(EMAILWIRE.COM, April 06, 2018 ) The Latin America Nanomedicine Market was worth USD 15.04 billion in 2017 and is projected to grow at a CAGR of 14.1%, to reach USD 29.1 billion by 2022. The application of various techniques and instruments of nanotechnology in the field of medicine is known as Nanomedicine. It involves using nanoscale materials to diagnose diseases, drug delivery and other functions. Nanomedicine has the potential to revolutionize medicine in the future.

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One of the major challenges for the use of nanoparticles in medicine is to make the materials as biocompatible. Applications of nanocapsules in drug delivery have shown excellent results in chemotherapy. Nanomedicine enables great precision in both diagnostics and therapeutics which is not possible before. Pipeline products which are being developed with the intention to target cancerous tumors are expected to boost the nanomedicine market.

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Increasing applications of nanomaterials such as nanocapsules and nanotubes in drug delivery systems, growing number of cancer and cardiovascular diseases, increasing public and private investments on research activities in nanomedicine and advancements in the biodegradable nanoparticles are the major factors propelling the growth of nanomedicine market. However, unfavorable approval processes possibility for unintended risks during therapies and high cost of treatment using nanomedicine are hindering the market growth.

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The Nanomedicine market is segmented by product, disease type, nanomolecule type and region. On the basis of product, the market is categorized into Diagnostic Imaging, Regenerative Medicine, Drug Delivery, Implants, Vaccines and Others. Drug delivery products are accounted for the largest market share. It is due to the incredible precision with which drugs are delivered to the target cells or tissues in the body. On the basis of disease type, the market is categorized into Cardiovascular Diseases, Neurological Diseases, Ophthalmological Diseases, Infectious Diseases, Immunological Diseases, Orthopedic Disorders, Oncological Diseases and Others. Oncological diseases segment dominates the market. It is because majority of the research conducted on nanomedicine is focused on developing products for cancer treatment. Cardiovascular diseases segment is expected to be rapidly growing owing to the increase in the geriatric population. On the basis of nanomolecule type, the market is categorized into Nanotubes, Nanoparticles, Nanodevices, Nanoshells and Others.

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On the basis of region, the Latin America Nanomedicine market is segmented into Brazil, Argentina, Mexico and Rest of South America. Brazil leads the nanomedicine market in this region. Developing healthcare sector and increasing investments from government are driving the market growth.

Some of the major players in Nanomedicine market are Johnson & Johnson, Merck & Co, Pfizer, Abbott Laboratories, GE Healthcare, Celgene Corporation, Nanosphere, Inc, Gilead Sciences, Hoffmann-La Roche, Nanospectra Biosciences, and Arrowhead Pharmaceuticals.

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