3D Nano Technology

Versatile technology powers healthcare solutions

Nanomaterials play an important role in the field of medicine

As a versatile technology with widespread applications in a wide range of end-use sectors, nanotechnology is currently facing a mixed bag of challenges and opportunities as the Covid-19 pandemic continues to resurge and spread across the globe.

With the world fighting its biggest public health crisis in history, nanotechnology healthcare applications are storming into the spotlight led by the focus on nano intervention in terms of designing effective ways to identify, diagnose, treat and eliminate the spread of Covid-19 infections. Their role as nanocarriers has potential to design risk-free and effective immunization strategies. In the post Covid-19 period, use of nanotechnology solutions in the production of a multitude of devices and products will continue to grow, says a latest report on Global Nanotechnology Industry by Reportlinker.

Amid the Covid-19 crisis, the global market for nanotechnology estimated at $42.2 billion in the year 2020, is projected to reach a revised size of $70.7 billion by 2026, growing at a CAGR of 9.2 per cent over the analysis period.

Nanocomposites, one of the segments analysed in the report, is projected to record a 8.7 per cent CAGR and reach $35.4 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the nanomaterials segment is readjusted to a revised 10.1 per cent CAGR for the next 7-year period .

Electronics remains one of the fastest growing end-use markets for nanocomposites driving robust gains in the market. Semiconductors is also benefiting from the electrically conductive properties of polymer nanocomposites. Besides electronics and electrical, nanocomposites also serves several other end-use markets including building & construction, automotive, IT, energy, and packaging where they have several commercialised and potential applications. Nanomaterials play an important role in the field of medicine by providing solutions for prophylactics, diagnostics and treatment of various medical conditions.

The technology segment includes nano machines, nanomaterials and nano factories. Nanomaterials dominates the market share. The growth can be attributed to the varied applicability of nanomaterials in different fields like defence, agriculture, medicine, transportation, etc. The type segment includes nano products and nanosensors. Nano product further includes nano manipulators, nanomechanical test instruments, nanoscale infrared spectrometers and others. Nanosensors include optical nanosensor, biological nanosensor, physical nanosensor and others. Nanosensors holds the largest market share. It is projected to grow at a lucrative growth rate due to continuous technological advancements and the rise of artificial intelligence.

The end-user segments include electronics, chemical manufacturing, energy, aerospace & defence, healthcare and others. Among these, chemical manufacturing segment holds the largest market share. Nanotechnology is widely used for the formulation of compounds among industries. It helps to manufacture more durable and lighter materials which are better than conventional products.

The US market is estimated at $13.2 billion in 2021, while China is forecast to reach $5.1 billion by 2026.

Geographically, the nanotechnology market in the US was estimated at $13.2 billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of $5.1 billion by the year 2026 trailing a CAGR of 11.2 per cent over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1 per cent and 9.4 per cent respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.2 per cent CAGR.

 

Nanotools to reach $7.7bn

In the global Nanotools segment, USA, Canada, Japan, China and Europe will drive the 7.1 per cent CAGR estimated for this segment. These regional markets accounting for a combined market size of $4.1 billion in the year 2020 will reach a projected size of $6.6 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach $1 billion by the year 2026.

Key players of the nanotechnology market are Thermofisher Scientific, eSpin Technologies, Biosensor International, Nanoics Imaging, Applied Nanotech Holdings, Kleindiek Nanotechnik, Imina Technologies, Advanced Nano Products, Bruker Axs, and others. Recently, C-Bond Sytems got into a strategic partnership with renowned company Macoma Environmental Technologies for selling Nano photocatalytic coatings.