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Nanomedicine is the medical application of nanotechnology.[1] Nanomedicine ranges from the medical applications of nanomaterials and biological devices, to nanoelectronic biosensors, and even possible future applications of molecular nanotechnology such as biological machines. Current problems for nanomedicine involve understanding the issues related to toxicity and environmental impact of nanoscale materials (materials whose structure is on the scale of nanometers, i.e. billionths of a meter).[2][3]
Functionalities can be added to nanomaterials by interfacing them with biological molecules or structures. The size of nanomaterials is similar to that of most biological molecules and structures; therefore, nanomaterials can be useful for both in vivo and in vitro biomedical research and applications. Thus far, the integration of nanomaterials with biology has led to the development of diagnostic devices, contrast agents, analytical tools, physical therapy applications, and drug delivery vehicles.
Nanomedicine seeks to deliver a valuable set of research tools and clinically useful devices in the near future.[4][5] The National Nanotechnology Initiative expects new commercial applications in the pharmaceutical industry that may include advanced drug delivery systems, new therapies, and in vivo imaging.[6] Nanomedicine research is receiving funding from the US National Institutes of Health Common Fund program, supporting four nanomedicine development centers.[7] The goal of funding this newer form of science is to further develop the biological, biochemical, and biophysical mechanisms of living tissues. [7] More medical and drug companies today are becoming involved in nanomedical research and medications. These include Bristol-Myers Squibb, which focuses on drug delivery systems for immunology and fibrotic diseases; Moderna known for their COVID-19 vaccine and their work on mRNA therapeutics; and Nanobiotix, a company that focuses on cancer and currently has a drug in testing that increases the effect of radiation on targeted cells. More companies include Generation Bio, which specializes in genetic medicines and has developed the cell-targeted lipid nanoparticle, and Jazz Pharmaceuticals, which developed Vyxeos , a drug that treats acute myeloid leukemia, and concentrates on cancer and neuroscience. Cytiva is a company that specializes in producing delivery systems for genomic medicines that are non-viral, including mRNA vaccines and other therapies utilizing nucleic acid and Ratiopharm is known for manufacturing Pazenir, a drug for various cancers. Finally, Pacira specializes in pain management and is know for producing ZILRETTA for osteoarthritis knee pain, the first treatment without opioids.[8]
Nanomedicine sales reached $16 billion in 2015, with a minimum of $3.8 billion in nanotechnology R&D being invested every year. Global funding for emerging nanotechnology increased by 45% per year in recent years, with product sales exceeding $1 trillion in 2013.[9] In 2023, the global market was valued at $189.55 billion and is predicted to exceed $ 500 billion in the next ten years. [8]As the nanomedicine industry continues to grow, it is expected to have a significant impact on the economy.