Nanotechnology is a study of science and technology which targets to regulate matter at the atomic, molecular, and macromolecular level. New nanotechnologies could bring intense increases in the sensitivity of detection technology for research and diagnostic applications, improved imaging technologies, greater selectivity for drug delivery, and detailed insight into biological mechanisms and systems. Nano biosensors and Nano biochips are used to develop drug discovery and development. Nano scale assays can subsidize substantially to cost-saving in screening promotions. The practise of Nano scale delivery vehicles prominent to the discovery of optimally safe in talling to effective drug candidates, current and promising applications of Nano medicine include, drug delivery, in vitro diagnostics, in vivo imaging, therapy techniques, biomaterials, and tissue engineering .As recognition of the importance of this moving field, it is estimated that the global market of Nano scale applications in medical field might grow to $70 - $160 bn.
According to BCC Research, the global market for nanoparticles in life sciences is assessed at over $29.6 bn for 2014. This market is assessed to raise to more than $79.8 bn by 2019, to record a strong CAGR of 22%.