Global Nanorobotics Market to Show Strong Growth by 2023: Overview, Detailed Analysis, Future Forecasts
[113 Pages Report] The overall nanorobotics market is expected to grow from USD 4.9 billion in 2018 to USD 8.3 billion by 2023, at a CAGR of 11.1%.
The growth of the nanorobotics market is driven by various factors, such as increasing government support and level of investment in nanorobotics, growing advancements in molecular robots, and rising focus on nanotechnology and regenerative medicine. Growth opportunities in emerging markets, increasing application areas of microscopes, and integration of microscopy with spectroscopy are expected to provide huge growth opportunities to players in the nanorobotics market.
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“Nanomanipulator type to hold largest share of nanorobotics market, by type, during forecast period”
Nanomanipulators are the first nanorobotics systems that are capable of nanopositioning. Nanomanipulators were first used in physics and chemistry fields as robotics are involved in the nanomanipulation for the development of several nanomanipulation systems. These systems were observed to present more capabilities similar to those in the industrial manipulators. In nanorobotics, nanomanipulators are mainly used to manipulate atoms and molecules and were among the first nanorobotic systems to be commercially available.
“Large level of commercialization in healthcare sector to drive market growth for nanomedicine in nanorobotics market”
Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. Nanomedicine accounted for the largest share of the overall nanorobotics market, by application, in 2017. The large share of this application attributes to the large level of commercialization in the healthcare sector for drug delivery, biomaterial, in vivo imaging, in vitro diagnostic, active implants, and drug therapy. The market for biomedical applications accounted for the second-largest share of the overall nanorobotics market, by application, in 2017.
“Nanorobotics market in Europe to grow at significant rate during forecast period”
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.
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Key market players
The nanorobotics market is currently dominated by Bruker (US), JEOL (Japan), Thermo Fisher Scientific (US), Ginkgo Bioworks (US), Oxford Instruments (UK), EV Group (Austria), Imina Technologies (Switzerland), Toronto Nano Instrumentation (Canada), Klocke Nanotechnik (Germany), and Kliendiek Nanotechnik (Germany). Other players operating in the nanorobotics market are Xidex (US), Synthace (Germany), Park Systems (South Korea), Smaract (Germany), Nanonics Imaging (Israel), Novascan Technologies (US), Angstrom Advanced (US), Hummingbird Scientific (US), NT-MDT Spectrum Instruments (SI) (Russia), and WITec (Germany).
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