Nanorobotics Market Growth – at a CAGR of 10.9% During Forecast Period 2020-2028
Growing applications of nanorobotics in tissue engineering, dental surgery, cellular assistance in inflammatory responses, and other areas of healthcare are some major factors driving market revenue growth
According to Emergen Research, the global nanorobotics market size was USD 6.12 billion in 2020 and is expected to reach USD 14.03 billion in 2028 and register a revenue CAGR of 10.9% during the forecast period, 2021-2028.
The global nanorobotics market revenue growth is primarily driven by factors such as rising prevalence of cardiovascular, oncological, orthopedic, neurological, and infectious diseases across the globe, rapid adoption of nanotechnology in the medical industry to improve disease diagnosis and treatment, latest innovations in nanorobotics technology, and increasing applications of nanorobotics in tissue engineering, dental surgery, and cellular assistance in inflammatory responses.
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Nanorobotics technology creates robots or machines such as nanoactuators, nanosensors, and nanomotors, which perform complex tasks and procedures in the healthcare and other industries to help reduce human errors improve efficiency. Growing demand for regenerative medicine, increasing adoption of emerging technologies such as artificial intelligence (AI), machine learning, and deep learning to advance various medical equipment and services, rising demand for miniaturized devices, growing trend of automation in the healthcare industry, and increasing healthcare R&D activities and drug development projects are among the other major factors expected to drive market revenue growth over the forecast period. However, market revenue growth is hampered to some extent due to factors such as increasing complexities with miniaturization of devices and lack of skilled professionals.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Nanomanipulator Segment Accounted for Largest Revenue Share in 2020:
The nanomanipulator segment dominated other segments in terms of revenue share in the global market in 2020. A nanomanipulator system comprises an optical scanning device, a computer interface with 3D visual display, and a physical manipulator that offers variable motion control. Revenue growth of this segment is driven by factors such as increasing applications of nanomanipulators in biological and physical sciences to determine the characteristics of living cells, carbon nanotubes, microchips, and polymers.
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Nanomedicine Segment to Account for Fastest Revenue CAGR:
The nanomedicine segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing applications of nanotechnology in disease diagnosis and treatment, growing use of nanomaterials in drug delivery systems, development of biodegradable nanoparticles, and rise in government investments in medical R&D activities are some of the key factors contributing to revenue growth of this segment.
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America nanorobotics market accounted for the largest revenue share in the global market in 2020. Growing prevalence of cardiovascular, oncological, neurological, and infectious diseases, rise in research & development projects and clinical trials in the healthcare industry, and rapid adoption of nanorobots are some key factors expected to drive market revenue growth in the region. In addition, increasing applications of nanotechnology in tissue engineering and regenerative medicine and presence of leading market players in the region, including Bruker Corporation, Thermo Fisher Scientific, Toronto Nano Instrumentation, and Toronto Nano Instrumentation, are some other major factors expected to support the regional market revenue growth.
Major Companies in the Global Nanorobotics Market Include:
- Bruker Corporation
- Oxford Instruments
- Toronto Nano Instrumentation
- JEOL Ltd.
- Imina Technologies
- Klocke Nanotechnik
- Thermo Fisher Scientific
- Ginkgo Bioworks
- Agilent Technologies
- Park Systems
- Kliendiek Nanotechnik
- EV Group
- Nanonics Imaging
- Novascan Technologies
- Angstrom Advanced
- Hummingbird Scientific
- NT-MDT Spectrum Instruments
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For the purpose of this report, Emergen Research has segmented the global nanorobotics market based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Electron Microscope (EM)
- Scanning Electron Microscope (SEM)
- Transmission Electron Microscope (TEM)
- Scanning Probe Microscope (SPM)
- Atomic Force Microscopes (AFM)
- Scanning Tunneling Microscope (STM)
- Magnetically Guided
Application Outlook (Revenue, USD Billion; 2018–2028)
- Others (Space and Oil & Gas)
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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