Nanobiotechnology sales forecast to reach over US$2000m by 2011

Market analysis by Frost & Sullivan has revealed sales of nanomaterials for use in nanobiotechnology applications generated revenues of US$750m (€598m) in 2004. The figure is projected to reach over $2,000m (€1,600m) by 2011.

Breakthrough applications in nano-scale therapeutics, drug delivery systems, and nano-scale scaffolds for tissue reconstruction are surfacing from laboratories into the development phase.

According to The World Nanobiotechnology Market, part of the Biotechnology subscription research service provided by Frost & Sullivan, as an emerging segment nanobiotechnology holds great potential in the treatment of neurological disorders and cancer, which are areas of unmet medical need.

Most nanobiotechnology products that have satisfied regulatory requirements to date are cosmetics and medicinal creams, which use metallic nanoparticles to improve absorption. Reformulated compounds that use nanoemulsion delivery systems, meanwhile, have gained legislative approval and are commercially available.

In February 2005, the first nanoparticulate therapeutic reached the market, a major step in the development of the nanobiotechnology market.

While devising new applications, competing companies in this sector must take into account the high costs of nanomaterials. Owing to the small quantities involved, it is not feasible to establish large-scale automated manufacturing systems, which makes their manufacture more costly, says Frost & Sullivan.