Abstract
Massive Hype Wins Nanobiotechnology Both Funds and Performance Pressure
Since the space race of the 1960s, few other science sectors have received as much media
attention as nanotechnology. The hype has attracted large sums of reactionary public and venture
capital funding, and has brought with it associated pressures to justify these generous investments.
Several U.S. agencies expect the global nanotechnology market to be worth more than $1 trillion in
2015. The nanobiotechnology market, as a component of nanotechnology, has less than ten commercially
viable products currently in the pipeline, there is little to suggest that the market will achieve
the kind of revenue that is expected of it.
This Frost & Sullivan research service provides an overview of the World nanobiotechnology
market. It analyzes nanomaterial markets specific to the nanobiotechnology sector, as well as
application of these nanomaterials in pure therapeutics, drug delivery systems, and tissue
reconstruction.
Heavy Funding Drives Expansion of the Nanobiotechnology Market
Nanobiotechnology applications are predominantly in the research and development phase. Over $3
billion in public funding was available worldwide for nanotechnology research in 2003, with around 8
percent dedicated to the nanobiotechnology sector. Public and private investment are sponsoring
research projects in academia and facilitating the establishment of start-up and spin-off companies
with the purpose of commercializing nanobiotechnology applications.
It is now the responsibility of the market participants to incorporate the technology -- refined
after extensive global research -- in commercially viable products. "Funding has been used to
set up sound infrastructure, particularly in the United States and Europe, for small companies to
network and collaborate," says the analyst of this research. "It is essential for industry
participants to be aware of what funding sources are available and where, as this indicates hot
spots for business opportunities."
International Regulatory Bodies Evaluate Legislation to Account for Novel Nanomaterials
The Food and Drug Administration (FDA) in the United States and the European Medicines Agency (EMEA)
in Europe control the registration and regulation of drugs. Since nanotechnologies can neither be
classified collectively nor grouped under specific therapeutic categories, both agencies have
decided that new drugs will be treated according to the targeted therapeutic goal. "Regulatory
agencies have already approved several products with components in the nanoscale range, as most
drugs, when entering the body, are at some point broken to nanoscale proportions," notes the
analyst. "The focus now is on assessing the potential impact of novel nanomaterials such as
dendrimers, fullerenes, and nanoparticles."
The FDAs Centre for Drug Evaluation and Regulation (CDER) has set up a nanotechnology working
group to assess existing evidence and develop new guidelines for nanobiotechnology products. In the
United Kingdom, the British Standards Institution (BSI) has suggested a new field of classification
for innovative nanomaterials to the International Organization for Standardization (ISO). "This
involves standardization and classification of nanomaterials, as well as the development of new
tests that can be used to assess the properties of novel materials," observes the analyst. | 
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