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Nanotechnology Market Global Trends, Market Share, Industry Size, Growth, Opportunities
Factors like technological advancements, private sector funding for research and development and increasing government support, strategic alliances between countries and growing demand for device miniaturization are projected to drive the global nanotechnology market growth. Nanotechnology serves as a beneficial and revolutionary technology across various industrial domains such as transportation, agriculture, communication, materials & manufacturing, medicine energy, households and consumer products.
Emerging applications and use cases are projected to be one of the key factors responsible for the growth of the nanotechnology market size.
Nonetheless, issues such as concerns relating to nanotechnology commercialization and safety, environmental and health risks are expected to impede market growth.
Medical Diagnostics Segment to Experience a Surge in the Adoption of Nanotechnology Over the Forecast Period
Nanotechnology-based diagnostic techniques that are currently under development may provide two major benefits like instant treatment facilities and detection of disease at an earlier stage. Different innovations are being carried out in the field of medical diagnosis to make it more efficient. For example, an underdeveloped method for early diagnosis of brain cancer uses nuclear magnetic resonance (NMR) and magnetic nanoparticles technology. The magnetic nanoparticles are then attached to bloodstream particles called microvesicles, which originate in brain cancer cells. NMR is then used to detect these microvesicle or magnetic nanoparticle clusters thus allowing early diagnosis Additionally, gold nanoparticles and carbon nanotubes are being used in a protein-detecting sensor indicative of oral cancer. Tests have shown this sensor to be accurate in detecting oral cancer and providing results within an hour. Therefore, all these factors majorly contribute toward the surge in adoption of the nanotechnology industry in medical diagnosis and act as an important driver in the nanotechnology market.
Nanotech devices are expected to work under extreme weather conditions such as radiation, high vacuum, electromagnetic noise and high temperature. In the field of nanotech devices, the devices are required to maintain strict accuracy specifications for force displacement and response times. These requirements present additional challenges in the elimination of or compensation for cross-sensitivities. Many devices lose their reliability and precision when exposed to harsh environments. It is important that advanced nanosensors and other devices maintain maximum independence such that the devices can operate autonomously with low maintenance. The next-gen nanotechnology will be deployed in inaccessible, remote and harsh environments that present multiple challenges to sensor materials, device functionality, design and packaging. All these aspects of integrated systems and sensors require a multidisciplinary approach in order to overcome these challenges. Thus, problems pertaining to the deployment of nanodevices across various applications, such as device design, materials science, circuitry & systems, nanofabrication technology measurement strategy and packaging under extreme weather conditions impede the market growth globally.
Key market players include ALTAIRNANO, Applied nanotechsa, Advanced Nano Products, Brucker Corp., Biosensors International Inc., eSpin Technology, Imina Technology, Kleindiek Nanotechnik GmbH, Nanonics Imaging Ltd., Thermofisher Scientific Inc.
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Global Nanotechnology Market Segmentation:
· Nano Sensors
o Optical Nano Sensors
o Chemical Nano Sensors
o Physical Nano Sensors
· Nano Devices
o Nanomechanical Test Instruments
o Nanoscale Infrared Spectrometers
· Chemical Manufacturing
· Aerospace & Defense
· North America
· Asia Pacific
· Latin America
· Middle East & Africa
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
· To provide with an exhaustive analysis on the global nanotechnology market by type, by application and by region
· To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
· To evaluate and forecast micro-markets and the overall market
· To predict the market size, in key regions (along with countries)— North America, Asia Pacific, Europe, Latin America and Middle East & Africa
· To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
· Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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