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Nanotechnology Services Global Market Report 2022
Major players in the nanotechnology services market are AdvanceTEC, Abbie Gregg, Inc. (AGI), BREC Solutions Limited, Cambridge Innovation Consulting (CamIn), EMC Service, Foley & Lardner, HDR, Ike Scientific, Innovationsgesellschaft and Intelligent Enclosures.
New York, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nanotechnology Services Global Market Report 2022" - https://www.reportlinker.com/p06193716/?utm_source=GNW
The global nanotechnology services market is expected to grow from $158.98 billion in 2021 to $172.89 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $228.27 billion in 2026 at a CAGR of 7.2%.
The nanotechnology services market consists of the sales of nanotechnology services and related goods by entities (organizations, sole traders, and partnerships) that engage in conducting research and experimental development in nanotechnology. Only goods and services traded between entities or sold to end consumers are included.
The main types of nanotechnology services are research and development, information tracking, technology scouting, standardization, regulation briefings, and others.Research and Development is a process that aims to create new or enhanced technology that can provide a competitive edge at the business, industry, or national levels.
The services are used by various industries including pharmaceuticals, medical equipment, food and beverages, IT, and others. The different providers include large enterprise and small and medium enterprise.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of nanomaterials is expected to limit the nanotechnology services market.Nanoparticles are tiny particles that are smaller than the width of a strand of hair and it can be found in a wide range of products from drug-delivery devices to high-definition televisions.
For instance, one milligram of gold nanoparticles costs about $80 and for a gram of gold nanoparticles, it is around $80,000.Nanotechnology is an expensive area of research and only developed nations have the resources to invest in it.
The high cost of nanomaterials negatively impacts the nanotechnology services market as it discourages the end-users to seek services.
The rise in investments from government and companies in the field of nanotechnology contributed to the growth of the nanotechnology services market. For instance, the investments under the National Nanotechnology Initiative (NNI), a US government initiative for the research and development of nanoscale projects involving 20 federal and independent agencies in 2019 was $1.4 billion. Cumulatively, the USA government has invested $27 billion from 2001 to 2019. In 2019, Nano Media Group has developed a dedicated nanotechnology investment platform to promote outstanding technology in order to speed enterprises’ entry into global markets through impact investments. The portal, Invest In Nano, debuted with a 2020 programme that would kick off a mission to connect breakthrough nanotechnology companies with investors. The rise in investments from government and companies in the field of nanotechnology drove the nanotechnology services market.
The countries covered in the nanotechnology services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA
Read the full report: https://www.reportlinker.com/p06193716/?utm_source=GNW
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