Nanotechnology Market Size to Grow at a CAGR of 10% in the Forecast Period of 2023-2028

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The ‘Global Nanotechnology Market Size, Share, Scope, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global nanotechnology market, assessing the market on the basis of its segments like type, application, and major regions.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

Nanotechnology Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

  • Historical Market Size (2022): USD 1.45 billion
  • Forecast CAGR (2023-2028): 10%

The global nanotechnology market is expected to register growth during the forecast period on account of the surging usage of nanotechnology in different applications like energy, healthcare, and manufacturing, among others. The rising investments by several manufacturers and growing research and development activities on new nanotechnology applications in healthcare for different viral illnesses detection, treatment, and prevention are expected to fuel the market demand for nanotechnology.

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Nanotechnology is increasingly being used in imaging and biomedical applications, photothermal therapy, drug delivery, and implants due to their versatility. This is expected to propel the nanotechnology market across the globe. Going further, the surging popularity of nanotechnology in electronics applications, both for commercial and industrial electronics is likely to increase the demand for nanotechnology. With nanotechnology, the potential applications in electronics are immense, for both nano sensors and nano devices.

Advancements in nanotechnology are expected to support the growth of the market in the coming years, as applications increase multi-fold and costs involved are reduced. Although several nanotechnology devices and sensors are already available, their relatively high costs can pose as a barrier for implementation for companies and end users with limited budgets.

Nanotechnology Industry Definition and Major Segments

Nanotechnology is described as the branch of engineering and science dedicated to producing, designing, along with utilising devices, systems, and structures by influencing molecules and atoms at the nanoscale, i.e., having one or more dimensions of the order of 100 nanometres or less. It involves the understanding of nanometre-scale objects.

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Based on type, the market is segmented into:

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  • Nano Sensors
    • Optical Nano Sensor
    • Chemical Nano Sensor
    • Physical Nano Sensor
    • Biosensors
    • Others
  • Nano Device
    • Nanomanipulator
    • Nanomechanical Test Instruments
    • Nanoscale Infrared Spectrometers
    • Others

By application, the market is classified into:

  • Electronics
  • Energy
  • Chemical Manufacturing
  • Aerospace and Defence
  • Healthcare
  • Others

Based on region, the market is divided into:

  • North America
  • Latin America
  • Asia Pacific
  • Europe
  • Middle East and Africa

Nanotechnology Market Trends

Geographically, the Asia Pacific region is anticipated to gain momentum in the nanotechnology market over the coming years on account of an increase in investments and applications of nanotechnology. The rising adoption of nanotechnology in medical diagnoses along with the increasing support of various governments towards research and development of miniature technological devices is likely to aid the market growth of nanotechnology across the region.

The large populations in the Asia Pacific are likely to form a massive consumer base which is further expected to boost the demand for automotives, consumer electronics, medical products, and textiles. The significant production of electronics in the Asia Pacific region is also driving the market growth of nanotechnology.

China is expected to account for substantial growth in the nanotechnology market due to the presence of a strong manufacturing hub for electronics in the country, supported by favourable policies by the government and low-cost production. With the growing presence of manufacturing facilities of various industries in the country, the demand for nanotechnology is likely to bolster across production plants.

Meanwhile, Europe is expected to register growth in the nanotechnology market over the upcoming years on account of the rise in investments across industrial development. With the increasing demand for advanced and innovative technologies across the commercial and industrial sectors, the demand for nanotechnology in production facilities is likely to escalate.

The well-developed healthcare infrastructure coupled with better access to innovative healthcare facilities in the region is likely to enhance the demand for innovative diagnostic devices and surgical robots that utilise nanotechnology.

Key Market Players

The major players in the global nanotechnology market report are :

  • Altair Nanotechnologies Inc.,
  • Applied Nanotech Inc
  • Advanced Nano Products Co Ltd
  • Bruker Corporation
  • Biosensors International Group Ltd.
  • Espin Technology Inc.
  • Imina Technologies SA
  • Nanonics Imaging Ltd.
  • DuPont de Nemours, Inc.
  • Arkema Group
  • others

The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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