+44 330 818 7254Conference Proceeding - International Research Journal of Engineering Science, Technology and Innovation ( 2021) Volume 7, Issue 3
Received: 09-Jun-2021 Published: 21-Jun-2021, DOI: 10.14303/2315-5663.2022
Nanotechnology is a rapidly growing technology with potential applications in many sectors of global economy, namely healthcare, cosmetics, energy, and agriculture among others. The technology is revolutionizing every industry, while tremendously attracting worldwide attention. Owing to its wide range of uses, the global nanotechnology market is expected to grow at a CAGR of around 17% during the forecasted period of 2018-2024. Thus, there lies a great opportunity for industry participants to tap the fast growing market, which would garner huge revenue on the back of commercialization of the technology.
Nanotechnology is a rapidly growing technology with potential applications in many sectors of global economy, namely healthcare, cosmetics, energy, and agriculture among others. The technology is revolutionizing every industry, while tremendously attracting worldwide attention. Owing to its wide range of uses, the global nanotechnology market is expected to grow at a CAGR of around 17% during the forecasted period of 2018-2024. Thus, there lies a great opportunity for industry participants to tap the fast growing market, which would garner huge revenue on the back of commercialization of the technology.
Market trends and developments that clearly highlight the areas offering promising possibilities for industries to boost their growth. In 2017, the global nanotechnology market has shown impressive growth owing to factors, like increase in government and private sector funding for R&D, partnerships and strategic alliances between countries, and increased in demand for smaller and more powerful devices at affordable prices. At present, the healthcare industry is one of the largest sectors where nanotechnology has made major breakthrough with its application for the diagnosis and treatment of chronic diseases like cancer, heart ailments, etc. Further, significant developments are also being done in other sectors like electronics, agriculture, and energy.
In this report, the analysts have studied the current nanotechnology market on segment basis (by application, by component and by region), so as to provide an insight on the current market scenario as well as forecasts of the aforementioned segments till 2024. The report provides an in-depth analysis of all the major segments, taking into account the major developments taking place at global level in the respective segments that will further boost the growth of nanotechnology market.
