Nanorobotics Market size is expected to witness a commendable upsurge over 2022-2028, on account of the rapid advancement in nanotechnology and the subsequent introduction of nano-sized robots for use in drug delivery, among other applications. Likewise, the dramatic increase in the incidence of cancer will further augment the use of nanorobots in cancer treatment, as nano-sized robots can navigate through blood vessels to deliver drugs to tumor sites.
Nanorobotics refers to the technology of producing robots or machines at the nanoscale. These nanoscale robots can accurately manipulate and build objects on a molecular scale. Medical nanobots are widely used in a range of applications such as drug delivery, as the drug can be targeted to the precise locations via nanotechnology, thus making it more effective and reducing the occurrence of side effects.
Significant advancement in molecular robotics and the rising incidence of periodontal diseases among elderly people in the United States will foster global nanorobotics market trends through 2022-2028. Orthodontic nanorobots are capable of controlling periodontal tissues, permitting fast tooth fixing as well as vertical repositioning in a matter of hours. The rise in gum disease prevalence will thus stimulate the adoption of nanorobotics in dentistry. Furthermore, the incorporation of nanotechnology in the medical sector to help improve the diagnosis and treatment of diseases including diabetes will further generate growth opportunities for the industry over the forthcoming years.
Bio-nanorobotics will emerge as a prominent product type segment in the nanorobotics industry by 2028, driven by the advantages of biohybrid nanorobots over traditional artificial nanobots. Product benefits include biocompatibility, particularly with regards to components originating from minimalized immune cells, sperm, DNA, or other biological organisms.
Based on application, the nanomedicine segment is likely to record a high revenue by 2028, owing to the global burden of chronic conditions like diabetes, provided the deployment of nanomedicine-based drug delivery systems as a potential treatment for diabetes mellitus.
On the regional front, the North America nanorobotics market will amass considerable profits over 2022-2028. This can be credited to the increasing regulation of drugs, devices, and other medical products that may expand the scope of nanotechnology and nanomaterials in the U.S. Healthcare expenditure in the country has been increasing annually for almost 60 years. This factor, coupled with the increased funding in nanotechnology initiatives in the region, will also contribute to the rising popularity of nanorobots.
Some of the key players in the nanorobotics market include Novascan Technologies, Imina Technologies, Ginkgo Bioworks, Kliendiek Nanotechnik, Oxford Instrument Asylum Research, Thermo Fisher Scientific, Toronto Nano Instrumentation, EV Group, JEOL, Ltd., and Bruker Corporation, among others. Innovative product launches, business expansions, and acquisitions are some of the initiatives being undertaken by these companies to gain a competitive edge over rivals in the global market.
The ongoing coronavirus pandemic has posed significant challenges across the healthcare industry, including oncology care. The rate of new patient registration and surgical procedures of cancer patients declined during the outbreak. This impact of the pandemic on cancer screening and delayed hospital visits may have impacted the use of nanorobots in targeting of cancerous cells. However, the emergence of nanotechnology as a potential treatment for viral infections may aid industry recovery. This technological advancement has offered a big scope for nanobots for use in the diagnosis, control, treatment, and management of COVID-19 disease. Developments such as these are expected to contribute to the overall industry share.
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