Nanorobotics Market Valuation to Reach USD 14.03 Billion in 2028 | Rapid Innovations in the Technology and Rising Application in Treatment of Neurological Diseases will Drive Industry Growth, says Emergen Research
VANCOUVER, B.C., July, 22, 2021 /PRNewswire/ -- The global nanorobotics market size is expected to reach USD 14.03 Billion in 2028 and register a CAGR of 10.9% over the forecast period, according to the latest report by Reports and Data. Nanorobotics is used to treat illness and injuries that require immediate care, and increasing investment in urgent care and rapid increase in the global geriatric population are some key factors driving market revenue growth.
Nanorobotics is used in disease monitoring, pharmacokinetics, for improving efficiency and effectiveness of healthcare, and targeting drug delivery in cancer therapeutics. Nanorobotics is also used for maintaining and assembling sophisticated systems. Extensive application of nanorobotics in the medical sector is also driving market revenue growth. Nanorobots serve as antiviral or antibodies agents in patients suffering from disease or with compromised immunity. The technology is also being used in cancer detection and treatment as well as in gene therapy. Use of nanorobotics in dentistry procedures and as ancillary devices in different chemical reactions and for monitoring and controlling glucose levels in diabetic persons.
Advancements in molecular robots and rising focus on regenerative medicine and nanotechnology are resulting in nanorobots being increasingly used to perform complex tasks to reduce human error in the healthcare sector. Latest studies in DNA nanotechnology support large-scale utility of nanorobots in healthcare applications. Long-term returns derived from nanobots is encouraging market players to enter into long-term partnerships and to invest in further research and development in nanotechnology.
However, increasing complexities with miniaturization is hampering market revenue growth. High cost of manufacturing is also restraining growth of the market to some extent. Development and further reduction in size of nanorobotics is complex and requires highly skilled professionals. Usage of the technology also requires certain level of skills. Research is currently underway to make the technology more widely accessible in other fields and to increase its efficiency.
Some Key Highlights From the Report
In September 2018, a team of researchers in Hong Kong developed swarming nanorobots to assist surgeons inspired by schools of fish and flocks of birds. The unique approach helps in treatment of diseases and is used to navigate very tight space inside the human body for cancer therapies, drug delivery, and eye surgeries. The nanorobots can shrink, extend, merge, and split as they swarm, much like a flock of birds or school of fish.
Nanomanipulators segment accounted for largest revenue share in 2020 due to its capability of nanopositioning. Nanomanipulators are used to manipulate molecules and atoms and are among the first nanorobotic systems available commercially. Nanomanipulators can be used to evaluate characteristics of polymers, carbon nanotubes, disease pathogens, microchips, living cells, and metal particles.
The most promising application of nanorobotics is nanomedicine. Its application spans diverse areas such as vaccine development, drug delivery, wearable devices, diagnosis and imaging tools, and antibacterial, among others. Nanomedicine is expected to lead to development of more effective drugs, better devices, and early diagnosis of a wide range of diseases.
Europe accounted for a significant revenue share in 2020 due to increasing geriatric population in countries in the region and rising government expenditure to develop more advanced healthcare infrastructure and facilities. Moreover, Europe was among the first to recognize the potential of nanorobotics and its use in treatment of targeted diseases. High level of public and private investment in the region will also contribute to growth of the market.
Major players in the market include Bruker, Oxford Instruments, Toronto Nano Instrumentation, JEOL Ltd., Imina Technologies, Klocke Nanotechnik, Thermo-Fisher Scientific Inc., Ginkgo Bioworks, Agilent Technologies, and Park Systems.
Regional Outlook (Revenue, USD Billion; 2018–2028)
a. U.S. b. Canada c. Mexico
a. Germany b. U.K. c. France d. Italy e. Spain f. Sweden g. BENELUX h. Switzerland i. Rest of Europe
a. China b. India c. Japan d. South Korea e. Rest of APAC
a. Brazil b. Rest of LATAM
Middle East & Africa
a. Saudi Arabia b. UAE c. Israel d. Rest Of MEA
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