Nanobiotechnology Market Boosted by Increasing Adoption of Nanobiotechnology in Pharmaceutical Industry
deals with the development of medical science. Nanobiotechnology is the intersection of nanotechnology and biology, which deals with biological and biochemical applications. It can also be referred as bionanotechnology and nanobiology.
Nanobiotechnology applications are defined comprehensively as the creation and use of materials, devices and systems through the manipulation of matter at scales of less than 100 nanometers. Based on technology, the Nanobiotechnology Market is segmented as nanocrystals, nanoparticles, liposomes, micelles and nanotubes. This technology can be used in various applications including neurology, oncology, cardiovascular/physiology, anti inflammatory/immunology and anti-infective.
Growing technological advancements, increasing usage of nanobiotechnology in various industries are the major growth factors of the Nanobiotechnology Market. Rising adoption of nanobiotechnology in pharmaceutical and semiconductors coupled with developing nations like India and China will create new opportunities for this market. However, complexity included in manufacturing process and higher cost of research and development are the major restraints for the market growth.
North America is dominating the Nanobiotechnology Market, with approximately half of the world’s procedures being done in US because of increasing usage of nanoparticles to reinforce tires and other rubber products. Europe is projected to witness the fastest growth due to the favorable growth conditions for pharmaceutical and biotechnology manufacturers. Asia-Pacific is also projected to witness positive growth during the forecast period, followed by Rest of the World. Among all the applications, neurology segment has the highest share in this market.
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