LONDON, Feb. 10, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the nanomaterials market, the increase in the usage of nanomaterials in the healthcare industry across the globe is contributing to the growth of the nanomaterials market. Nanomaterials are employed in the healthcare industry to target abnormalities in individual cells and even sub-cells and to boost the action of vaccinations and medicines by easily accessing the body. Hence, the demand for nanomaterials is rising with the increase in the application of nanomaterials in healthcare.
For instance, according to the Press Trust of India (PTI), an India-based press company report published in 2023, worldwide, there are around 400 major nanotech companies, of which half of them are nanomedicine related. In addition, out of the total 30 to 40 major nanotech companies in India, half are related to healthcare. Therefore, the growing presence and usage of nanomaterials in the healthcare industry is expected to fuel the growth of the nanomaterials market over the forthcoming years.
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The global nanomaterials market size is expected to grow from $10.87 billion in 2023 to $12.49 billion in 2023 at a compound annual growth rate (CAGR) of 14.8%. The change in the nanomaterials market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $21.18 billion in 2026 at a CAGR of 14.1%.
Product innovations are shaping the nanomaterials market. Major companies operating in the nanomaterials sector are focused on new product innovations to meet customers’ demands and increase their market share. For instance, in 2020, Carnegie Mellon University launched a biosensing platform based on advanced nanomaterials. This biosensing platform identifies SARS-CoV-2 antibodies in a few seconds, a virus responsible for the COVID-19 pandemic. Not only testing, but also the platform calculates the patient’s immunological response to the new vaccines. The biosensing platform based on advanced nanomaterials can also be used for the detection of other infectious diseases.
The nanomaterials global market segments are categorized in this report by material type into carbon-based nanomaterials, metal and non-metal oxides, metal-based nanomaterials, dendrimers nanomaterials, nano clay, nanocellulose, others; by structure type into non-polymer organic nanomaterials, polymeric nanomaterials; by end user into paint and coatings, packaging, construction, electronics and consumer goods, others.
TBRC’s nanomaterials industry forecast report identifies the major players in the market as BASF SE, Bayer AG, Chasm Technologies Ltd., Cnano Technology, DuPont Air Products Nanomaterials LLC, Elmarco Ltd., Finetex ENE, Glonatech SA, Kuraray, Nanocyl SA, NanoViricides Inc., Sumitomo Corporation, Showa Denko, Zyvex Technologies, US Research Nanomaterials Inc., Nanocomposix Inc., Frontier Carbon Corporation, Nanoshel LLC, SkySpring Nanomaterials Inc., Cytodiagnostics Inc., Strem Chemicals Inc., and American Elements.
North America was the largest region in the nanomaterials market in 2020. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nanomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Nanomaterials Market Global Report 2020-30: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide nanomaterials market overviews, nanomaterials market analyze and forecast market size and growth for the whole market, nanomaterials market segments and geographies, nanomaterials market trends, nanomaterials market drivers, nanomaterials market restraints, nanomaterials market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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