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Lipid Nanoparticle Raw Materials Market Size
Lipid Nanoparticle Raw Materials Market size was valued at around USD 227.4 million in 2023 and is estimated to grow at 5.7% CAGR from 2024 to 2032. Lipid nanoparticles (LNPs) are colloidal particles composed of lipids that are used as carriers for delivering drugs, genes, or other therapeutic agents to specific target cells or tissues. The raw materials used in the production of lipid nanoparticles typically include various lipids, stabilizers, and sometimes targeting ligands or other functional molecules.
The rise in chronic diseases such as cancer, diabetes, and cardiovascular disorders has led to a higher demand for efficient novel drug delivery systems. For instance, in 2021, an estimated 38.4 million Americans, making up about 11.6% of the population, were affected by diabetes, according to the American diabetes association. Out of total diabetic population, approximately 2 million individuals had type 1 diabetes, with around 304,000 being children and adolescents. Among the entire adult diabetic population, 29.7 million had been diagnosed, while 8.7 million remained undiagnosed. Therefore, lipid nanoparticles offer a promising solution by improving the stability, bioavailability, and targeted delivery of therapeutic agents, thereby enhancing treatment efficacy propelling the market growth.
Furthermore, government initiatives aimed at promoting research and development in the healthcare sector, particularly in the field of nanotechnology-based drug delivery which is estimated to reach USD 308.4 billion by 2032 and pharmaceutical drug delivery, have provided a significant boost to the lipid nanoparticle raw materials market.
How big is the North America lipid nanoparticle raw materials market?
North America lipid nanoparticle raw materials industry reached USD 92.5 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to the rising incidence of chronic ailments like cancer and diabetes in the region.
Who are the key leaders in the lipid nanoparticle raw materials industry?
Biopharma PEG Scientific Inc., BroadPharm, CordenPharma, Creative Biolabs, Croda International Plc, Echelon Biosciences, Merck KGaA, NOF Corporation, Polysciences, Inc., and Tebubio, are some of the major lipid nanoparticle raw materials companies worldwide.
Why is the use of kits in lipid nanoparticle raw materials growing?
Lipid nanoparticle raw materials industry from the kits segment is expected to reach USD 195.1 million by 2032 due to a rising demand for specialized lipid components such as ionizable lipids, PEGylated lipids, sterol lipids, and neutral phospholipids, essential for formulating lipid nanoparticles.
What is the value of the lipid nanoparticle raw materials industry?
Lipid nanoparticle raw materials market size was USD 227.4 million in 2023 and is expected to register 5.7% CAGR from 2024-2032 owing to the rise in chronic diseases such as cancer, diabetes, and cardiovascular disorders worldwide.