A Research and Markets report suggests that between 2017 and 2024, the nanotechnology industry will grow at a CAGR of 17 percent.
Who said the nanotechnology industry is dead?
Certainly not research firm Research and Markets. The firm released a report in late January titled the “Global Nanotechnology Market Outlook 2024,” indicates the global nanotechnology market is poised for continual growth over the next several years, which should provide some level of comfort to investors in the industry.
According to the report, the nanotech market will grow at a compound annual growth rate (CAGR) of 17 percent between 2017 and 2024.
Fueling that growth will be potential applications from a wide range of industries, including: healthcare, cosmetics, energy, and agriculture, to name a few.
“The technology is revolutionizing every industry, while tremendously attracting worldwide attention,” the report says. “There lies a great opportunity for industry participants to tap the fast growing market, which would garner huge revenue on the back of commercialization of the technology.”
Since 2016, the industry has experienced a significant growth spurt, thanks to an increase in government and private sector funding for research and development (R&D), partnerships and strategic alliances amongst countries, and an increase in demand for smaller and stronger devices at a much lower costs.
Unsurprisingly, the health care industry is at the forefront of nanotech’s recent growth spurt. This technology has assisted in diagnoses and treatments of chronic diseases such as types of cancers and heart ailments, to name a few.
Companies leading the way
According the report, some of the public companies at the forefront of nanotech’s growth over the next several years include:
- Ablynx (EBR:ABLX): Ablynx is a Belgium-based pharmaceutical company currently developing Nanobodies, proprietary therapeutic proteins that are based on single-domain antibody fragments that combine conventional antibody drugs with features of small molecule drugs;
- 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;
- Pen Inc. (OTCMKTS:PENC): Pen Inc. markets and sells products enabled by nanotechnology. More specifically, it develops and sells products based on its portfolio of intellectual property–its products includes a portfolio of nano-layer coatings, nano-based cleaners, printable inks and pastes, and thermal management materials.
All told, while the nanotechnology industry tends to get overshadowed by up and coming exciting ones, Research and Markets’ report is indicative the future is still bright for this industry–and, of course, with the help from companies ensuring the nanotech sector isn’t going anywhere anytime soon.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.