Nanoparticles for biomedical, pharmaceutical and cosmetic applications to reach $204.6 mln in 2007
The global market for nanoparticles in biomedical, pharmaceutical and cosmetic applications will be worth $204.6 mln in 2007. This is expected to increase to over $684.4 mln by 2012, a compound average annual growth rate (CAGR) of 27.3%. The market is broken down into applications of biomedical, pharmaceutical and cosmetic applications. Of these, biomedical applications hold the largest share of the market. Worth an estimated $129.5 mln in 2007, this segment is expected to be worth $519.5 mln in 2012, a CAGR of 32.0%. The second largest segment, cosmetic applications, was worth an estimated $72.2 mln in 2007 and will reach $155.8 mln by 2012. Pharmaceutical is currently a $2.9 mln sector that will be worth $9.1 mln in 2012, a CAGR of 25.7%. Within these three broad application segments, three specific applications stand out: biodetection and labeling, orthopedic and dental applications, and sunscreens. Despite impressive growth rates in some other applications, these three applications are expected to account for more than 95% of the market in 2012. BCC Research says.