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Market Dynamics:
Wide Industrial Applications (as mentioned in heading)- Nanorobotics find application across diverse industries like healthcare, manufacturing, semiconductor, defense and biotechnology. Growing demand from these end use sectors is anticipated to drive the growth of nanobotics market over forecast period.
The global nanobotics market is estimated to be valued at US$ 989.7 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Healthcare Revolution (one driver refered from heading)- Utilization of nanobots in healthcare for targeted drug delivery, disease diagnosis and minimally invasive surgeries promises to revolutionize the medical sector. This emerging trend is projected to boost the market of nanorobotics during 2023-2030.
Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/nanorobotics-market-6178
Segment Analysis
The global Nanorobotics market is dominated by nanomanipulator segment, which held around 35% share in 2023. Nanomanipulators are devices used to control and operate on nanoscale objects or nanomaterial such as nanoparticles, biomolecules and nanostructures. They find wide usage in biomedical applications such as direct drug delivery, sensing, imaging and cancer treatment. The nanomanipulator segment is expected to further increase its dominance during the forecast period owing to increasing adoption of these robots in healthcare sector for precise diagnostic and treatment procedures.
PEST Analysis
Political: favorable regulations supporting nanorobotics research especially in medical applications. Some countries invest heavily in nanorobotics to gain leadership in emerging technologies.
Economic: continuous growth of healthcare industry positively impacting nanorobotics market. Higher economic activities increasing disposable incomes also driving demand.
Social: rising elderly population and growing cases of chronic diseases driving demand for advanced medical treatments where nanorobotics are applicable. Increased health awareness favoring adoption of new diagnostic and treatment technologies.
Technological: continuous R&D improving nanorobotics design, efficiency and reducing costs. Miniaturization technologies help develop sophisticated yet affordable nanorobots with wider applications.
Key Takeaways
The global Nanorobotics market is expected to witness high growth at a CAGR of 4.5% during the forecast period of 2023 to 2030.
Regional analysis shows North America dominated the market in 2023 owing to presence of major players and technological advancement in the region. The Asia Pacific region is expected to witness fastest growth during the forecast period led by increasing healthcare investments and demand in emerging economies such as China and India.
North America dominated the global nanorobotics market in 2023 with a share of over 30% owing to presence of major players such as Bruker, Thermo Fisher Scientific, Ginkgo Bioworks,Oxford Instruments and established healthcare infrastructure in the US and Canada supporting nanorobotics research and development.
Key players
Key players operating in the nanorobotics market are Ipca Laboratories Ltd., Zydus Group, Merck KGaA, Pfizer Inc., GSK plc., Cipla Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Alvizia Health Care, Bayer AG, and F. Hoffmann-La Roche Ltd. Major players are focused on new product launches and strategic collaborations to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
