Newark, NJ, May 18, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global nanotechnology market is expected to grow from USD 2.71 billion in 2019 to USD 5.96 billion by 2027, at a CAGR of 10.36% during the forecast period 2020-2027. North America constitutes large market shares. The ongoing technological advancements and adoption of nanotechnology in different industries are the vital factors contributing to the market growth. Asia-Pacific is the region which is expected to grow with the highest CAGR. The reason behind this is the emerging artificial intelligence firms and the increased usage of nanotechnology in the field of medicine.
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Key players of the nanotechnology market are Thermofisher Scientific, eSpin Technologies, Inc., Biosensor International, Nanoics Imaging Ltd., Applied Nanotech Holdings Inc., Kleindiek Nanotechnik Gmbh, Imina Technologies Sa, Advanced Nano Products, Bruker Axs, and others. Recently, C-Bond Sytems got into a strategic partnership with renowned company MACOMA Environmental Technologies for selling NANO photocatalytic coatings.
The technology segment includes nano machines, nanomaterials and nano factories. Nanomaterials dominates the market share. The growth can be attributed to the varied applicability of nanomaterials in different fields like defence, agriculture, medicine, transportation, etc. The type segment includes nano products and nanosensors. Nano product further includes nano manipulators, nanomechanical test instruments, nanoscale infrared spectrometers and others. Nanosensors include optical nanosensor, biological nanosensor, physical nanosensor and others. Nanosensors holds the largest market share. It is projected to grow at a lucrative growth rate due to continuous technological advancements and the rise of artificial intelligence. The end-user segments include electronics, chemical manufacturing, energy, aerospace & defence, healthcare and others. Among these, chemical manufacturing segment holds the largest market share. Nanotechnology is widely used for the formulation of compounds among industries. It helps to manufacture more durable and lighter materials which are better than conventional products.
Nanotechnology is said to be the manipulation of the matter. It involves the manufacturing of materials as well as devices on the scale of atoms. It includes different branches of science such as organic chemistry, molecular biology, surface science, semiconductor physics, molecular energy, etc. Nanotechnology is a revolutionary technology which has applicability in different sectors. The driving factors for the market are the growing technological advancements in nanotech devices and increased adoption in diagnosis. The market depends on the R&D by the government as it requires a massive amount of funds. Nanotechnology has improved the effectiveness of medical diagnosis. It can detect any disease at an early stage. Thus, the treatment becomes much active. The countries like India and China have a high prevalence of diseases like cancer. Nanotechnology helps to trace the cancer cells, which helps to cure the fatal disease. Moreover, it provides a cost-effective monitoring of infrastructure like bridges, parking structures, tunnels and rails. It also helps the transportation infrastructure to communicate with the vehicle systems, which will reduce road accidents by assisting the driver to maintain the position in the lane and avoid congestions.
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About the report:
The global Nanotechnology market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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