A news report suggests that the Nanotechnology market is projected to reach USD 33.63 bn by 2030. The market’s growth will be augmented by growing government funding for R&D initiatives will fuel the market’s growth. According to a report by Valuates, the global Nanotechnology market which was valued at USD 1.76 billion in 2020 is projected to reach USD 33.63 billion by 2030, registering a CAGR of 36.4 percent from 2021 to 2030. Nanotechnology has had a significant impact and serves as a revolutionary and beneficial technology across various industrial domains, including medicine, aerospace, and defense which will drive the growth of the market. The report says that the growth of the market will be supported by growing government funding for R&D initiatives. Based on type, the nanodevice segment will be the most lucrative during the forecast period. While on an application basis, the healthcare segment will grow the highest in the nanotechnology market share due to widespread applications in imaging, targeted drug delivery, nanorobots for surgery, diagnostics, cell repair, and biosensors. Also, aerospace and defense industries are expected to grow at the fastest CAGR of 43.4 percent due to extensive R&D initiatives. Based on region, the Asia-pacific segment will grow at the highest CAGR of 40 percent due to rising investments in nanotech devices by government, healthcare, and manufacturing industries.
