Nanotechnology Services Global Market Report 2024

The nanotechnology services market size has grown strongly in recent years. It will grow from $190.13 billion in 2023 to $205.52 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The expansion observed during the historical period can be ascribed to factors such as increased investments in research and development (R&D), government-led initiatives, growing environmental awareness, the trend towards electronics miniaturization, and advancements in the field of medical innovations.

The nanotechnology services market size is expected to see strong growth in the next few years. It will grow to $291.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The projected growth in the forecast period can be linked to the integration of artificial intelligence (AI) and nanotechnology, a revolutionary transformation in healthcare, the expanding use of nanotechnology in energy and environmental applications, its role in enhancing electronics, and the development of sustainable nanomaterials. Notable trends in this forecast period encompass the use of nanomedicine and advanced drug delivery systems, the incorporation of nanocomposites in manufacturing processes, the application of nanotechnology in agriculture, the integration of nanotech in sensors and the Internet of Things (IoT), as well as the emergence of nanotech-enabled consumer products.

Increased investment from both governmental initiatives and corporate sectors within the realm of nanotechnology has significantly contributed to the expansion of the nanotechnology services market. Notably, substantial investments have been made through programs like the National Nanotechnology Initiative (NNI) in the United States. The NNI received a budget request of over $1.7 billion in the President’s 2021 Budget. Additionally, the National Institutes of Health (NIH) invested around $445 million in nanomedicine in 2020. The inception of platforms like Invest in Nano in 2020 further augmented these investments by connecting groundbreaking nanotechnology firms with potential investors. This combined financial support from governments and corporate entities in the field of nanotechnology has been pivotal in propelling the growth of the nanotechnology services market.

The primary categories of nanotechnology services encompass research and development, information tracking, technology scouting, standardization, regulatory briefings, and other related offerings. Research and development is a critical process aimed at creating new or enhanced technologies that can confer a competitive edge at the corporate, industry, or national levels. These services find applications in a wide range of industries, including pharmaceuticals, medical equipment, food and beverages, IT, and more. Providers of these services include both large enterprises and small and medium-sized businesses.

The nanotechnology services market research report is one of a series of new reports that provides nanotechnology services market statistics, including nanotechnology services industry global market size, regional shares, competitors with a nanotechnology services market share, detailed nanotechnology services market segments, market trends and opportunities, and any further data you may need to thrive in the nanotechnology services industry. This nanotechnology services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Anticipated growth in energy consumption is foreseen to act as a driving force in the burgeoning expansion of the nanotechnology services market. Energy consumption, referring to the aggregate energy usage by individuals, businesses, and industries, is closely interlinked with the ascent of nanotechnology services. Nanoscale materials and technologies necessitate a substantial amount of energy for research, development, manufacturing, and application processes. Furthermore, nanotechnology itself contributes significantly to enhancing energy efficiency, promoting cleaner energy production, and fostering environmental sustainability. For instance, data reported by the UK Government Digital Service illustrated a 4.6% growth in total energy usage from 2020 to 2021. This trend signifies that increasing energy consumption has a direct impact on driving the growth of the nanotechnology services market.

The high cost associated with nanomaterials is expected to constrain the expansion of the nanotechnology services market. Nanoparticles, which are minuscule particles found in various products, from medical devices to high-definition televisions, come at a significant price. As an illustration, the cost of gold nanoparticles can be notably expensive, reaching approximately $80 for just one milligram and $80,000 for a gram. Nanotechnology is inherently an expensive domain of research, accessible mainly to developed nations that possess the financial resources for substantial investments. This high cost of nanomaterials adversely impacts the nanotechnology services market, acting as a deterrent for potential end-users seeking such services.

Enterprises in the nanotechnology services market are directing their attention towards the burgeoning applications of nanotechnology within the healthcare industry. Nanotechnology services are opening pathways for the development of a new wave of diagnostic and therapeutic methodologies for significant diseases. A recent illustration of this occurred in January 2023 when ENTOD Pharmaceuticals, an India-based pharmaceutical company, introduced its Eyecirque range. This new line is specifically tailored to improve eye comfort and enhance ocular aesthetics. Comprising a nanotechnology-based gel serum, under-eye skin brightening and anti-ageing tablets, lubricating eye drops, and essential eye supplements, the Eyecirque range is a prime example of nanotechnology's expansion into healthcare innovation.

Prominent players within the nanotechnology services market are seeking to boost their market position and financial viability through strategic partnerships. An instance of this proactive approach was observed in July 2022 when The Dow Chemical Company, a US-based chemical corporation, established a partnership with BSB Nanotechnology Joint Stock Company. Dow's strategic alliance with BSB Nanotechnology is driven by its commitment to bio-based products. The collaboration is geared towards the development and dissemination of bio-based, low-carbon ingredients in the personal care sector by leveraging the expertise and resources of both entities. BSB Nanotechnology Joint Stock Company, the partnering company, is a US-based enterprise specializing in nanotechnology services.

Major companies operating in the nanotechnology services market include AdvanceTEC LLC, Abbie Gregg Inc., BREC Solutions Limited, Cambridge Innovation Consulting Limited, EMC Service Inc., Foley & Lardner LLP, HDR Inc., Ike Scientific Corporation, Innovationsgesellschaft mbH, Intelligent Enclosures Inc., Kilopico LLC, M+W Group GmbH, Malsch TechnoValuation GmbH, Nanotech Plus LLC, NanoTEN LLC, Porter Wright Morris & Arthur LLP, Research Facilities Design Inc., The Microscopy & Imaging Place Inc., Yole Développement SA, Nanonics Imaging Ltd., DuPont de Nemours Inc., Arkema S.A., DUST Identity Inc., Hummingbird Scientific Pvt Ltd., actnano Inc., Voyant Photonics Inc., It's Nanoed Inc., LakeHawk Technologies Inc., eLux Medical Inc., 4wave Inc.

North America was the largest region in the nanotechnology services market in 2023. Western Europe was the second largest region in the nanotechnology services market. The regions covered in the nanotechnology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the nanotechnology services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The nanotechnology services market consists of revenue earned by entities that engage in conducting research and experimental development in nanotechnology. Technology promises scientific advancement in a variety of fields, including medicine, consumer goods, energy, materials, and manufacturing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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