The nanorobotics market for
magnetically guided type is expected to grow at the highest CAGR during the
forecast period. By type, the nanorobotics market has been segmented into
nanomanipulator, bio-nanorobotics, magnetically guided, and bacteria-based.
This is attributed to the ease of use of magnetically guided nanorobotics
systems as compared with other nanorobotic types. The market for
nanomanipulator is expected to account for the largest share of the overall
nanorobotics market in 2018. In nanorobotics, nanomanipulators are mainly used
to manipulate atoms and molecules and were among the first nanorobotic systems
to be commercially available.
The nanorobotics
market is expected to grow from USD 4.9 billion in 2018 to USD 8.3 billion
by 2023, at a CAGR of 11.1%. 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 are driving the growth of the nanorobotics market.
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By
application, the nanorobotics market has been segmented into nanomedicine,
biomedical, mechanical, and others, which include space and oil and gas.
Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics.
Nanomedicine is expected to account for the largest share of the overall
nanorobotics market, by application, in 2018.
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
mechanical applications is expected to grow at the highest CAGR during
2018–2023. Mechanical nanorobotics system, an advanced step of nanotechnology,
is flexible enough to be manipulated in various ways. Also, mechanical
nanorobots can be built on any type of nanorobotics systems, such as
bio-nanorobotics, magnetically guided, and bacteria-based.
By
region, the nanorobotics market has been
classified into the Americas, Europe, APAC, and RoW. The market in Europe is
expected to grow at the highest CAGR during the forecast period. The high growth of the market in this region can be
attributed to the increasing aging population and rising governmental healthcare
expenditure in Europe.
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Also, Europe was among the
earliest regions to recognize the potential of nanorobotics; therefore, a high
level of public and private funding contributes to the high growth of
nanorobotics in Europe. The market in Europe is closely followed by
APAC, in terms of CAGR, thereby making it grow at the second-highest rate in
the overall nanorobotics market, by region. The players
in all the regions are adopting strategies of product launches, acquisitions,
expansions, agreements, collaborations, and joint ventures to expand their
global presence and increase their share in the nanorobotics market.
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