Nanorobotics Market is estimated to be valued at US$ 19.66 Billion in 2030

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the nanorobotics market. Coherent Market Insights’ analyst projected the nanorobotics market to be valued at US$ 19.66 Bn in 2030. It is expected to exhibit a CAGR of 15.6% over the forecast period 2023-2030.

Increasing investments in R&D activities by various governments and companies drives market growth. For instance, in 2021, the U.S. government invested over US$ 150 Mn in nanotechnology R&D.

Another significant factor driving the growth of this market is the rising demand for nanotechnology across various end-use industries such as healthcare, electronics, and energy. Nanorobots find wide applications in targeted drug delivery, molecular surgery, and circuit assembly which are raising the market expansion.

Key Market Trends include: Development of swarm robotics is one of the key trends gaining traction in the nan robotics market. Swarm robotics means collaboration between numerous robots that interact with each other and demonstrate behaviour typical of swarms. Developers are creating tiny modular robots able to assemble themselves, disassemble, and transform according to certain commands.

Development Of DNA Robots: Another trend that is being recently witnessed is the designing of DNA robots built for Viable molecular and RNA machines. Scientists are exploiting the unique structural and chemical properties of DNA in creating such molecular devices.

Nanorobotics Market Opportunities: The targeted drug delivery segment accounts for a substantial proportion of the nanorobotics industry. With the need to target ill areas in the human body, they can be described as tiny robots that can enhance the performance of drug delivery systems by taking drugs directly to the afflicted areas. They hold promise for the targeted drug delivery approach while minimizing collateral damage to healthy tissues and organs.

Medical Imaging is another growing field of nanotechnology enabled by nanorobots. This advanced imaging feature allows doctors to view the inside the body in real time with great clarity. For example, Nanobots with magnetic guidance are helpful in travelling through blood vessels and looking for abnormalities. Besides, it can also conduct on-site tissue sampling for a diagnosis and prostate biopsies.

Key Market Takeaways: The global nanorobotics market is anticipated to witness a CAGR of 15.6% during the forecast period 2023-2030. This is owing to growing applications in targeted drug delivery and advanced medical imaging.

On the basis of type, bio-nanorobots segment is expected to hold a dominant position. This is owing to their ability to precisely perform various bodily functions like collecting cell and tissue samples.

By application, targeted drug delivery segment is expected to hold the largest market share. This is due to the benefits offered by nanorobots in improving efficacy and accuracy of drug administration.

On the basis of end user, hospitals & clinics segment is expected to hold a dominant position over the forecast period. This is due to increasing nanotechnology adoption in medical facilities for targeted therapies and minimally invasive surgeries.

Regionally, North America is expected to hold a dominant position over the forecast period. This is due to rising healthcare expenditure and growing demand for advanced medical technologies.

Competitor Insights: Key players operating in the nanorobotics market include Thermo Fisher Scientific Inc., Ginkgo Bioworks, Bruker Corporation, JEOL Ltd., Zymergen Inc., Technologies, Oxford Instruments plc, Bio-Rad Laboratories, Inc., Nanosurf AG, Klocke Nanotechnik GmbH, Toronto Nano Instrumentation.

Recent Developments: In April 2023, Nanovery, a biotechnology research business, raised over £1.85 million (US$ 2.23) to improve prostate cancer testing accuracy and save more lives. Nanovery has created a nanorobot platform for detecting chronic illnesses like prostate cancer and liver disease. Its new nanorobot breakthroughs include technology that will be useful for detection in a variety of sectors. More information in full report