New York, United States , Dec. 07, 2023 (GLOBE NEWSWIRE) -- The Global Nanotechnology Market Size is to Grow from USD 3.78 Billion in 2022 to USD 74.1 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 34.5% during the projected period. The rising adoption of nanotechnology in various applications such as information technology, homeland security, medicine, transportation, food safety, environmental science, and others in several industries including electronics & semiconductor, automobiles, IT & telecom, biotechnology, textile, aerospace, chemicals & advanced materials, healthcare & pharmaceuticals, and others are expected to boost the demand for the nanotechnology market during the forecast period.
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Nanotechnology, often known as nanotech, is the research study and manipulation of matter at the molecular, atomic, and even subatomic levels in order to produce new structures, materials, and gadgets. The technique provides scientific advancement in a wide range of disciplines, including medicine, consumer products, energy, materials, and industrialization. Nanotechnology has a significant impact and is a breakthrough and useful technology in many industrial domains, including communication, medicine, transportation, agriculture, energy, material research and manufacture, consumer products, and housing. Nanotechnology has the potential to transform medical treatment in a number of ways. The growing popularity of nanotechnology in a variety of applications, as well as rapid technical breakthroughs in the medical industry, are driving the global nanotechnology market forward. Rising expenditure by major players, as well as increasing adoption of nanotechnology in various applications such as agriculture, energy, manufacturing, and healthcare, are among the significant drivers expected to drive global nanotechnology market dynamics over the forecast period. The nanotechnology market is growing due to increased demand for nanotechnology-based equipment and gadgets in the food and agriculture sectors, which have the potential to improve food quality and safety. Furthermore, the market's expansion is predicted to be fueled by significant government support and R&D investment over the projection period.
Browse key industry insights spread across 210 pages with 110 market data tables and figures & charts from the report on the "Global Nanotechnology Market Size, Share, and COVID-19 Impact Analysis, By Type (Nanosensors, Nanodevice), By Application (Electronics & Semiconductor, Automobiles, IT & Telecom, Biotechnology, Textile, Aerospace, Chemicals & Advanced Materials, Healthcare & Pharmaceuticals, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The nanodevice segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global nanotechnology market is segmented into the nanosensors and nanodevice. Among these, the nanodevice segment is dominating the market with the largest revenue share of 53.6% over the forecast period. Nanodevices have shown great promise in a wide range of healthcare and medical applications, including targeted medication administration, imaging, diagnostics, and regenerative medicine. These applications have attracted tremendous interest and investment, resulting in a larger market share for the segment.
The healthcare & pharmaceuticals segment accounted for the largest revenue share of more than 32.8% over the forecast period.
On the basis of application, the global nanotechnology market is segmented into electronics & semiconductor, automobiles, IT & telecom, biotechnology, textile, aerospace, chemicals & advanced materials, healthcare & pharmaceuticals, and others. Among these, the healthcare & pharmaceuticals segment is dominating the market with the largest revenue share of 32.8% over the forecast period. The amazing rise in the usage of nanotechnology across a wide range of medical applications, including surgical nano-robots, nano-diagnostics, nano-biosensors, cell healing, imaging, and targeted drug administration, is the primary force driving the medical segment's rapid growth. Nanotechnology can also be used to detect infectious diseases, which is boosting business growth.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 34.7% market share over the forecast period. This is because governments in the region are increasing their R&D spending, which is boosting demand for new and sophisticated nanotechnology-based solutions in a number of applications. Furthermore, some corporations in the region have begun to embrace nanotechnology and have made significant investments in emerging innovations such as Artificial Intelligence (AI), biotechnology, and others in an effort to revolutionize healthcare facilities and infrastructure and provide better market solutions. Given its technological superiority, outstanding universities, and extensive corporate and public R&D spending, the United States has been a significant contributor to the expansion of the nanotechnology sector. On the contrary, Asia Pacific is predicted to grow the fastest during the forecast period. The region's nanotechnology market is being fueled by rapid industrial expansion and increased R&D investments. Furthermore, the region has a strong manufacturing basis, and nanotechnology has found applications in industries as diverse as electronics manufacturing, textile engineering, and even cosmetics. During the forecast period, the Europe market is expected to rise at a significant CAGR.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Nanotechnology Market include Fujitsu Limited, Bruker Corporation, Altairnano, Bayer AG, Thermo Fisher Scientific Inc., Kleindiek Nanotechnik GmbH, Infineon Technologies AG, eSpin Technologies, Inc., Nanonics Imaging Ltd., ANP CORPORATION, Biosensors International Group, Ltd., Imina Technologies SA, Advanced Nano Products Co., Ltd., Applied Nanotech, Inc. and among others.
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Recent Developments
- On June 2023, Sona Nanotech, a nanotechnology company researching pre-clinical Targeted Hyperthermia Therapy for colorectal cancer, has announced that Minnetronix Medical has been selected to engineer the second generation of its infrared light device. The gadget will be employed in Sona's Targeted Hyperthermia Therapy development to transport energy via infrared light to Sona's unique, biocompatible gold nanorods in malignant tumors, which will subsequently convert the light energy into heat. The light gadget is being developed to fit in the auxiliary channel of oncology gastroenterologists' sigmoidoscopes and colonoscopes.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Nanotechnology Market based on the below-mentioned segments:
Nanotechnology Market, Type Analysis
- Nanosensors
- Nanodevice
Nanotechnology Market, Application Analysis
- Electronics & Semiconductor
- Automobiles
- IT & Telecom
- Biotechnology
- Textile
- Aerospace
- Chemicals & Advanced materials
- Healthcare & Pharmaceuticals
- Others
Nanotechnology Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
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