Note: this report follows the Josh Wolfe/Lux Capital/NNI approach of redefining a term used to describe future technology to claim that something is already here and making a lot of money. About 7 years ago, Lux Capital and then National Nanotechnology Initiative (NNI was announced Jan, 2000 redefined nanotechnology from how it was used for 15 years. Advanced nanoscale medicine is starting by putting drugs into nanoscale containers and directing them to the site of cancer tumors. Nanomedicine as has been established as using molecular nanotechnology for the purposes of medicine
Market report on current and projected micromedicine (MEMS) and nanoscale medicine $1bn exists for these technologies, predominantly in MEMS (microelectromechanical systems), but steady growth is building toward hundred-fold larger markets by 2015, with nanoscale tech applications contributing a lion's share.
Currently established MEMS applications include pacemakers, glucose monitoring, biochips (genechips), OTC tests, insulin pumps, nebulizers, needleless injectors, hearing aids, activity monitors, blood pressure, medical flow sensors, and drug delivery systems.
In nanoscale medicine, current applications include cancer chemotherapy, a new generation of drug delivery systems, wound dressings that exploit the antimicrobial properties of nanocrystalline silver, and others.