Robotics have come a long way in the development of nanobots which have a vast scope of potential across various fields. The Global Nanobot Market is in its nascent stages, and Market Research Future (MRFR) has employed exhaustive research methodologies to reveal that the global nanobot market is set to grow at an astounding CAGR of 21% during the forecast period of 2017 to 2023. The swift advancement of nanobots is expected to increase market growth which was recorded as USD 74 Bn in 2016 to surpass the USD 100 Bn mark by the end of 2023.
Increasing application for nanobots in the healthcare and their incredible ability to drastically cut down on human errors to offer precision is one of the key drivers of market growth. The growing demand for highly advanced, reliable medical technology is expected to impact the demand for nanobots positively. Although at present, there is a lack in skilled professionals with understanding on use of nanobots, the growing awareness is expected to favor the market.
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Growing demand and popularity of nanomedicine and the abundant potential this field of medicine offers is expected to facilitate exponential growth of the market. Cost of training medical professionals to use this technology may restrain the market, but its ability to minimize morbidity rates and offer effective treatment will likely offer market expansion opportunities. R&D investments in nanobots are rising and are expected to provide the market with ample opportunity for growth.
Global Nanobots Market – Key Players
Some of the key players in this market are:
- Xidex Corp. (Texas)
- Zymergen Inc. (U.S)
- Synthace Limited (U.K)
- Ginkgo Bioworks (U.S)
- Advanced Diamond Technologies (U.S)
- Advanced Nano Products Co Limited (South Korea)
Massachusetts Institute of Technology (MIT) researchers have developed a nanobot aerosol spray which carry the potential to perform various tasks included diagnosis of health problems.
Xidex Corp. is a Texas based company manufacturing nanodevices. Nanobot is a nano manipulator by Xidex mainly applied in scanning electron microscope. Xidex products nanomanipulator solutions to nonscientists. Naonobot is used for sample preparation.
Zymergen Inc. is a U.S based company providing solutions in biology, automation and computation. Zymergen involves integration of biology with machine learning. Automation involves manufacturing of robots to test thousands of strains of bacteria. Computation involves the use of integrated data collection system in which the instruments and sensors feed data into the software management system directly from the labs.
Synthace Limited has a product named Antha which is an operating system for computing in labs. The technology is used to run biological experimentation and manufacturing processes reprogram as well as reprogram robots in very less span of time. Synthace was awarded as Technology Pioneer by World Economic Forum in June 2016.
Global Nanobots Market – Segmentation
The Global Nanobots Market, in MRFRs report is segmented on the basis of application, type, and region. Based on application, the market is segmented to include mechanical, biomedical, nanomedicine, and other applications. Nanomedicine is one of the most common applications of nanobots and the segment accounts for close to 60% of the market share.
By type, the market is divided into cellular repair nanorobots, microbivore nanorobots, clottocyte nanorobots, respirocyte nanorobots, bacteria powered robots, and nanoswimmers.
Global division of the market has been done and the global nanobots market is represented by North America, Europe, Asia-Pacific, and the Middle East & Africa.
Global Nanobots Market – Regional Analysis
Led by the US, North America leads the global market with the most significant share of the market. Valued at USD 55 Bn in 2016, the market is anticipated to reach an estimated evaluation of USD 73 Bn by 2023. The presence of several leading market players who are facilitating market expansion opportunities and the growing awareness with regards to nanomedicine and nano bots is expected to encourage growth of the market at a CAGR of 12.2% during the assessment period.
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Meanwhile, Asia-Pacific is the fastest growing market which is expected to diplay the highest CAGR during the review period. India in particular is expected to grow steadily due to the implementation of the technology and the increased financial investments required in the healthcare sector toward advanced medical technology.
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