Innovations in nanorobotics technology, rapid increase in global geriatric population, and rising application in treatment of cardiovascular and orthopedic diseases are some key factors expected to drive market growth
According to Emergen Research, the global nanorobotics market size was USD 6.12 billion in 2020 and is expected to reach USD 14.03 billion in 2028 and register a revenue CAGR of 10.9% during the forecast period, 2021-2028.
Nanorobotics is a technology that allows for the creation of very small robots or devices. Nanorobotics encompasses a wide range of fields, including nanofabrication methods for nanoactuators, nanomotors, and nanosensors, to name a few. Nanorobots can be used as antibodies or antiviral agents in patients with weakened immune systems or disorders that do not respond to conventional treatments. Therefore, nanorobots are now being used in gene therapy, and cancer treatment. This has further boosted demand for nanorobotics and is expected to drive market revenue growth over the forecast period.
Further, growing interest in regenerative medicine, along with technical improvements, is another key factor expected to contribute to market revenue growth. In addition, increasing government and private investments in advanced technologies such as Artificial Intelligence (AI), edge computing, and deep learning, to support large scale utility of nanaorobotics is expected to drive market revenue growth over the forecast period.
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However, high cost of nanorobotics in healthcare industry, lack of skilled professionals and inappropriate treatment can hamper market growth to a certain extent over the forecast period. Further, less research activities and rising complexities with miniaturization are some other factors that can negatively impact revenue growth of the market.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Magnetically Guided Nanorobotics Segment Revenue to Expand at a Rapid CAGR:
Magnetically guided nanorobotics segment is expected to register a rapid revenue CAGR over the forecast period attributed to rising demand for delicate applications as this product provides high degree of maneuverability in complex procedures. Nanorobotics is employed to carry and deliver live cells to specific areas in the body, which in turn, has increased demand of product in the market.
Nanomedicine Segment to Register Significant Revenue Growth:
Nanomedicine segment is expected to register significant revenue growth over the forecast period due to its commercialization in the medical sector on large scale for drug delivery and therapy, in vitro diagnostics and imaging, biomaterial, and active implants. Further nanomedicine technology is used in various clinical trials for cardiovascular and musculoskeletal diseases.
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North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to rapid adoption of advanced technologies such as robotics in surgical procedures, rising number of clinical trials, advanced healthcare infrastructure, and rising investment to implement AI-based technologies for better efficiency and outcomes. In addition, rising demand of nanorobotics from Defense Advanced Research Projects Agency (DARPA) and National Science Foundation (NSF) in the countries in the region are further expected to drive market growth in the region.
Major Companies in the Market Include:
- Oxford Instruments
- Toronto Nano Instrumentation
- JEOL Ltd.
- Imina Technologies
- Klocke Nanotechnik
- Thermo-Fisher Scientific Inc.
- Ginkgo Bioworks
- Agilent Technologies
- Park Systems
For the purpose of this report, Emergen Research has segmented the global nanorobotics market based on type, application, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Electron Microscope (EM)
- Scanning Electron Microscope (SEM)
- Transmission Electron Microscope (TEM)
- Scanning Probe Microscope (SPM)
- Atomic Force Microscopes (AFM)
- Scanning Tunneling Microscope (STM)
- Electron Microscope (EM)
- Magnetically Guided
Application Outlook (Revenue, USD Billion; 2018–2028)
- Others (Space and Oil & Gas)
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Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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