Press release
Nanotechnology Market Size Share Growth and Trends Report 2024-2031
Market Overview :Nanotechnology is a field of applied science that control matter at the molecular level within a scale smaller than 1 micrometre and it varies between 1 to 100 nanometers. Nanomaterials have remarkable chemical and physical properties available in small size and a high surface-to-volume ratio. Nanotechnology is the combination of nanoscale science, engineering and advanced technology which involves measuring, imaging, modelling and manipulating matter at the molecular level.
Nano Materials possesses unique and versatile mechanical and physicochemical properties hence can be used in different fields, such as automotive, life science, electronics, healthcare, chemical engineering and among others.
Market Trends :
Rising investment for the development of nanotechnology-based products
The market is driven by the rising demand for nanotechnology in medical application & imaging and rising investment for the development of nanotechnology-based products have propelled the demand. As per the European Commission estimation, the nanotechnology development sector exceeds US$ 1 trillion and is growing investment at a rapid pace around the globe.
The EU commission invested approximately US$ 67 billion in nanotechnology-related research between 2000 to 2015. Further increase in nanotechnology-based research and development attracted huge investment in nanotechnology. For instance, National Nanotechnology Initiative (NNI) has received around US$ 27 billion for the extensive research and development of nanotechnology in 2019.
Further Massachusetts Institute of Technology (MIT) has made an investment of around US$ 350 million in 2018 for the state-of-the-art nanoscale research centre named "MIT.nano. Also, Saudi Aramco Energy Ventures (SAEV) has invested around US$ 10 million in NanoMech, a leading company in nanomanufacturing in 2016.
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Market Segmentation :
The global nanotechnology market is segmented based on product, application and region.Growing demand for fluorescent nanosensors for in-vivo monitoring of biomarkers in clinical development strengthening its market size In terms of product, the global nanotechnology market is bifurcated into Nanosensors, Nanodevices, Nanocomposites, Nanomaterials, Nanotools and others. Further Nanosensors are divided into optical nanosensors and further optical nanosensors are classified into chemical nanosensors, physical nanosensors, biosensors and others. Among these, nanosensors has the highest market share in 2019 this is primarily due to their properties such as fewer moving parts, higher efficiency and noise-free operations. This propels the demand for automotive, electronics devices with the advent of the nanotechnology segment.
Geographical Share :
North America region holds the largest market share global Nanotechnology market
By region, the global nanotechnology market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, North America is the dominant region for the global nanotechnology market and is expected to grow at the highest CAGR during the forecasted period due to the presence of advanced technology and growing funding for the development of nanoparticles based products by government initiatives followed by North America region. In the NorthAmerica region, the United States has accounted for approximately $6.6 billion in funding and globally public investments in nanotechnology increasing approximately $10 billion per year.
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Competitive Landscape
The global nanotechnology market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation and opportunities intensify the market competition. Nanoseedz, 3DIcon, Agar Scientific, Leadernano, Ancon, Advanced Nano Products Co., Ltd., AnyGen, Nanoshel, Curiox Biosystems, Omniyo, Anosys, 10x Technology Inc, QD Vision, 3rdTech Inc, Arkema, 10Angstroms, 10x MicroStructures and 3M are the leading market players with significant market share.
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