Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global nanotechnology market size was valued at USD 69.15 billion in 2022 and is projected to reach USD 248.56 billion by 2030, exhibiting a CAGR of 17.8% over the forecast period. Fortune Business Insights presents this information in their latest report titled "Global Nanotechnology Market Forecast, 2023-2030."
The market surge is driven by the growing adoption of nanotechnologies in the aerospace sector. The product deployment is mainly driven by the fast operating speed, high strength, and the lightweight properties of nanomaterials.
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Key Industry Development:
May 2023 – Thermo Fisher inked a MoU with the National Research and Innovation Agency of India to strengthen the country’s national research and innovation infrastructure. The deal would strengthen the collaboration between the two organizations, creating opportunities for direct engagements.
Key Takeaways
- Nanotechnology market size in North America was USD 23.37 billion in 2022
- Increasing Deployment in Cell Repair to Drive Product Application in Healthcare Sector
- Rise in Market Share Driven by Rapid Healthcare Advancements
- Nanodevices Segment Accounts for Key Share Impelled by Soaring Product Adoption in Medical Applications
- Healthcare Segment Held Major Share Driven by Increasing Product Deployment in Cell Repair and Nano Diagnostics
Discover the Leading Players Featured in the Report:
“Companies leading the global nanotechnology market are Imina Technologies SA (Switzerland), NANONICS IMAGING Ltd. (U.S.), Altair Nanotechnologies Inc. (U.S.), Bruker Corporation (U.S.), Kleindiek Nanotechnik GmbH (Germany), eSpin Technologies, Inc. (U.S.), Advanced Nano Products Co., Ltd. (South Korea), Applied Nanotech, Inc. (U.S.), Biosensors International Group, Ltd. (Singapore), Thermo Fisher Scientific Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 17.8% |
| 2030 Value Projection | USD 248.56 Billion |
| Base Year | 2022 |
| Nanotechnology Market Size in 2022 | USD 69.15 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Type, Industry and Geography |
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Drivers and Restraints:
Surge in Market Share Due to Increasing Nanotechnology Adoption in Medical Diagnosis
The global nanotechnology market growth is being driven by the soaring product adoption in the diagnosis, screening, and treatment of several diseases, including cancer. The technology plays a significant role in the detection of cancer biomarkers and the development of several cancer drugs.
However, the industry expansion could be hampered by the high cost associated with nanomaterials and the production of nanodrugs.
Segmentation
By Type
- Nanodevices
- Nanosenors
By Industry
- Electronics
- Healthcare
- Manufacturing
- Energy & Power
- Automotive
- Aerospace & Defense
- Food & Beverages
- Others (Agriculture)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Lead Driven by Surging Adoption of Advanced Healthcare Infrastructure
North America nanotechnology market share accounts for a key position in the market and is poised to exhibit substantial expansion over the study period. The rise is on account of the escalating adoption of technologically advanced healthcare infrastructure. Canada and the U.S. has recorded heavy investments in the areas of research, development, and commercialization.
he Asia Pacific market is anticipated to record notable expansion over the estimated period. The surge is driven by an escalation in government funding focused on R&D.
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Competitive Landscape:
Leading Companies Develop and Launch New Products to Gain Competitive Edge
Major industry players undertake research activities for the development and launch of new products. These initiatives are being undertaken to strengthen their industry footing. Other strategies deployed include merger agreements, partnerships, acquisitions, and rising participation in trade conferences.
FAQs
How big is the nanotechnology market?
The global nanotechnology market size was USD 69.15 billion in 2022. It is expected to reach USD 248.56 billion by 2030.
How fast is the nanotechnology market growing?
The global nanotechnology market will exhibit a CAGR of 17.8% during the forecast period, 2023-2030.
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