The overall 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%.
Increasing government backing and investment in nanorobotics, increased developments in molecular robots, and a growing focus on nanotechnology and regenerative medicine are all driving the sector forward.
Microscopy's expanding application areas, as well as the integration of microscopy with spectroscopy, are likely to give competitors in the nanorobotics market with significant growth potential.
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Nanomanipulator type to hold largest share of nanorobotics market, by type, during forecast period
The first nanorobotics systems capable of nanopositioning are nanomanipulators. As robotics is involved in nanomanipulation for the creation of many nanomanipulation systems, nanomanipulators were first employed in physics and chemical sectors. These systems were found to have capabilities that were similar to those found in industrial manipulators.
Large level of commercialization in healthcare sector to drive market growth for nanomedicine in nanorobotics market
Nanorobotics is widely used in nanomedicine owning to its healthcare characteristics. Nanomedicine accounted for the largest share of the overall nanorobotics market, by application, in 2017. 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.
Nanorobotics market in Europe to grow at significant rate during forecast period
During the projected period, the nanorobotics market in Europe is expected to grow at the fastest rate.
The market's rapid expansion in this region might be attributed to Europe's ageing population and increased government healthcare spending. Furthermore, Europe was one of the first regions to identify the potential of nanorobotics; as a result, a high level of public and private investment contributes to Europe's rapid growth in nanorobotics.
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Key market players
The nanorobotics market is currently dominated by Bruker (US), JEOL (Japan), Thermo Fisher Scientific (US), Ginkgo Bioworks (US), Oxford Instruments (UK), EV Group (Austria), Imina Technologies (Switzerland), Toronto Nano Instrumentation (Canada), Klocke Nanotechnik (Germany).
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