Nanorobotics Market: Overview
The market size for Nanorobotics was USD 7.3 billion in 2021, and it is projected to grow at a CAGR of 10.7 percent during the forecast period. Growing advances in molecular robots, government support and investment, and the focus on nanotechnology and regenerative medicine are some of the factors driving the market's growth. As emerging markets grow, microscope applications expand, and spectroscopy and microscopy are integrated, nanorobotics players will have huge growth opportunities. Significant advancements will influence global nanorobotics market trends in molecular robotics and the rising incidence of periodontal diseases among elderly individuals in the United States.
Human error is reduced by utilizing nanorobots in the healthcare industry. Several recent studies in DNA nanotechnology support the potential for the large-scale use of nanorobots in healthcare applications. Long-term nanobot returns encourage market players to invest in nanotechnology research and development. For instance, Bionaut Labs, which is developing nanorobots that deliver drugs to treat brain diseases, announced in March 2021 that it had received funding from Khosla Ventures and Upfrony Ventures. This fund will guide Bionaut Labs through its nanorobot technology's clinical and preclinical development. In addition, Drug delivery and disease monitoring are among the uses of nanorobotics, as well as improving the efficiency and effectiveness of healthcare. Besides being used for assembling and maintaining sophisticated systems, nanorobotics also has extensive applications in the medical sector.
In March 2018, Gatan (US), a wholly-owned subsidiary of Roper Technologies (US), was acquired by Thermo Fisher Scientific (US). Gatan provides electron microscopy solutions in the US, complementing Thermo Fisher Scientific's electron microscopy business. A key trend in the nanorobotics market is technological advancement. In order to strengthen their market position in nanorobotics, major companies are working to incorporate innovative technological advancements into their nanorobotics solutions. For instance, in August 2020, A new scanning electron microscope (SEM) was launched by JEOL Ltd., a Japanese manufacturer of electron microscopes and scientific instruments. It is equipped with a Schottky field emission electron gun in the lens. The technology involved in this equipment can observe and analyze miniature materials in a laboratory.
Nanorobotics Market: COVID-19 Impact
The healthcare industry, including oncology care, has faced significant challenges during the ongoing Coronavirus outbreak. New patient registrations and surgical procedures have declined for cancer patients. Likely, the pandemic's impact on cancer screenings and delayed hospital visits have affected nanorobots' ability to target cancerous cells. However, nanotechnology may aid the industry in recovering from viral infections. Using nanobots for COVID-19 diagnosis, control, treatment, and management has become possible due to this technological advancement. The overall industry share is expected to benefit from developments such as these. It is possible that the pandemic affected cancer screening and delayed hospital visits, which may have influenced the use of nanorobots in cancer cell targeting. On the other hand, nanotechnology might prove useful in treating viral infections, which could help the sector recover.
Nanorobotics Market: Drivers
Increased Application in Healthcare to Drive Market Growth
As a result of increasing attention paid to preventative medicine and technological advancements in nanotechnology, the market is expected to grow. Advance technologies and solutions such as machine learning (ML) and artificial intelligence (AI) have also been used to develop and adopt medical advice and equipment. Patients suffering from diseases or compromised immunity can benefit from using nanorobots by reducing the risk of human error in medical procedures and healthcare applications. Nanorobots have also proved useful in antiviral and antibody studies. Additionally, nanorobotics is used for cancer detection and treatment, gene therapy, and dentistry procedures as ancillary devices for chemical reactions and to monitor and control blood glucose levels. The rapid development and application of nanorobotics in various fields and industries are expected to open up further opportunities and significantly increase revenue growth for a market. Commercializing biomaterials, in vivo imaging, in vitro diagnostics, active implants, and drug therapy in the healthcare sector explains the large share of this application. Nanorobots are increasingly used in healthcare to perform complex tasks to reduce human error due to advances in molecular robots and a growing focus on regenerative medicine and nanotechnology. DNA nanotechnology studies support a large-scale application of nanorobots in healthcare. In addition to investing in further nanotechnology research and development, market players enter into long-term partnerships and generate long-term returns from nanobots.
Drug Delivery Applications are Driving Market Growth
A biomedical application for nanobots has great potential as an emerging field. Targeting difficult-to-reach body parts while delivering medicinal compounds is highly desirable. Even though there is still a lot of work to be done in this field, previous research suggests that it will be vital in combating diseases that are difficult to treat in the future. In general, however, most researchers find it challenging to ensure that their concepts will be successful at the nanoscale. Nanobots that can deliver drugs with precision have become increasingly popular in the last few years thanks to increased research into engineered nanobots. In December 2019, researchers from IIT Guwahati synthesized nanobots made from tea extracts, called ‘teabots,’ which can be used as biocompatible drug delivery agents.
Nanorobotics Market: Restraints
Miniaturization Increases Complexity to Hamper Market Growth
Despite this, market revenue growth is being hampered by the increasing complexity of miniaturization. In order to develop and further reduce the size of nanorobotics, highly skilled professionals are required. Nanorobotics also require a certain level of skill to be used. Researchers are working to increase the efficiency of the technology and make it more accessible to other fields. As a result, the growth of the nanorobot market in the targeted period will be further hampered by excise taxes and heavy custom duties applied to nanorobots in the medical field. However, in the near future, the commercialization of nanorobotics systems might further undermine the nanorobot market's growth.
Nanorobotics Market: Segment Overview
Nanomanipulators to Dominate Market due to their Nanopositioning Capability
In physics and chemistry, nanomanipulators were first used in nanopositioning nanorobotics to develop several nanomanipulators. Nanomanipulators are the first nanorobotics capable of nanopositioning. In nanorobotics, nanomanipulators were among the first commercial nanorobotic systems to manipulate atoms and molecules and had capabilities similar to those found in industrial manipulators. As the first commercially available nanorobotic system, nanomanipulators are used to manipulate molecules and atoms and have been used to evaluate the properties of polymers, carbon nanotubes, disease pathogens, microchips, living cells, and metal particles.
As it is used on a Large Scale for Drug Delivery, Nanomedicine Category Dominates Market
Nanomedicine accounted for a majority of the market for nanorobotics due to its healthcare characteristics. There is a large share of this application due to the commercialization of drugs, biomaterials, in vivo imaging, in vitro diagnostics, active implants, and drug therapy in the healthcare sector. As a result, Nanomedicine has been applied to many areas, including vaccine development, drug delivery, wearable devices, diagnosis and imaging tools, and antibacterial treatment, among others. As a result, drugs will become more effective, devices will become more reliable, and diseases will be diagnosed earlier. Nanomedicine technology is used in clinical trials for neurodegenerative, cardiovascular, inflammatory, and musculoskeletal diseases. Vaccine development, drug delivery, wearable devices, diagnosis and imaging tools, antibacterial, and other fields are all examples of nanomedicine applications. Going forward, nanomedicine is expected to aid in developing better drugs, better devices, and an earlier diagnosis of a wide range of diseases.
Nanorobotics Market: Regional Landscape
North America to Dominate Market due to Growing Regulatory Framework for Drugs, Devices and Other Medical Products
Over the forecast period, it is anticipated that the North American market will account for the largest revenue share. The growing regulatory framework for drugs, devices, and other medical products may result in a greater scope for nanotechnology and nanomaterials in the United States. Over the last 60 years, healthcare expenditure in the country has been increasing annually. Along with increased funding for nanotechnology initiatives in the region, nanorobots will also gain popularity. The significant increase in nanorobotics funding by the Defense Advanced Research Projects Agency (DARPA) and National Science Foundation (NSF) is one of the reasons for the region's growth. As nanotechnology adoption increases, healthcare expenditures are expected to increase in the region, creating a positive impact on the market Healthcare in the United States is one of the most expensive in the world.
The Europe market is anticipated to experience the fastest growth throughout the forecast period because Europe has an increasingly aging population and a growing governmental healthcare expenditure, contributing to this region's high market growth. Furthermore, Europe recognized the potential of nanorobotics at an early stage; therefore, a high level of public and private funding has contributed to the rapid growth of nanorobotics in Europe.
Global Nanorobotics Market: Competitive Landscape
In March 2018, JEOL (Japan) launched the InTouchScope SEM JSM-IT200 series, which is available in four configurations. JSM-IT200BU is simple to configure, JSM-IT200LV is equipped with low vacuum capability, JSM-IT200A is equipped with EDS, and JSM-IT200LA is equipped with both low vacuum and EDS capabilities. Moreover, in March 2017, In a new SurfRider "HQ-Series" of high-quality, budget-priced AFM probes, Oxford Instruments (UK) Asylum Research also offered a model suitable for nanomechanical imaging.
Few of the players in the nanorobotics market include Ginkgo Bioworks (US), Imina Technologies (Switzerland), Thermo Fisher Scientific (US), Klocke Nanotechnik (Germany), Oxford Instruments (UK), Kliendiek Nanotechnik (Germany), Bruker (US), JEOL (Japan), Toronto Nano Instrumentation (Canada), EV Group (Austria), Xidex (US), Synthace (Germany), Park Systems (South Korea), Smaract (Germany), Nanonics Imaging (Israel), Novascan Technologies (US), Angstrom Advanced (US), Hummingbird Scientific (US), NT-MDT Spectrum Instruments (SI) (Russia), and WITec (Germany).
Global Nanorobotics Market is Segmented as Below:
Key Elements Included In The Study: Global Nanorobotics Market
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