Middle East Cancer Nanotechnology Market: Current Analysis and Forecast (2023-2030)

Nanotechnology offers the means to target therapies directly and selectively for cancerous cells and neoplasms. With these tools, clinicians can safely and effectively deliver chemotherapy, radiotherapy, and the next generation of immuno- and gene therapies to the tumor. The market for biliary cancer is primarily driven by the factors such as an aging population, and an increase in incidence rates. For instance, as per the NCBI, There were 463,675 new cancer cases estimated to be in Arab countries, corresponding to 2.4% of the global incidence. Females' cancers accounted for 52.9% of that number, compared with 47.8% worldwide.

The Middle East Cancer Nanotechnology Market is expected to grow at a steady rate of around 26% owing to the presence of better health infrastructure. The increasing technical advancements, along with the presence of the well-established healthcare infrastructure in the region are responsible for the growth of the middle east market biliary tract cancers.

Based on type, the market is segmented into nanoparticles, nanofibers, nanorods, graphene, nanofluidic devices, and others. Among these, nanoparticles have a significant share of the market. This is because drug delivery devices and systems increased as nanoparticle drug formulations are vital in pulmonary drug delivery. The nanoparticles can deliver the normally insoluble drugs to local and distant tumor sites in a better way, thus reducing the systemic side effects generally associated with traditional drug therapies.

Based on application, the market is segmented into diagnostics, therapeutics, and theranostics. Among these, diagnostics has a high market share in 2022 and will dominate during the forecast period. This is due to the rise in the adoption of nanotechnology in medical diagnosis and imaging is increasing the market growth demand. In biomedical research, nanotechnology is widely used against COVID-19, as in numerous vaccinations that use nanoparticles as a treatment based on the encapsulation of the active ingredient of certain medications. Numerous nanosystems have been found to be better candidates for therapeutic purposes than conventional ones. Thus, this factor boosts market growth.

Based on the cancer type, the market is segmented into breast cancer, stomach cancer, lung cancer, and others. Among this breast cancer will attain a high market share during the forecast period. Breast cancer held more than 60% share in the market owing to the presence of wide range of nanotechnology for the management of breast cancer and the surge in the prevalence of breast cancer.

For a better understanding of the market adoption of the middle east Cancer Nanotechnology industry, the market is analyzed based on its presence in the countries such as Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, and Rest of Middle East. UAE is anticipated to grow at a substantial CAGR during the forecast period. The United Arab Emirates (UAE) is a country located in the Middle East and is home to a growing population of cancer patients. Biliary tract cancer is a relatively rare type of cancer in the UAE, but it is still an important health concern for the country. Further, in the UAE, the treatment of biliary tract cancer typically involves a combination of surgery, chemotherapy, and radiation therapy. The choice of treatment will depend on the stage of the disease, the patient's overall health, and other factors.

Some of the major players operating in the market include: Johnson & Johnson, GE Healthcare, Combimatrix Corporation (Invitae Corporation), F. Hoffmann-La Roche, Sigma-Tau Pharmaceuticals Inc., Merck and Company Inc., Pfizer, Inc., Nanosphere, Inc. (Luminex Corporation), Celgene Corporation, and Teva Pharmaceutical Industries among others.