Nanorobotics Market - Growth, Trends, Forecasts (2020 - 2025)
The nanorobotics market was valued at USD XX million in 2019, and it is expected to be worth USD XX million by 2025, registering a CAGR of XX during 20202025. Nanorobotics refers to nanotechnology that involves engineering, designing, and building of nanorobots. Nanorobots are devices ranging in size from 1 to 100 nanometers that are composed of nanoscale or molecular components.
Nanobots are injected into the patient to perform diagnosis or treatment on a cellular level, and the diagnosis or treatments involve the nanoscale, molecular, or atomic level. Treatments with nanorobots may include alterations in the structure and composition at the molecular or submolecular level. The various areas of applications of nanorobots leverage the unique properties of materials and devices in the nanoscale dimensions.
In 2019, dozens of startups looked to get in on this emerging new field. One of those is Pumeram, which is based in Prague and has already raised EUR 11.5 million to develop rocket, spheroid, and even screwshaped nanobots that will help treat diseases ranging from skin and oral ailments to fertility problems. The startup’s cancerkilling nanobots have already been successfully tested on mice.
The tech giant, Google, partnered with the big pharma giant GlaxoSmithKline to form its nanobot powerhouse shows the significance of nanorobotics in the future. Eligo, a startup founded in France, raised USD 27.4 million till mid2019 to put proteinbased nanobots in the bowels and is now focused on moving different clinical programs into humans.
In 2020, researchers around the world are developing skilled nanobots that can perform a wide range of surgeries on humans. They will be programmed and guided with external magnetic fields. Nanobots can perform eye surgeries with needles, clear blocked arteries by drilling a corkscrew through arterial blockages and collect biopsies.
Since the coronavirus outbreak began in late 2019, researchers are racing to learn more about SARSCoV2, which is a strain from a family of viruses known as coronavirus for their crownlike shape. Various researchers are proposing the idea of using nanoparticles that are a similar size to the virus behind COVID19 that could attach to SARSCoV2 viruses, disrupting their structure with a combination of infrared light treatment and this expected to boost the market if the practice succeeds.
Key Market Trends
Drug Delivery Application is Expected to Witness Significant Growth Rate
Nanobots are an emerging field, showing great potential as a form of drug delivery. The ability to target difficulttoreach areas of the body while carrying medicinal compounds is highly sought after as a biomedical application. Although there are still advances to be made in the field, previous research indicates that they will be vital in combatting hardtotreat diseases. A significant challenge for most researchers, however, is ensuring that their concepts will be successful on the nanoscale.
In the last few years, research into engineered nanobots that can navigate through the body to deliver drugs with precision has intensified. In December 2019, Researchers from IIT Guwahati had come up with nanobots synthesized from tea extracts, named ‘teabots,’ which can serve as biocompatible drugdelivery agents.
In September 2019, Michigan State University scientists invented a new way to monitor chemotherapy concentrations, where they created a process based around magnetic particle imaging that employs superparamagnetic nanoparticles as the contrast agent and the sole signal source to control drug release in the body at the site of the tumor. Nanobots are used to target hardertoreach portions of cancerous tumors, which will be a potential increase in the chances of successful chemotherapy as well.
In 2019, DNA nanorobots were developed, which consists of a track and a walker system to reach the target location and contained a selfassembly system consisting of DNA strands with the ability to produce a functional molecule. All the concepts and designs proposed by the researchers for nanorobots in the drug delivery application are successful and promising. Yet, improvements are needed before being deployed on a larger scale.
North America is Expected to Hold a Major Share
North America is expected to hold a major market share over the forecast period. One of the driving factors for the region’s growth is the considerable growth in the backing of nanorobotics from the Defense Advanced Research Projects Agency (DARPA) and the National Science Foundation (NSF). The growth of adoption in nanotechnology, coupled with high expenditure on healthcare, is expected to create a positive impact on the market in the region.
The United States has one of the highest costs of healthcare in the world. In 2018, the United States spent about USD 3.6 trillion on healthcare, which averages to about USD 11,000 per person. The Centers for Medicare and Medicaid Services (CMS) project that by 2028, such costs will climb to USD 6.2 trillion, or about USD 18,000 per person, and will represent about 20 percent of GDP. As most of the applications of nanorobotics are related to health care, the region is expected to witness the increase in the adoption of the technology in such related applications.
However, the most direct impact the coronavirus pandemic will have on U.S. health care spending is through testing and treatment of COVID19. The University of Washington Institute for Health Metrics and Evaluation (IHME) model suggests the outbreak is reaching its peak in the U.S. and is bound to put a severe strain on the government in terms of spending to tackle the virus. Although researchers are contemplating the idea of using nanoparticles to combat the virus, the idea is still in a nascent stage, and the research activities of nanorobotics backed by the government may witness significant delays.
The nanorobotics market is highly consolidated and consists of a few significant players. In terms of market share, few of the major players currently dominate the market as the technology is still in a developmental phase. The companies and researchers are yet to deploy the applications of nanorobotics commercially. However, the growth of certain startups is expected over the forecast period.
June 2019 EV Group launched a fully integrated track system that combines cleaning, resist coating, and baking preprocessing steps with the company's proprietary SmartNIL waferlevel nanoimprint lithography process in a single platform for wafers up to 300 millimeters in diameter. It supports the production of a variety of devices and applications, including optical devices for augmented/virtual reality (AR/VR) headsets, 3D sensors, biomedical devices, nanophotonics, and plasmonics.
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