Chemical Market ShareAnalysis Nanotechnology Market Research Growth Opportunitie | Page 2

requirement of nanoparticles such as the gold nanoparticles for technological transformation of healthcare industry is
driving the market growth in forecast period. Besides, the large investment from private sector for development of
nanotechnology and numerous initiatives from governments are multiplying the progress of the nanotechnology
market.
Increasing adoption of nanotechnology for production of metal nanoparticles, which are broadly consumed in
biomedical sciences and bioengineering is expected to boost market growth in the near future. The nanoparticles have
become major attraction due to their significant potential for development of nanotechnology in the healthcare
industry.
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In recent times, metal nanoparticles are synthesized and altered along with different bio-chemical functional groups.
This allows metal nanoparticles to conjugate with anti-bodies, ligands, and medicine. Due to these vast functionalities,
allows a broad range of possible applications in biotechnology, magnetic severance, pre-concentration of required
analysts, targeted medicine distribution, and transportation for gene and medicine delivery. The various metal
nanoparticles also allow diagnostic imaging used in biotechnology.
Some of the extensive applications of nanotechnology in different industry verticals include automobile industry,
electronics & electrical sector, pharmaceutical industry, military & defense sector, consumer goods, electronics,
filtration, and life sciences, which are also expected to contribute positively to market expansion. Introduction of Nano
cellulose technology, which gaining widespread popularity in applications such as scaffolds in tissue engineering,
artificial skin and cartilage, wound healing and vessel substitutes, and biodegradable food packaging, are estimated to
boost market growth over the next seven years.
The market is broadly categorized into major segments based on the product type such as nanomaterials, nano-tools,
and nano-devices. The nanomaterials is considered as one of the fastest growing segment in the market with
substantial revenue generation in the last few years. Growing popularity of the segment is attributed to the increasing
demand form electronics industry, power & energy sector and defense industry. The nano-devices segment has also
witnessed substantial growth owing to the increasing adoption in the electromechanical devices.
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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the implementation of latest technologies in electronic sector,