The 2023 report on the “Nanorobotics Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Nanorobotics Market is valued approximately USD 5.53 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.97 % over the forecast period 2020-2027. Nanorobotics is a technology that develops robots and machines which have components to the scale of a nanometer. Nanorobotics consist of engineering disciplines of planning, designing and building nanorobots majorly from molecular components.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The new field has attractive applications in medicine sector focused on drug delivery using nanoscale molecular machines. Also, the nanorobots can identify specific categories of cancer cells using biomarkers. The bots than disentangle on contact with target cells and release the drug killing the cancer cells. the growing use in medical science and increasing prevalence of cancer drives the market growth.
In January 2020, researchers at KING ABDULLAH UNIVERSITY OF SCIENCE & TECHNOLOGY developed drug coated iron nanowires that can be guided to the site of tumor using external magnetic field and then a three step cancer killing mechanism can be activated to cure cancer. Also, in February 2020, Researchers form the ITMO University announced their concept of treating cancer by nanorobot made of DNA fragments which can not only destroy the cancer cells but also locate them in the body. Further, rising investments in the field for developing nanobots to cure diseases augments the market growth.
Also, increased demand for miniaturization coupled with high demand for automation across sectors has driven the overall nanorobotics systems market. Moreover, growing health related issues, higher acceptance of automated medical devices, and advancements in features of nanorobotics systems will lead to higher growth of the global market. However, high manufacturing costs as well as complexities in miniaturization impedes the growth of the market over the forecast period of 2020-2027. Although, emergence of mind-controlled nanorobots presents a lucrative opportunity for the market.
The regional analysis of global Nanorobotics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing investment and support from public and private organizations and high expenditure on healthcare in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing advancement in medical industry would create lucrative growth prospects for the Nanorobotics market across Asia-Pacific region.
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Major market player included in this report are:
Bruker
JEOL
Thermo Fisher Scientific
Ginkgo Bioworks
Oxford Instruments
EV Group
Imina Technologies
Toronto Nano Instrumentation
Klocke Nanotechnik
Kliendiek Nanotechnik
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Nanomanipulator
Electron Microscope
Scanning Probe Microscope
Bio-Nanorobotics
Magnetically Guided
Bacteria-Based
By Application:
Nanomedicine
Biomedical
Mechanical
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Dynamics:
- Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
- Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
- Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
- Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
- Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
- Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
- Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
- Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
- Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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