Nanotechnology Tipped to Grow at 17 percent
Nanotechnology is rapidly growing in many sectors including healthcare, cosmetics, energy and agriculture.
The nanotechnology market is expected to grow at a compound annual growth rate (CAGR) of around 17 percent presenting a great opportunity for industry participants to tap into the fast growing market, says a research from Research and Market released in May.
According to the study, with a forecast period of 2018 to 2024, nanotechnology is rapidly growing with potential applications in many sectors of the global economy including healthcare, cosmetics, energy and agriculture.
Further, it was said that the healthcare industry is one of the largest sectors where nanotechnology has made major breakthrough with its application for the diagnosis and treatment of chronic diseases like cancer, heart alignments etc.
However, the study says that significant developments are being done in other sectors like electronics, agriculture and energy.
Research and Market covered the country-level analysis of 13 major countries, including the US, France, UK, Germany and Russia among others with the factors considered are research and development, patent analysis, funding and regulations.
It was noted that the industry showed impressive growth in 2017 owing to numerous factors including increase in government and private sector funding for R&D along with increased demand for smaller and powerful devices at affordable cost.
The study mentions certain companies that are set to play a key role during the forecast period, including :
- Nanophase Tech (OTC:NANX): A leader in nanomaterials technologies providing nanoengineered solutions for multiple industrial applications. The company delivers commercial quantity and quality nanoparticles, coated nanoparticles and nanoparticle dispersions in a variety of media.
- Ablynx (OTC:ABLYF): A biopharmaceutical company engaged in the development of Nanobodies proprietary therapeutic proteins based on single-domain antibody fragments, Ablynx is dedicated to creating new medicines.
- Acusphere (OTC:ACUS): This pharmaceutical company is developing cardiovascular drugs for the detection of coronary artery disease.
- PEN (OTC:PENC): The Company develops, manufactures and sells products based on nanotechnology and is involved in multiple sectors including health, transporation, military, sports and safety industry.
- Bruker (NASDAQ:BRKR): Bruker is the parent company of Bruker Nano Gmbh, which is based in Berlin. Bruker Nano GmbH develops, manufactures and markets X-ray systems and components for elemental and structural analysis on the micro-and nano scale
With the huge growth projected for the nanotechnology market, investors looking to jump into the sector can take comfort in knowing the companies listed above will play an ample role in the industry’s growth.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.