Nanorobotics Market
The Nanorobotics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Nanorobotics Global Market Report 2024, The nanorobotics market size has grown rapidly in recent years. It will grow from $6.53 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to increased research and development in nanomedicine, growth in applications in drug delivery and nanosurgery, demand for precision and minimally invasive medical procedures, expansion of nanomanipulation in materials science and electronics, need for targeted therapy and diagnostics at the nanoscale.
The nanorobotics market size is expected to see rapid growth in the next few years. It will grow to $11.1 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to integration of ai and machine learning in nanorobot control systems, focus on swarm robotics for collaborative nanoscale tasks, expansion of nanorobotics in agriculture and precision farming, research and development in nanorobotics for space exploration, emphasis on ethical and regulatory frameworks for nanorobotics. Major trends in the forecast period include dna and molecular nanorobots, nanorobotics in nanomedicine and healthcare, teleoperation and remote control of nanorobots, nanorobots for environmental remediation, nanorobotics in space exploration.
The rising incidence of periodontal diseases is expected to propel the growth of the nanorobotics market. Periodontal diseases are the result of infections and inflammation of the gums and bones that will be surrounding and supporting the teeth. The growing interest in the dental applications of nanotechnology has led to the development of a new field called Nano dentistry. Dental nanorobots are being developed to destroy caries-causing or to repair tooth blemishes where decay sets in through computers to direct these tiny robots. For instance, according to the American Cancer Society, a US-based voluntary health organization, in 2022, about 54,000 new cases of the oral cavity or oropharyngeal cancer and about 11, 230 deaths from the oral cavity or oropharyngeal cancer registered in the United States. Therefore, the rising incidence of periodontal diseases is driving the growth of the nanorobotics market.
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The nanorobotics market covered in this report is segmented –
1) By Type: Nanomanipulator, Electron Microscope, Transmission Electron Microscope, Scanning Probe Microscope, Bio-Nanorobotics, Magnetically Guided, Bacteria-Based
2) By Operation Mode: Self-driven, Remote Controlled
3) By Application: Nanomedicine, Biomedical, Mechanical, Other Applications
Investments for research and development is a key trend gaining popularity in the nanorobotics market. Major companies operating in the nanorobotics market are focused on investing in research and development and strengthening their position in the market. For instance, In March 2021, Bionaut labs, a California-based biotech company focusing on developing nanorobots to deliver drugs for brain disease treatment, received $20 million in a funding round led by Silicon Valley venture capital giant Khosla Ventures and Santa Monica-based Upfront Ventures. The funds will then be used to guide the company through preclinical and clinical development of its nanorobot technology.
The nanorobotics market report table of contents includes:
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