Acknowledging the spurting leap the market has taken lately and the further heights the market is racing to achieve up to, Market Research Future (MRFR) in its recently published study report asserts that the Global Nanobots Market will reach USD 100 BN by 2023 with a staggering double-digit CAGR over 21% during the forecast period (2017-2023). In 2016, the market size has reached USD 74 BN.
Nanobots are prevailing in healthcare and medicine sector, bringing some exciting possibilities which were earlier considered as part of SciFi. With the rise in robotic technology; Nanobots have become smarter than the current medical technology, allowing to heal at a far faster rate and perhaps increase the immunity too.
Nanobots have the potential to completely revolutionise health and medicine whether painless surgeries, optimised drug delivery, or even reconstruction of body parts. With each advancement, Nanobots market is expanding rapidly garnering more attention and market traction.
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Global Nanobots Market – Competitive Analysis
Well-established players incorporate collaboration, acquisition, partnership, product & technology launch, and expansion to gain competitive advantage in the already competitive Nanobots market and thus to maintain their position in the market. Substantial investments are being made by the key players of the market indicating the immense growth opportunities in the market. This as a result is likely to attract several entrants to the market, intensifying the competition in the market further.
Fervent players driving the market for the nanobots include Zymergen Inc. (U.S), Xidex Corp. (Texas), Synthace Limited (U.K), Advanced Diamond Technologies (U.S), Ginkgo Bioworks (U.S)., and Advanced Nano Products Co Limited (South Korea)
Industry/ Innovation/ Related News
November 3, 2018 – The US Researchers at Rice, Durham and North Carolina State universities demonstrated the progress on nanobots that can kill cancer cells. Researchers demonstrated in lab tests how rotors in single-molecule nanomachines can be activated by ultraviolet light to spin at 2 to 3 million rotations per second and open membranes in cells.
Currently, these researchers are experimenting on micro-organisms and small fish before moving on to rodents. Clinical trials in humans are due soon and it is hoped that the results may have the potential to save millions of lives.
Global Nanobots Market – Segmentations
MRFR has segmented the analysis into three key dynamics; for better understanding: –
By Type: Microbivore Nanorobots, Respirocyte Nanorobots, Clottocyte Nanorobots, Cellular Repair Nanorobots and other (Nano-swimmers and Bacteria Powered Robots).
By Application: Nano Medicine, Biomedical, and Mechanical among others.
By Regions: North America, Europe, APAC and Rest-of-the-World.
Global Nanobots Market – Regional Analysis
The North American region accounts for the largest market for Nanobots owing to the well-spread awareness towards the advantages of Nanobots in surgical care and ‘treatment of patients’. The Nanobots market in North America is expected to reach USD 73 BN growing at a CAGR of 12.2% throughout the forecasted period.
The European region is the second-largest market for Nanobots. Factors contributing to the market growth include the increasing emphasis on the development of advanced technology and the rising government support & funding for R&D activities. Simultaneously, the growing numbers of advancements in the medical science foster the market growth in the region.
The Asia Pacific region is rapidly emerging as a promising market for Nanobots owing to the implementation of this technology. Additional factors such as the increasing demand for quality devices in the healthcare and rapidly developing healthcare technology is projected to increase the use of advanced equipment, which, in turn, is expected to propel the growth in the APAC market.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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