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Nanotechnology in Medicine: Its Time Has Come
Decision Resources, Inc., March 2006, Pages: 26
Nanotechnology touches upon many aspects of medicine, including drug delivery, diagnostic imaging, clinical diagnostics, nanomedicines, and the use of nanomaterials in medical devices. This technology is already having an impact; many products are on the market and a growing number are in the pipeline. Momentum is steadily building for the successful development of additional nanotech products to diagnose and treat disease; the most active areas of product development are drug delivery and in vivo imaging.
Nanotechnology is addressing unmet needs in the pharmaceutical industry, including the reformulation of drugs to improve their bioavailability or toxicity profiles. The next five years should see a steady succession of new nanomedicines entering the marketplace.
In this report, we cover recent developments in nanotechnology as well as general trends in the industry. The report explores the nanotechnology industry that is involved in developing medical products and procedures, the corresponding therapeutic and diagnostic markets, products under development, the current investment climate, challenging patent and business strategies, and the outlook for nanotechnology in medicine.
Business Implications
With at least 12 nanomedicines already approved and progressively more in active development, the next five years should see a steady succession of new nanotech-based drugs, imaging agents, and diagnostic products entering the marketplace. The most active areas of medical nanotechnology are in drug delivery and in vivo imaging.
Nanotechnology is addressing unmet needs in the pharmaceutical industry, including the reformulation of drugs to improve their bioavailability or toxicity profiles. For instance, four drugs have been approved based upon Elan's nanocrystal technology. Nanoparticles have also been designed to effectively target disease sites for treatment, including Abraxane, a breast cancer treatment developed by American Pharmaceutical Partners.
Although levels of financing from public markets and private investments have declined recently, in part because of adverse market conditions, the investment community is taking nanotechnology seriously. No fewer than six new stock indices have been launched to track nanotech, and at least four publicly traded venture capital fi rms now specialize in nanotechnology.
Nanomedicine markets will be complex and competitive as companies employ nanotechnology to extend patent term, exclusivity, and market life. Impediments to nanotechnology commercialization include the creation of effective strategies to untangle complicated intellectual property situations, the effective licensing and commercialization of nanotech products, and the better understanding of safety, health, and environmental risks.
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