The Global Smart Drugs Market was USD257.6 Million in 2018. It is expected to be around USD459.27 Million in 2023 with a current CAGR of 12.26 %.The Global Smart Drugs Market is expected to witness rapid growth during the forecast period (2018 – 2023). North America holds the most significant shares of the market & Asia Pacific is expected to grow as the fastest regional market during the forecast period (2018 – 23).
Recently a research paper was published in Journal of the Taiwan Institute of Chemical Engineers on the use of Chitosan nanocapsule – mounted cellulose nanofibrils as nano ships for smart drugs delivery systems & treatment of avian trichomoniasis. Trichomonas gallinae is a category of parasites that cause avian trichomoniasis in birds, due to this reason there is huge revenue in the agrarian economy. Earlier it was treated using metronidazole, but due to the resistance of against the drug, new drug development is being carried on. A biocompatible nanocomposite with Chitosan nanocapsules & cellulose nanofibrils was used to address the antitrichomonal activity. The test results showed excellent anti – protozoa efficiency. It was found that there was complete inhibition when T. gallinae is treated with a mixture of Chitosan nanocapsules & cellulose nanofibrils.Recently a research paper was published by the British Neuroscience Association (BNA) regarding the Neuroethical issues in cognitive enhancement considering Modafinil as an example of a workplace drug. The consumption of modern cognitive – enhancing drugs for improving cognition & mood such as cocaine, ecstasy, methamphetamine, etc. have shown much-downgraded results when consumed frequently. Therefore, some cognitive-enhancing medicines such as Modafinil & methylphenidate have been developed, which affects not only cold cognition but also improves hot cognition such as emotion & task motivation.
Smart Drugs Market Drivers & Restraints:
Due to the increase in the geriatric population, there has been a sudden upsurge in chronic diseases such as cancer, diabetes & others, mostly because of the lifestyle of the community. The need to improve the condition is likely to boost the growth of Smart Drugs market. Increased investments in the R&Ds & technological advancements for the development of smart drugs are also very crucial reasons to improve the market’s condition. However, strict government policies regarding the abuse & regulation of product are likely to inhibit the growth of Smart Drugs market.
By geography, the market is segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. North America is the largest market share holder & is expected to be the largest market during the forecast period (2018 – 23). Asia Pacific region is growing at the fastest pace due to developing economies & availability of a maximum number of consumers within the region. The Asia Pacific is region has the most significant demographic dividend among all the other region, establishing it as the largest & fastest growing Smart drug market region in the coming years.
Key Market Players:
Some of the key market players are CapsoVision, Inc., Medtronic Plc., Olympus Corporations, IntroMedic Co., Ltd, Proteus Digital Health, HQ, Inc., Koninklijke Philips N.V., & JINSHAN Science & Technology. The Support players in the supply chain (not a part of the report but can be provided on the request of the customer) include Bio-Images Drug Delivery (BDD) Limited, Quotient Clinical Ltd., Innovative Devices LLC, GE Healthcare, Novartis AG, Fujifilm Holdings Corporation, & PENTAX Medical.
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Research Report Key Highlights:
Smart Drugs Market
Smart Drugs Market