CHICAGO, March 4, 2019 /PRNewswire/ -- According to the new market research report on the "Nanorobotics Market by Type (Nanomanipulator (Electron Microscope and Scanning Probe Microscope), Bio-Nanorobotics, Magnetically Guided, and Bacteria-Based), Application (Nanomedicine, Biomedical, and Mechanical), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the Nanorobotics Market is estimated to grow from USD 4.9 billion in 2018 to USD 8.3 billion by 2023, at a CAGR of 11.1%. The market is mainly driven by factors such as increasing government support and level of investment in nanorobotics, growing advancements in molecular robots, and rising focus on nanotechnology and regenerative medicine.
Market for magnetically guided nanorobotics to grow at highest CAGR during forecast period
The nanorobotics market for magnetically guided type is expected to grow at the highest CAGR during the forecast period. This is attributed to the ease of use of magnetically guided nanorobotics systems as compared with other nanorobotics types. Globally, several companies and research institutes have developed magnetic manipulation system that uses electromagnetic coils to wirelessly guide nanorobots in several nanorobotics applications. The market for bio-nanorobotics is expected to grow at the second-highest CAGR during the forecast period.
Nanomedicine application to hold largest share of nanorobotics market during forecast period
Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. Nanomedicine is expected to hold the largest share throughout the forecast period of the overall nanorobotics market, by application. The large share of this application attributes to the large level of commercialization in the healthcare sector for drug delivery, biomaterial, in vivo imaging, in vitro diagnostic, active implants, and drug therapy. The market for biomedical applications accounted for the second-largest share of the overall nanorobotics market, by application, in 2017.
Americas to remain major consumer of nanorobotics during forecast period
The Americas is expected to be a major consumer for nanorobotics solutions during the forecast period. The growth in this market is mainly driven by the favorable government scenario for nanorobotics research and focus on nanotechnology and regenerative medicine. Also, the large share of this region can also be attributed to the highly developed healthcare system and the presence of a large number of nanorobotics players.
The report profiles the most promising players in the market. The market is highly dynamic because of the presence of a significant number of big and small players operating in it. Key players in the market are 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).
Please Explore Relevant Reports:
Telepresence Robot Marketby Component (Head (Camera, Display, Speaker, and Microphone) and Body (Power Source and Sensor & Control system)), Type, Application (Education, Healthcare, Enterprise, and Homecare), and Geography - Global Forecast to 2023
Service Robotics Marketby Operating Environment (Aerial, Ground, Marine), Application (Professional, Personal), and Geography (North America, Europe, Asia-Pacific, and Row) - Global Forecast to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.