Published on : Feb 25, 2016
In simple terms, nanomedicine is the application of nanotech in the field of medicine, more specifically, in the pharmaceuticals industry. It is relatively new field and as with most new medical fields, is filled with challenges and trepidation. The applications of nanomedicine currently range from biological and medical devices, the manufacture of medical nanomaterials, and nanotech biosensors. The future of the global nanomedicine market could even expand to the manufacture of biological nanomachines through advancements in molecular nanotech. Till then, the field is plagued by major problems such as the undiscovered extent of toxicity of nanomaterials, and the effect that nanomedicine materials and devices can have on the environment.
Nanomedicine Market Strengthened by More Collaborative Efforts
It is always good to see people and organizations in the field working together, and the case is similar with the global nanomedicine market. There are currently a large number of collaborative efforts being undertaken in this field, allowing for the creation of more innovative technology at a faster rate. Not only this, but the global nanomedicine market is also benefitting largely from active government support in multiple regions. This is especially the case in developed economies, where the existence of advanced medical infrastructure is making it easy to implement modern concepts and devices. It may, however, still be impeded by the shortage of a strong and effective framework of regulations which can provide the way for the market towards growth.
Recent Developments in Global Nanomedicine Market
True to its form as a burgeoning market, nanomedicine is showing a large amount of activity in multiple regions. For instance, Precision NAnoSystems, Inc., a nanotech company based in Vancouver, has successfully formulated a device which can produce molecules that can arrange themselves to carry other chemicals. These self-assembling marvels in nanomedicine can help carry gene therapy chemicals and other drugs into specific points of the human body, allowing for a more effective administration of the drugs. In another research effort, scientists have visualized a revolutionary which uses nanomedicine to create a state of dormancy in cancer cells.