Portland, Nov. 19, 2019 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global nanotechnology market was accounted for $1.05 billion in 2018 and is projected to reach $2.23 billion by 2025, registering a CAGR of 10.5% from 2019 to 2025. The research offers a vast analysis of major segments, changing market trends, top pocket investors, drivers and opportunities, and competitive scenarios.
Emerging technological advancements in nanotech devices and the rise in the adoption of nanotechnology in medical diagnosis are the two major factors driving the growth of the nanotechnology market. Whereas, the high cost of the technology and problems regarding the deployment of nanotech devices in extreme weather conditions are the factors that restrain the market growth up to a certain extent. However, a surge in government support and funding, and the emergence of self-powered nanotech devices are expected to provide lucrative opportunities in the industry.
The global nanotechnology market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The North America region held the largest revenue share in 2018, contributing to nearly one-third of the total market share. This region is projected to continue its highest position throughout the forecast period. However, the Asia Pacific region would grow at the highest CAGR of 12.80 % from 2015 to 2025.
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Based on type, the market is bifurcated into nanosensor and nanodevice. The nanosensor segment held the largest share in 2018, contributing to more than half of the total share. This segment is expected to continue its position throughout the estimated period. Moreover, the segment would grow at the fastest CAGR of 9.60% during the forecast period.
Based on application, the market is bifurcated into electronics, energy, chemical, aerospace & defense, healthcare, and others. The chemical segment held the major market share in 2018, accounting for nearly one-third of the total market share. This segment would continue its leadership position throughout the forecast period. Moreover, the energy segment would grow at the highest CAGR of 13.8% from 2018 to 2025.
The key players in the global nanotechnology market include Nanoics Imaging Ltd., Advanced Nano Products, Thermofisher Scientific, eSpin Technologies, Inc., Applied Nanotech Holdings Inc., Imina Technologies Sa, Kleindiek Nanotechnik Gmbh, Bruker Axs, and Biosensor International.
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