The global Nanorobotics Market is estimated to be valued at US$ 6.82 Bn in 2023 and is expected to exhibit a CAGR of 15.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nanorobotics includes robots or machines built at scales smaller than 1 micrometre. They are made up of nanoscale components that allow performing specific functions such as medical applications, assembly and manufacturing at molecular level. Nanorobots are highly beneficial for applications involving targeted drug delivery, chemical detection, optical, and mechanical devices.
Market key trends:
Sensors based nanorobots are gaining popularity in the healthcare sector owing to their ability to interact with human cells and tissues at the molecular level. These nanorobots are integrated with various types of sensors such as force, chemical, electromagnetic and pressure sensors to map internal body structures, detect diseases and deliver drugs precisely at the target site. They can be controlled externally using magnetic or acoustic signals to increase their functionality. With ongoing improvements in nanotechnology and sensor technology, it is expected that sensors based nanorobotic systems will witness prolific growth and revolutionize the healthcare industry over the coming years.
SWOT Analysis
Strength: Nanorobotics offer a wide range of applications in various industries like healthcare, biomedical, manufacturing etc. due to their small size and unique properties.
Weakness: High initial investment is required for research and development of nanorobotics. Commercialization of nanorobotics is still at a nascent stage.
Opportunity: Growing demand for nanorobotics from healthcare sector for targeted drug delivery and minimally invasive surgeries present significant growth opportunities. Rapid advancements in nanotechnology will further enhance nanorobotic capabilities.
Threats: Safety issues regarding interaction of nanorobots with human body and environment needs to be addressed. Competition from other new technologies can hamper the growth of nanorobotics market.
Key Takeaways
The Global Nanorobotics Market Size is expected to witness high growth, exhibiting a CAGR of 15.6% over the forecast period, due to increasing demand from healthcare and biomedical sectors.
Regional analysis:
North America holds the dominating share in the nanorobotics market due to heavy investments in R&D activities by government and private organizations in the US and Canada. Asia-Pacific is expected to grow at the fastest rate during the forecast period, with China and India emerging as major markets.
Key players operating in the nanorobotics market are Thermo Fisher Scientific Inc., Ginkgo Bioworks, Bruker Corporation, JEOL Ltd., Agilent Technologies, Oxford Instruments plc, Zymergen Inc., Bio-Rad Laboratories, Inc., Nanosurf AG, Klocke Nanotechnik GmbH, Toronto Nano Instrumentation, Park Systems Corp., WITec Wissenschaftliche Instrumente und Technologie GmbH, Nanonics Imaging Ltd., A.P.E. Research Srl.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
