Nanotechnology Market Rising Trends, Technology Research and Precise Outlook 2021-2030

The Global Nanotechnology Market size was valued at USD 1.15 billion in 2019 and is predicted to reach USD 3.31 billion by 2030, with a CAGR of 10.1% from 2020-2030.

Nanotechnology is the manipulation of matter at atomic level, with the dimension of nanoparticles ranging from 1-100 nanometres. Nanotechnology offers benefits such as compact design, higher efficiency, light weight, energy conservation, and many more.

Nanotechnology holds wide application in electronics & communication, telecommunication, industrial manufacturing & processing, defence & military sector, healthcare, engineering, as well as in all the branches that advanced science covers.

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Competitive Landscape

The nanotechnology market is highly competitive and consists of various market players. Some of the major market players include Applied Nanotech Holdings Inc., Altair Nanotechnologies Inc., Imina Technologies Sa, Thermofisher Scientific, Bruker Axs, eSpin Technologies, Inc., Kleindiek Nanotechnik Gmbh, Biosensor International, Nanoics Imaging Ltd., and Advanced Nano Products among others.

An upsurge in R&D activities and advancement in product technologies along with new product launches by the key players, are creating lucrative segments of opportunities in the global nanotechnology market.

For instance, in May 2020, researchers from the University of Maryland School of Medicine, presented a 'naked eye visual detection COVID-19 test,’ using advanced nanotechnology. The scientists presented an experimental diagnostic test for detection of novel corona virus, using sample assay containing plasmonic gold nanoparticles, to visually detect a color change if virus is present in the sample, within 10 minutes.

In May 2020, American Chemical Society (ACS) presented a research on ‘Nano Letters,’ a method to stabilize liposomes by embedding a stiff nano-bowl into their inner cavity. By this method the leakage of liposomes gets prevented and they can reach their targeted area for delivering chemotherapy drugs to tumor cells, in the patient’s body.

In June 2020, Chalmers University of Technology, presented a research on new technology to manufacture Ultra-thin camera lenses that are thousand times thinner than conventional camera lenses, by using artificial materials known as ‘metasurfaces.’ These metasurfaces are constituted by an assembly of interacting nanoparticles. The futuristic camera lenses designed using nanotechnology are not only cost-effective, but can also control light, hence holding wide applications in optical technology in coming future.

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Market Segmentations and Scope of the Study:

The global nanotechnology market share has been analyzed based on type, application, and geography.

Based on type, the nanotechnology market is segmented into nano devices and nano-sensors. The nano devices segment is sub segmented into Nanomechanical Test Instruments, Nanomanipulators, Nanoscale Infrared Spectrometers, and others. The nano-sensors segment is further divided into optical nano-sensors, biological nano-sensors, chemical nano-sensors, physical nano-sensors, and others. Based on application, the nanotechnology market is divided into electronics, chemical manufacturing, energy, aerospace & defense, healthcare, and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to account for the major market share in the global nanotechnology market throughout the forecast period owning to increased penetration of nanotechnology in medical imaging, higher adoption of wearables and smart electronic gadgets.

Asia Pacific is estimated to show rapid growth with developing market size in the global nanotechnology market over the forecast period, owing to upsurge in clinical research practices, increase in product launches by market players, and rising investments by private and public sector for development of cutting-edge nanotechnologies.

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