An Elucidative Review to Analytically Sieve the Viability of Nanomedicine Market

Abstract

The advent of the twenty-first century marked a paradigm shift in the healthcare sector with coming of automated, sensitive, targeted medicines and technologies having diagnostic, prophylactic and therapeutic effects. Nanomedicines also attained wide acclamation in their initial years, but the transformation from being the proof of concept to successfully marketed products seems very daunting. Although the reason for this may be attributed to slow but incremental character of many present-day technologies, the review asserts that there are other significant facets that may purvey a thorough explanation of this scenario. The article elaborately discusses the hurdles hindering clinical translation of nanomedicines including scale-up challenges, in vitro in vivo cascade of toxicology assays, along with unrefined manufacturing guidelines, inadequate regulatory approvals, competitive conventional market, etc., leading to hesitant investments by pharmaceutical giants. The paper also explores the economic viability of nanobiotechnology sector through an empirical investigation of the revenue data of various pharmaceutical industries manufacturing nano-based drugs, which indicates minor commercial importance of these medicines. We also laid down a comprehensive set of recommendations to smoothen the translational pathway of nanomedicines from an idea to reality, efface the consumer distrust and push boundaries for development and launching of safe, efficient and commercially successful products. Keywords Nanobiotechnology. Nanomedicines. Nanopharmaceuticals. Clinical translation For the past few decades, nanobiotechnology has been proclaimed as the 'revolution in making' with the potential Highlights • Nanomedicines are extensively researched for their highly claimed efficacy, biocompatibility and unexplored potential. • The clinical translation of nanopharmaceuticals from laboratory to market undergoes many challenges on their pathway. • Major hurdles restricting the market dominance of nanomedicines includes limited investments by pharmaceutical, toxicological assays, biocompatibility risks, scale-up issues, regulatory limitations, etc. • Comparative analysis of annual reports of big pharmaceutical companies for gross sales and revenue contributed by nanomedicines. Recommendations to improve the research, development, manufacture and sales of nanopharmaceuticals.

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