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The Medical Application of Magnetic Nanoparticles Has Good Benefits, with More Than Half of the North American Market Share

Magnetic nanoparticles are a class of nanoparticle that can be manipulated using magnetic fields. Such particles commonly consist of two components, a magnetic material, often iron, nickel and cobalt, and a chemical component that has functionality. It has good magnetic guidance, biocompatibility and biodegradability.

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.

Magnetic nanoparticles can be divided into iron oxide nanoparticles and magnetic microspheres: Iron oxide nanoparticles are iron oxide particles with diameters between about 1 and 100 nanometers. The two main forms are magnetite (Fe3O4) and its oxidized form magnetite (γ-Fe2O3). They have attracted extensive interest due to their superparamagnetic properties and their potential applications in many fields，occupying most of the market, with a market share of 75.04% in 2017. Magnetic microspheres are supramolecular particles that are small enough to circulate through capillaries without producing embolic occlusion but are (ferromagnetic) to be captured in micro vessels.

Biomedical is a popular application market of magnetic nanoparticles, such as drug delivery, drugs and therapy, in vivo imaging, Nano fluids, biomedicine, data storage, and microfluidics, which is a great help for disease treatment, accounting for about half of the entire market. In the information technology and electronics industries, magnetic nanoparticles are widely used in recording media and data storage. For energy storage applications, Fe3O4 and other materials are used to improve the efficiency of Li-ion batteries. Attributing to the inclination of people towards highly efficient devices, the energy storage industry is expected to boost the magnetic nanoparticle market. Except for the above applications, there are still other fields using magnetic nanoparticles, such as waste water treatment etc.

Prospect Analysis of Magnetic Nanoparticle Industry in Various Regions

After a period of development, the magnetic nanoparticles industry is in a growth period, with a fierce competition institution. The top three companies are all from North America, occupying 37.31% of the market share. They are Cytodiagnostics, Nvigen and Nanophase. In 2017, the market shares were 19.77%, 9.77% and 7.78%.

In the 2017 global magnetic nanoparticles industry market share chart, North America, Europe, China, Japan, Middle East and Africa, India and South America accounted for 57.10%, 20.26%, 8.19%, 6.18%, 1.51%, 1.82% and 1.92%, respectively. Thus it can be seen that North America is the largest revenue market with a vast market and basically monopolizes the magnetic nanoparticles industry. Europe ranks second and has developed rapidly in recent years. With the continuous economic and technological progress, the increase of per capita income and the improvement of living standards in emerging developing countries such as China and India, it is expected to become the region with the fastest growth rate of magnetic nanoparticles in the future.

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Magnetic nanoparticles are largely restricted by raw materials, which account for 78.73% of their cost structure, while equipment, energy and labor costs only account for 5.82%, 4.65% and 5.71%. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends and will be in a state of fluctuation as a whole.

The Broad Market of Magnetic Nanoparticle Industry

In 2013, the total market value of the global magnetic nanoparticle industry was 12.06 million U.S. dollars and increased to 23.89 million U.S. dollars in 2017. We predict that by 2023, the total value of the global magnetic nanoparticles market will reach 70.47 million U.S. dollars, with a compound annual growth rate of 19.76% from 2017 to 2023.

Growth of the magnetic nanoparticle market is expected to gear up, due to the application of these particles in various fields. In the medical industry, continuous research and development towards magnetic resonance imaging for the treatment of cancerous cells is expected to lead the magnetic nanoparticle market. It is expected that the electronics industry will claim a major share in the magnetic nanoparticle market, due to the high utilization of these particles in the electronics industry. For energy storage applications, attributing to the inclination of people towards highly efficient devices, the energy storage industry is expected to boost the magnetic nanoparticle market. Nano powders and solutions containing nanoparticles are widely used in separating contaminants from water as nanoparticles provide high surface area and recyclability. This has spurred increasing research activities in the magnetic nanoparticle market, which are expected to stimulate growth of the magnetic nanoparticle market.

In developed market, they have more international companies, good channels, highly market maturity, fierce competition, a highly competent management team, technology and finance advantages, keep on innovation, prominent market participants invest heavily in R&D, with introduction of new technologies to their products, all of which make a growing market demand for magnetic nanoparticles.

Nowadays, with the development of synthesis technology, a series of magnetic nanoparticles with controllable shape, good stability and monodisperse have been successfully produced. In the future, with the progress in science and technology, more advanced production methods, investment of companies, there will be more cost effective, high performance product. Enterprises can also explore markets in developing countries, such as China and India, which are developing their industries. With the progress of economy and technology, the increase demand of downstream, the market of magnetic nanoparticles has great market potential.

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