The most extraordinary possibilities of nanotechnology and MEMS (microelectromechanical systems) remain to be developed, yet a $billion+ market already exists for these technologies in biomedical applications, spanning cancer treatment, drug delivery, wound management, sensor technologies, pacemakers, molecular diagnostics, hearing aids and others. The current markets, the current status of development and the emerging and potential markets worldwide are detailed in a new report from MedMarket Diligence.
MedMarket Diligence has released a report on the worldwide status of development and market for Micro- and Nanomedicine (see http://www.mediligence.com/rpt-t625.htm).
"The product and market development of nanotechnology and MEMS -- even limited to those in the biomedical field -- cover an incredibly diverse range of technologies, scientific disciplines, products and applications," says Patrick Driscoll, President of MedMarket Diligence (MMD). "And this has previously precipitated some wildly optimistic forecasts of market potential, yet the reality is that there are in fact many current, commercially established biomedical applications of nanotech and MEMS that are finally grounding some of the potential in real market success." According to Driscoll, a better than $1 billion market exists for these technologies, predominantly in MEMS, but steady growth is building toward hundred-fold larger markets by 2015, with nanotech applications contributing a lion's share.
As of May 2006, around 150 of the largest companies in the world had structured nanotechnology initiatives (i.e. research projects or product development plans) but that number may rise to around 300 over the next two or three years. With such enormous private investment being added to federal investment in the U.S. and similar government investment by other countries, there is a solid financial foundation for biomedical nanotechnology and MEMS market development.
Currently established MEMS applications include pacemakers, glucose monitoring, biochips (genechips), OTC tests, insulin pumps, nebulizers, needleless injectors, hearing aids, activity monitors, blood pressure, medical flow sensors, and drug delivery systems.
In nanomedicine, current applications include cancer chemotherapy, a new generation of drug delivery systems, wound dressings that exploit the antimicrobial properties of nanocrystalline silver, and others.
The MedMarket Diligence report is an assessment of the products and technologies under development of medical technologies at the nanometer scale and micrometer scale, and an assessment of the market potential for products/technologies to be successfully commercialized for use in clinical practice within a ten year forecast period. The report identifies the technological, market, regulatory or other hurdles to be crossed en route to commercialization. The report provides particular emphasis in detailing the current activities and status of product development at active companies. The report provides a thorough review of the companies active in nanotech and MEMS development, with profiles of over 100 companies. The report details, including table of contents, may be found at http://www.mediligence.com/rpt-t625.htm.
MedMarket Diligence provides tactical decision-making solutions on medical technology to the medical products and investment industries. The company publishes the MedMarkets newsletter, a monthly analysis of the market implications of new medical technologies, and dedicated reports on technology markets. MedMarkets has identified hundreds of startup companies (many in stealth mode) and tracks market trends and opportunities emerging from changes in clinical practice, new technology development and other market drivers. For additional details, contact Patrick Driscoll at email or call 949-859-3401 or toll-free (in the U.S.). 1-866-820-1357.
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