Mar. 19, 2007 — U.S. demand for nanotechnology medical products will increase over 17 percent per year to $53 billion in 2011, says The Freedonia Group, Inc., a Cleveland-based industry research firm. Afterwards, the increasing flow of new nanomedicines, nanodiagnostics, and nanotech-based medical supplies and devices into the US market will boost demand to more than $110 billion in 2016.

The firm reports these and other findings in its new study, Nanotechnology in Healthcare. The critical need for new or improved therapies for many medical conditions will promote the adaptation of nanotechnology to an expanding number of pharmaceuticals, Freedonia says. Advances in nanotechnology will also contribute significant improvements to the quality and performance of medical diagnostic products.

Freedonia says that several medical supplies and devices will emerge as key applications for nanotechnology, but that the greatest short-term impact of nanotechnology in health care will be in therapies and diagnostics for cancer and central nervous system disorders.