug delivery systems are boosting the worldwide market for nanotechnology drug delivery significantly.

Which of the regional markets for nanotechnology drug delivery is likely to report the highest growth in the coming years?

The Latin America market for nanotechnology drug delivery is expected to register the highest growth in the coming years. The increasing government support in terms of funds for research and development activities in the field of nanotechnology is boosting the Latin America market remarkably.

In addition to this, the increasing focus of leading market players such as Johnson & Johnson and Novartis to strengthen their presence in countries such as Mexico and Brazil is likely to propel this regional market for nanotechnology drug delivery over the next few years.

What are the factors driving the market for nanotechnology drug delivery in other regions?

The increase in research activities by major pharma companies in North America to incorporate nanotechnology in drug delivery is driving the nanotechnology drug delivery...