Polymeric Nanoparticles Market - Growth, Trends, and Forecast (2020-2025)
The market for polymeric nanoparticles is expected to grow at a CAGR of more than 3.2% globally during the forecast period. Polymer nanoparticles are classified as colloidal particles (1 to 1000 nm) that can be either nanospheres or nanocapsules. The growing demand from the pharmaceutical industry has been driving the market growth.
However, the complex manufacturing process of polymeric nanoparticles and unfavorable conditions arising in non-healthcare industries due to the COVID-19 outbreak is likely to hinder the growth of the studied market.
The growing application of polymeric nanoparticles in the electronics industry is likely to provide opportunities for the studied market, during the forecast period.
The pharmaceutical sector is the most dominating end-user segment for the market studied.
North America region dominated across the world with increasing consumption from countries like the United States and Canada.
Key Market Trends
Pharmaceutical Sector to Dominate the Market
The pharmaceutical sector stands to be the dominating segment owing to the continuous development of better and more advanced healthcare infrastructure globally, coupled with the growing health concern all over the world.
Polymeric nanoparticles have been extensively studied in the pharmaceutical and medical fields as particulate carriers because they demonstrate promise as drug delivery systems because of their controlled and sustained release properties, subcellular size, and biocompatibility with tissue and cells.
Attractive characteristics such as compact size, biodegradability, water-solubility, non-toxicity, long shelf life, and storage stability allow them a point of interest in transporting medications, enzymes, and DNA or genes to particular targeted tissues or organs. Therefore, they are used in the medical field in anticancer treatment, vaccination, diagnostic, and many other applications.
In Asia-Pacific and North America region, the healthcare industry is growing as the rollout of public health care programs combined with growing consumer wealth is anticipated to boost health care spending.
Throughout the forecast timeframe all the above conditions are anticipated to boost the demand for polymeric nanoparticles.
North America Region to Dominate the Market
North America has seen substantial growth in the demand for polymeric nanomaterials in the recent past, especially from countries such as the United States and Canada.
Formulation of antimicrobial phytochemicals using polymer nanoparticles improves their properties such as controlled escape, improved water solubility, decreased cytotoxicity, and improved antimicrobial activity. Increasing therapeutic phytochemicals for the synthesis of chemical drugs and pharmaceuticals is expected to boost the market growth.
Growth in technology and increased investment, in research & development with funding from the government, has driven the polymeric nanomaterials market in this area with its high usage in various applications.
Polymeric nanoparticles possess properties such as high electrical conductivity, improved dimensional stability, and high resistance to heat resulting in promising applications in microelectronics, sensors, solar cells, etc. Thus, the rising electronics industry in the North America region is anticipated to drive the region’s market growth.
United States dominates the market in North America. As the United States is one of the developed economies witnessing healthy economic growth, the policies of its government have been in line with the proposed goals of implementing economic reforms, thereby ensuring the country's healthy growth during the forecast period.
· Thus, growing demand from various end-users is boosting the demand for polymeric nanoparticles market in the North America region.
The global polymeric nanoparticles market is partially consolidated in nature. Some of the major companies are Aphios Corporation, SRL, CD Bioparticles, Nanorh, and Degradex (Phospherex Inc.) amongst others.
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