Market Trends of Gold Nanoparticles Industry
Targeted Drug Delivery to Dominate the Market
- The targeted delivery of drugs is one of the most important uses for gold nanoparticles on the market.
- A target drug delivery system is an advanced form of drug delivery where the medication drug or a pharmacologically active agent is selectively delivered by the nanoparticles at an exact corresponding site of action or absorption and not to the non-target organs, tissues, or cells.
- The addition of nanoparticles to the targeted drug delivery system has led to many benefits, such as high therapeutic efficacy, high targeting efficiency, and repeatability.
- Gold nanoparticles are used to deliver multiple drug molecules, vaccines, recombinant proteins, or nucleotides into their targets and can also control the volume of drug released via biological stimuli (internal) or light activation (external).
- In the United States in 2021, overall pharmaceutical expenditures grew by 7.7% compared to 2020, for a total of USD 576.9 billion. Additionally, the Centers for Medicare and Medicaid Services reported prescription drug expenditure in the United States came to some USD 378 billion in 2021. The rising elderly population and increasing health risks among individuals are only expected to drive the market for targeted drug deliveries and hence gold nanoparticles in this sector.
- In China, the pharmaceutical industry generated revenue of over CNY 3.3 trillion (USD 511 billion) in 2021, representing year-on-year growth of almost 20 percent. Pharmaceutical preparations manufacturing and Chinese patent drug manufacturing are the two biggest pharmaceutical segments in the country.
- One of the other uses of gold nanoparticles is that their surface can be modified using some specialty polymers, like polyethylene glycol (PEG). This is expected to result in increased stability of gold nanoparticles in different physiological conditions and also provide a variety of combinations of gold nanoparticles. This is further expected to boost the usage of gold nanoparticles in treated drug delivery applications.
- Therefore, all the above-mentioned factors are expected to drive demand for the market studied in the coming years.
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North America to Dominate the Market
- During the forecast period, the gold nanoparticles market is expected to be led by North America.
- The United States' medical technology industry is still one of the most important and fastest-growing industries in the area. It is also a leading force in the revolution that is changing the healthcare system.
- The United States' healthcare spending grew 2.7 percent in 2021, reaching USD 4.3 trillion, or USD 12,914 per person. 18.3 percent of the country's gross domestic product went toward health care costs.The growth is expected to continue through the upcoming years, too.
- The country's medical technology is one of the best in the world, with cutting-edge products that save and improve lives. Because the country put a lot of money into research and development, its medical technology set the standard for growth, employment trends, production values, exports, global market share, and venture capital financing.
- Also, about 35% to 40% of all medical devices made in the United States are exported, and the same amount of medical devices used in the United States are brought in from other countries. About 40% to 50% of the total revenue of U.S. medical device companies, which includes the revenue of their foreign subsidiaries, comes from sales in other countries.
- American hospitals spend around USD 93 billion per year on service to cover the medical device's lifecycle cost.
- The breakthroughs in areas such as device miniaturization and nanotechnology have created vast opportunities for the growth of the gold nanoparticle market in the United States.
- Also, by 2021, Canada's total health care costs were expected to have risen to more than USD 308 billion, or USD 8,019 per Canadian.In 2021, hospitals (25% of total health spending), drugs (14%), and physicians (13% of total health spending) accounted for the largest shares of health spending (over 50% of total health spending). Spending on drugs also went up because claims for specialty drugs kept growing and because chronic maintenance drug users had higher costs per claimant.
- Also, because technology and research and development (R&D) in the electronics industry are changing quickly, there is a lot of demand for newer and faster electronics. There is a spurt in the number of manufacturing plants and development centers in the United States that are focusing on high-end products, which is expected to boost the demand for gold nanoparticles over the forecast period.
- The Canadian consumer electronics industry experienced growth and grabbed new opportunities in the key product category, as Canadians valued new product innovations. The factor driving the growth of this industry is the improved network connectivity in the country. The Canadian consumer electronics market reached USD 19.7 billion in revenue by August 2022. Samsung is the second-most popular smartphone brand in Canada after Apple.
- Because of all of these things, the market for gold nanoparticles in the region is expected to grow quickly over the next few years.
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