What is the global market size of Nanorobots Market?

The global Nanorobots market size is expected to reach USD 12.69 billion by 2030 and exhibit a CAGR of 7.32% in the forecast period (2023−2030)

Nanorobots Market Size, Share, Growth Analysis, By Type(Nanomanipulators, Bio-Nanorobotics, Magnetically Guided Nanobots/Nanorobots, and Others), By Type of Manufacturing(3D-Motion Nanomachines, Bacteria Powered Nanobots, Biochips, Nubots), By Product(Biodegradable, Non-Biodegradable), By Application(Medical Imaging, Information Storage, Drug Delivery, Health Sensors and Replicators), By End-user(Hospitals, Diagnostic Centers, Research Laboratories.), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2385 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 148 | Figures: 76

Nanorobots Market Regional Insights

North America is likely going to have a significant market share during the predicted period. One of the factors influencing the growth of the regional market is the Defense Advanced Research Projects Agency's (DARPA) and National Science Foundation's significant increase in funding for nanorobotics (NSF). The market in the region is expected to benefit from the growing use of nanotechnology and high health costs.

Additionally, due to increasing investments in pharmaceutical R&D and a desire for personalized/regenerative medications in the region, Asia Pacific is anticipated to have a higher CAGR throughout the projection period. For instance, Muse Nanobots, a company based in IT Madras, India, was established in August 2021 with the goal of eradicating the coronavirus within 5 minutes of contact. Additionally, the Asia Pacific region is projected to see a growth in nanotechnology due to an expanding patient pool and unmet medical demands. The rest of the world, however, is expected to grow less rapidly as public and private entities are less aware of and have less financing for studies based on nanotechnology.

Nanorobots Market Report Snapshots

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Nanorobots Market size was valued at USD 7.47 billion in 2022 and is poised to grow from USD 8.30 billion in 2023 to USD 12.69 billion by 2031, growing at a CAGR of 11.10% in the forecast period (2024-2031).

The nanobots/nanorobots market is fragmented, and the key players are focused on developing strategies to increase their footprints in the global nanobots firms. The strategies include agreements, expansions, acquisitions, newly launched products, joint ventures, and others. 'Oxford Instruments (UK)', 'Thermo Fisher Scientific (US)', 'Bruker Corporation (US)', 'JEOL Ltd (Japan)', 'Agilent Technologies, Inc. (US)', 'EV Group (EVG) (Germany)', 'Park Systems. (South Korea)', 'AIXTRON (Germany)', 'NT-MDT SI (US)', 'Cavendish Kinetics, Inc. (US)', 'Nanonics Imaging Ltd. (Israel)', 'Angstrom Advanced Inc. (US)', 'WITec Wissenschaftliche Instrumente und Technologie GmbH (Germany)', 'ZYMERGEN INC. (US)', 'Ginkgo Bioworks (US)', 'Synthace (UK)', 'Imina Technologies SA (Switzerland', 'Kleindiek Nano Technik GmbH (Germany)'

Increasing R&D activities by players in the industry with the goal of introducing novel nanobots to the market is the main factor driving the global market. Additionally, it is anticipated that the growing need for customized and regenerative medicines will boost the necessity for nanorobot experiments and, therefore, the market for the final product.

An emerging field, nanobots have enormous potential for use in drug delivery. As a biomedical application, it is highly sought to make medical compounds for the body's hard-to-reach regions. Although there are still improvements to be done in the field, previous findings suggest that they will be important in the fight against diseases that are challenging to treat. In addition, it is predicted the growing applications for microscopes and the combination of microscopy and spectroscopy may provide opportunities for the market to grow in the upcoming years. A self-assembly system made of DNA strands with the ability to produce a useful molecule is developed into DNA nanorobots, that use a track and walker system to travel to their destination. The concepts and designs for nanorobots used in drug delivery that has brought forward by researchers are all successful and promising. However, improvements are needed before they are utilized on a larger scale.

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Nanorobots Market Regional Insights

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