Global Nanorobotics Market expected to reach $14.2 billion during the forecast period.
PUNE, MAHARASHTRA, INDIA, November 27, 2019 /EINPresswire.com/ — Nanorobotics Industry
Growing demand for miniaturization of devices coupled with increasing government support and level of investment in nanorobotics will further boost growth in the global nanorobotics market.
Nano Robotics is the technology of creating machines or robots close to the microscopic scale of a nanometer (10−9 meters). Nanorobotics refers to nanotechnology – an engineering discipline for designing and building nanorobots. These devices range from 0.1-10 micrometers and are made up of nanoscale or molecular components. Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. These nanobots carry a load with the drug, and they are capable of identifying specific categories of cancer cells among billions of healthy cells by using biomarkers. Therefore, with continuous technology advancements and increasing R&D expenditure is expected to fuel growth in the global nanorobotics market.
The report covers all the major trends and drivers playing a vital role in the growth of the Nanorobotics market. The global Nanorobotics market has been segmented based on geography, type, and application.
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The global Nanorobotics market growth is driven by an increase in government support and level of investment in nanorobotics, growing advancements in molecular robots, and an increasing focus on nanotechnology and regenerative medicine. Also, integration of microscopy with spectroscopy and growth opportunities in emerging markets such as China and India is expected to further drive the market over the forecast period (2019-2026).
Moreover, the increased demand for miniaturization coupled with high demand for automation across sectors plays a vital role in the growth of the global nanorobotics market. Developed countries such as the U.S., Japan, and the U.K. hold the majority share in this market. This is due to factors such as advancement in technology, availability of high-end infrastructure, and high capital disbursement into the development of new and developed nanorobotics systems. However, high manufacturing cost and initial capital expenditure might increase restraint market’s growth.
Global Nanorobotics Market By Type:
• Magnetically guided
In 2018, the Nanomanipulator held the majority share in the market.
Nanomanipulators are mainly used to manipulate the atoms and molecules and were among the first nanorobotic systems to be commercially available. Nanomanipulators presents more capabilities similar to those in industrial manipulators and is expected to be highly used for nanomedicine applications.
Global Nanorobotics Market By Application:
In 2018, Nanomedicine accounted for the largest share in the global market. The large share of this application attributes to the significant level of commercialization in the healthcare sector for drug delivery, biomaterial, in vivo imaging, in-vitro diagnostics, active implants, and drug therapy. The market for biomedical applications accounted for the second-largest share of the overall nanorobotics market, by application, in 2018. Nanotechnology has made a significant impact across other industries like energy, automotive, and agriculture, which is likely to drive demand for nanobots further.
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By geography, the global Nanorobotics Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, North America accounted for the majority share in the global Nanorobotics market. However, the nanorobotics market in Europe is expected to grow at the highest CAGR during the forecast period. The high growth of the market in this region can be attributed to the increasing aging population and rising governmental healthcare expenditure in Europe. Also, Europe was among the earliest regions to recognize the potential of nanorobotics; therefore, a high level of public and private funding contribute to the high growth of nanorobotics in Europe. The market in Europe is closely followed by APAC, in terms of CAGR and expected to grow at the second-highest rate in the overall nanorobotics market, by region.
In July 2018, Bruker (US) announced the acquisition of JPK Instruments (Germany), microscopy instrumentation for biomolecular and cellular imaging solution provider. The acquisition is expected to expand life science microscopy portfolio of Bruker with nanotechnology expertise of JPK Instruments.
With continuous technological advancements, increased R&D expenditure coupled with rising M&A activities, will result in intense competition in the market.
Global Nanorobotics Market is moderately concentrated with the presence of few global and regional players in the market. Intense rivalry among top players in the market has started fierce competition at various levels such as M&A strategies, new and innovative product launches, and spending on research and development.
For instance, In 2017, Oxford Instruments Asylum Research introduced its new SurfRider “HQ-Series” of high quality, budget-priced AFM probes, which are also available in a model suitable for nanomechanical image mode.
Some major players in the market are Bruker, JEOL, Thermo Fisher Scientific, Ginkgo Bioworks, and Oxford Instruments. Other prominent players in the market include EV Group, Imina Technologies, Toronto Nano Instrumentation, Klocke Nanotechnik, Kliendiek Nanotechnik, and among others.
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Source: EIN Presswire