The global nanorobotics market is anticipated to grow at a substantial CAGR of 11.4% during the forecast period. Nanorobotics application in tissue engineering, cellular aid in inflammatory responses, dental surgery, and other disciplines of the healthcare business are contributing to market growth. Nanorobotics is used in disease track, pharmacokinetics, to enhance efficiency and effectiveness of healthcare, and target drug delivery in cancer therapeutics. The technology is also being used in cancer diagnosing and treatment as well as in gene therapy. Further, it is also used in dentistry operations, in various chemical reactions as secondary devices, and for monitoring and controlling glucose levels in diabetic persons. The utilization of nanorobotics technology can enhance biomedical intervention with hardly interfering surgeries and allow patients to monitor body functions continually. These technologies are also used in biomedical applications to enhance treatment efficiency through the exact diagnosis of possible causes of serious diseases. Nanorobots are used to cure cancer through an exact chemical dosage administration and to process specified chemical reactions in the human body as ancillary devices for infectious organs. Owing to their nanoscale features, nanorobots can be effortlessly injected into the human body to target the exact location of damaged cells.

Moreover, nanorobots are used for observing and managing glucose levels in diabetic patients. Some of the other medical applications of nanorobots that are propelling the nanorobotics market growth include repairing damaged tissues and unblocking arteries affected by plaques. However, with rising complications with miniaturization, the requirement of skilled professionals is hindering the market growth. 

Impact of COVID-19 Pandemic on Global Nanorobotics Market

COVID-19 pandemic has a significant impact on the nanorobotics market. Due to the COVID-19 pandemic, in many countries, the supply chain of raw materials required to manufacture nanorobots had got disturbed. In addition, the market growth of nanorobotics is declining, as the manufacturer of these devices has slowed down their production.

Segmental Outlook 

The global nanorobotics market is segmented based on type and application. Based on the type, the market is segmented into nanomanipulators, bio-Nanorobotics, and others. Among these, the nanomanipulators segment is expected to hold a lucrative share in the market. The nanomanipulation technology is used for the construction of components for quantum and molecular computers, semiconductor preparation, and microbiological system preparation. As robotics are involved in nanomanipulation for the creation of many nanomanipulation systems, nanomanipulators were first employed in the physics and chemical sectors. These systems were shown to have higher capabilities than industrial manipulators. Nanomanipulators are nanorobotic systems that are used to manipulate atoms and molecules. They were one of the first nanorobotic systems to be commercially accessible. Based on the application, the market is sub-segmented into medicine, biomedical, mechanical, and others. 

Global Nanorobotics Market Share by Application, 2020 (%)

Medicine Segment is Expected to Hold Prominent Market Share in the Global Nanorobotics Market

The medicine segment is expected to hold a prominent market share in the global nanorobotics market owing to the commercialization of nanomedicine in the healthcare sector. Nanomedicine is used on a vast scale for drug delivery in vitro diagnostics, in vivo imaging, biomaterial, drug, therapy, and active implants. Nanotechnology is being located in numerous clinical trials that are currently in progress for neurodegenerative, cardiovascular, inflammatory, and musculoskeletal diseases. Nanomedicine application spans various areas such as vaccine development, drug delivery, wearable devices, diagnosis & imagining tool, and antibacterial. It is anticipated to manage more effective drug development, better devices, and early diagnosis of the wide range of diseases going ahead. 

Regional Outlooks

The global nanorobotics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).  The market can be analyzed for a particular region or country level as per the requirement. North America holds the major share in the nanorobotics market owing to high government investment in nanotechnology to serve various applications such as drug delivery and drug therapy. Furthermore, Europe is expected to grow at the fastest rate in the nanorobotics market, followed by Asia-Pacific. The attributable factors for the growth of the Asia-Pacific region are the increasing adoption and development in the nanotechnology sector coupled with high expenditure on healthcare.

Global Nanorobotics Market Growth, by Region 2021-2027

Europe is expected to be Fastest Growing in the Global Nanorobotics Market

The European nanorobotics market is expected to be the fastest-growing market owing to high rising investment by private and public investors in the health care sector. The existence of research laboratories in numerous nations of Europe including the UK, France, and Germany is further anticipated to contribute to market growth during the forecast period. This is attributed to the fact that nanorobots can assist to research with the least fault. Furthermore, Europe was among the first to acknowledge the potential of nanorobotics and their use in the treatment of targeted diseases. 

Market Players Outlook

The major companies serving the global nanorobotics market include Bruker Corp, Ginkgo Bioworks, EV Group, Imina Technologies SA, JEOL Ltd., Oxford Instruments, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2018, Bruker corp. acquired JPK Instruments. The acquisition expanded the life science microscopy portfolio of Bruker Corp with the nanotechnology expertise of JPK Instruments. 

The Report Covers

    • Market value data analysis of 2020 and forecast to 2027.

    • Annualized market revenues ($ million) for each market segment.

    • Country-wise analysis of major geographical regions.

    • Key companies operating in the global nanorobotics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

   • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

    • Analysis of market entry and market expansion strategies.

    • Competitive strategies by identifying ‘who-stands-where’ in the market.