According to a new market research report published by Credence Research “Global Nanobots Market (Type (Microbivore Nanobots, Respirocyte Nanobots, Clottocyte Nanobots, Cellular Repair Nanobots), Application (Nanomedicine, Biomedical, and Mechanical)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall nanobots market worldwide is set to grow with a CAGR of more than 25% during the forecast period from 2019 to 2027, starting from US$80 Bn in 2018.
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The global nanobots market is mainly driven by rapidly growing field of nanotechnology and its applications in various industrial sectors. Multiple applications of nanotechnology in energy, electronic industry, telecommunications, and healthcare and wellness is driving the demand for byproducts developed with the help of this technology. Nanobots are now largely being used to perform multifaceted calculations, move, communicate, and work together, and repair or reproduce themselves to some extent. Furthermore, growing healthcare industry is providing unlimited opportunities for helping patients to get treated with safe, reliable technology and advanced healthcare. This drives the demand for nanobots in treatment of chronic diseases such as cancer and cardiovascular diseases.
Nanobots can scan each and every cell of the body to detect cancerous tendencies if any, and if a cancer is detected, nanobot can act and wipe out the cancer quickly. This can be done with the help of more vigorous and focused tactics than the human immune system is designed for. Adoption of nanotechnology among the specialists, surgeons, medical practitioners and other healthcare staff is expected to support the growth of Nanobots market.
However, high cost of development, stringent regulatory policies associated with development and utilization of nanobots, and restricted use of nanobots in integration with the medical devices are some factors that are likely to hinder the growth of this market during the forecast period.
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Based on application, nano medicine is expected to dominate the global nanobots market by holding around 35% of the overall market. Nanobots are widely used in nano medicine due to increasing healthcare applications of nanobots. Increasing innovations in the field of cancer treatment related to the specific target are largely contributing to the growth of nanobots market.
Based on the geography, North America dominates the nanobots market by holding largest market share of nearly 45% of the total revenue generated worldwide. The large market share of North America can be attributed to factors such as continuous advances and development of modern technology, growing research and development activities in the field of nanotechnology, growing public and private sector funding for research and development, and increasing need for cancer therapy.
North America is followed by Europe owing to its increasing aging population and rising governmental healthcare expenditure. However, Asia-Pacific is expected to witness highest growth during the forecast period. This high growth is mainly attributed to increasing investments in research and development by the major players, improvement in healthcare infrastructure and increasing patient base, and increasing research activities for developing effective cancer treatment. Japan dominates the APAC market however, emerging countries like India are expected to grow steadily as implementation of this technology requires large amount of financial investment by the healthcare organizations and also training for the staff.
Some of the major companies profiled in the report include Xidex Corp., Zymergen Inc., Synthace Limited, Bruker Corporation, JEOL, Ltd., Thermo Fisher Scientific, Oxford Instruments, Kleindiek Nanotechnik GmbH, Toronto Nano Instrumentation, Ginkgo Biowork, Advanced Diamond Technologies, and Advanced Nano Products Co Limited.
By Type Segment (2017–2027; US$ Bn)
- Microbivore Nanobots
- Respirocyte Nanobots
- Clottocyte Nanobots
- Cellular Repair Nanobots
By Application Segment (2017–2027; US$ Bn)
- Nano Medicine
By Geography Segment (2019–2027; US$ Bn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America
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