The Magnetic Nanoparticle Industry is witnessing enormous potential owing to continuous research and development over the past few years. Usage of the magnetic nano carriers in biomedical applications for separation, diagnosis and therapy has been a subject of research for almost a decade. The continuous developments and ongoing research ranging from contrast agents for magnetic resonance imaging to the deterioration of cancer cells via hyperthermia treatment have paved a bright future, especially in medical industry. Thus, owing to such evolution, the Magnetic Nanoparticle Industry is anticipated to grow at a CAGR of around 21% during the forecasted period of 2017-2022.
According to recent report “Global Magnetic Nanoparticle Market by Application [Biomedical (Targeted Drug Delivery, Therapeutic Hyperthermia, MRI), IT and Electronic (Recording Media, Data Storage), Energy Storage] – Forecast to 2022”, the magnetic nanoparticles have been used for a wide number of applications such as high density magnetic data storage devices, magnetic information storage, sewage treatment along with biomedical applications. With the potential to revolutionize the diagnostic and therapeutic techniques, the magnetic nanoparticles have shown various other application areas including drug targeting, cell separation etc.
Targeted drug delivery is one of the major application of Magnetic Nanoparticles that could play a pivotal role to treat cancer, tumors etc. The researches have successfully proven to transport a drug carrying magnetic nanoparticles directly to the centre of the disease under various conditions and thereby treating the disease with no effects on the body.
Further, recent developments by researchers on the magnetic nanoparticles have revealed that Magnetic Nanoparticles have great potential in the area of biomedical applications such as targeted drug delivery, Magnetic Resonance Imaging (MRI) etc. With the ongoing development and research in other areas of biomedical research, the magnetic nanoparticles industry shows promising growth in the future.
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