A new analysis report on the Nanotools Market which is forecasted between 2023 and 2028 has been published by Knowledge Sourcing Intelligence.
The prime factors propelling the market growth of the nanotools market are rising demand for minimally invasive surgeries, growing use in the electronics industry, and an increasing number of biotechnology companies.
As per the report, the nanotools market is estimated to reach a market size worth US$27.08 billion by 2028.
Nanotools are a broad range of instruments designed to characterize, and study materials at the nanoscale. Some of the nanotools are electron microscopes, nanofabrication tools, and nanoparticle synthesis tools. Researchers investigate the special feature and behaviors that appear at the nanoscale using nanotools. High-quality nanoMEMS components are designed, developed, and mass-produced by nanotools.
Various collaboration and technological advancements are happening in the market which is driving the nanotools market growth. For instance, in August 2021, Alcyon Photonics announced the launch of a Process Design Kit (PDK) developed in collaboration with leading integrated photonic foundry company Applied Nanotools. Customers can efficiently develop their photonic designs with the help of this PDK and Applied Nanotools’s proprietary foundry services.
The market for nanotools is divided into nanolithography, microscopes, nano-manipulators, and nano-machining tools depending on the product type. Microscopes are expected to grow significantly as researchers frequently utilize electron microscopes to examine the morphology, structure, and composition of nanomaterials. Expanding the healthcare industry, medical diagnosis, and biological research is driving the microscopes segment of the nanotools market. For instance, cancer was the leading cause of death worldwide accounting for more than 10 million deaths in 2020 as per the WHO reports.
The market is segmented by end-user into electronics and semiconductors, renewable energy, mining, metallurgy, healthcare, biotechnology, and other sectors. The usage of nanotools in the healthcare industry has grown, and they are now seen to hold tremendous promise for application in the detection, treatment, and monitoring of a wide range of illnesses, including cancer. The demand for minimally invasive surgeries is further propelling the nanotools market in the healthcare sector. For instance, out of 15.6 million cosmetic procedures in 2020, around 13.2 million cases were minimally invasive procedures as per the American Society of Plastic Surgeons.
According to geographic segmentation, North America is anticipated to account for a sizable portion of the market throughout the anticipated period. Various factors attributed to significant growth in the region are the rising demand for minimally invasive surgeries, increasing medical diagnosis, and the presence of a technologically advanced healthcare system. For example, according to the Commonwealth Fund Organization, the diagnosis rate for colorectal and breast cancer is highest in the US among other nations.
The research includes coverage of Heidelberg Instruments, Raith GmbH, Nanonics Imaging Ltd., Applied Nanotools, Nanophase Technologies Corporation, NIL Technology, Hitachi High Technology Corporation, and Oxford Instruments as significant market players in the nanotools market.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/nanotools-market
This analytics report segments the nanotools market on the following basis:
- By Product Type
- Nano Machining Tools
- By End-User Industry
- Electronics and Semiconductor
- Renewable Energy
- By Geography
- North America
- United States
- South America
- The Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America