Nanotechnology Market Size to Reach USD 290.93 Billion in 2028 Growing at a CAGR of 18.3%, according to Emergen Research
Emergen Research has published its latest report titled “Nanotechnology Market Size, Share, Trends, By Type (Nanomaterials, Nanocomposites, Nano devices, Nano tools), By Industry (Food and Agriculture, Healthcare, Information and Technology, Environment, Energy, Cosmetics), and By Region, Forecast to 2028”
According to Emergen Research, the global nanotechnology market size was USD 75.80 Billion in 2020 and is expected to reach USD 290.93 Billion in 2028 and register a revenue CAGR of 18.3% during the forecast period, 2021-2028.
Nanotechnology is the study and management of matter at the nanoscale, where unique phenomena offer revolutionary applications, with diameters ranging from 1 to 100 nanometers. Passive Nano-structures, active nano-structures, molecular nano-systems, systems of nano-systems are four generations of nanotechnology. Advancements in nanotechnology provide significant benefits in healthcare sector by providing breakthroughs in disease diagnosis and monitoring, implanting and regenerating human tissues, improving drug delivery, and developing biomedical research tools. Researchers can use nanomicroscopes to see single molecules and control individual atoms and molecules by moving them around with a small probe. Increasing government emphasis on the use of nanoscience and nanotechnology to develop effective drugs and life-saving medical treatments are some key factors expected to drive revenue growth of the nanotechnology market.
In addition, increased application of nanotechnology in electronics sector to improve display screen & reduce power consumption and to improve fuel consumption efficiency and performance in automobiles are some factors expected to create new opportunities for players in the market. In addition, nanotechnology's unique properties can be used in a variety of products, methods, and applications to safeguard the environment and climate, from conserving energy raw materials and water to minimizing greenhouse emissions and harmful waste. However, high cost associated with the development of nanoparticles, and strict government regulations are some factors expected to restrain nanotechnology market over the forecast period.
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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
Nanomaterials Segment Revenue to Expand at a Rapid CAGR:
Nanomaterials segment is expected to expand at a rapid CAGR over the forecast period due to increasing application of nanomaterials in construction and automotive industry due to its strength and lightweight properties. Globally, nanomaterials are being explored for their potential use on spacecraft, in consumer electronics, artificial intelligence, and in nanomedicine and tissue engineering.
Healthcare Segment to Register Significant Revenue Growth:
Healthcare segment is expected to register significant revenue growth over the forecast period due to increasing applications of nanotechnology in drug development process and rising government and private investments in the healthcare sector. Nanoparticles are being used by scientists and healthcare professionals to develop medication delivery systems, target cancers, and improve medical imaging.
Asia Pacific to Account for Largest Revenue Share:
Asia Pacific is expected to account for largest revenue share in the global market during the forecast period due to increasing application and investments on nanotechnology, especially in China. Catalytic nanomaterials research is considered as most promising area of nanoscience in China. In addition, rising adoption of nanotechnology in medical diagnosis and increasing government R&D funding on the development of miniature technological devices are some other factors expected to drive market growth in the countries in the region.
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Major Companies in the Market Include:
- Fujitsu laboratories, Ltd.
- Bayer Material Science
- GE Healthcare
- IBM research
- Hewlett-Packard Co.
- Altair Nanotechnologies Inc.
- Cypress Semiconductor
- Cortex Biochem
For the purpose of this report, Emergen Research has segmented the global nanotechnology market on the basis of type, industry, and region:
Type Component Outlook (Revenue, USD Billion; 2018–2028)
- Nano devices
- Nano tools
Industry Outlook (Revenue, USD Billion; 2018–2028)
- Food and Agriculture
- Information and Technology
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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