Nanobots Market Size, Share, Industry, Forecast and outlook (2024-2031)

Nanobots Market is segmented By Type (Respirocyte Nanobots, Microbivore Nanobots, Clottocyte Nanobots, Cellular Repair Nanobots), By Application (NanoMedicine, Biomedical, Mechanical, Others), By Region (North America, Europe, South America, Asia-Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Nanobots Market Overview

Global Nanobots market to grow at a high CAGR Of 10.8% during the forecast period 2024- 2031. The market is expected to grow because it becomes important in NanoMedicine, Biomedical, Mechanical . The competitive rivalry intensifies with Thermo Fisher Scientific, Xidex Corp., EV Group, and others operating in the market.

Nanobots are a growing technology field creating machines or robots whose components are at or near the scale of a nanometer. Nanobots are nanoscopic robots that refer to nanotechnology that involves the engineering, designing, and building of nanorobots. A nanobot is roughly the size of a red blood cell or smaller, measured largely on the scale of 0.1-10 micrometers.

Nanobots Market Scope

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Nanobots Market Dynamics

The nanobots market growth is driven by the rising government support and level of investment in nanorobotics, increasing advancements in molecular robots, rising focus on nanotechnology and regenerative medicine and growing research for cancer treatment.

Technological advancements and growing research for cancer treatment is expected to drive the growth in the forecast period

Nanobots are injected into the patient to perform diagnosis or treatment on a cellular level, and the diagnosis or treatments involve the nanoscale, molecular, or atomic level. Treatments with nanorobots may include alterations in the structure and composition at the molecular or submolecular level. The various areas of applications of nanorobots leverage the unique properties of materials and devices in the nanoscale dimensions. For instance, in 2019, dozens of startups looked to get in on this emerging new field. One of those is Pumeram, based in Prague and has already raised EUR 11.5 million to develop rocket, spheroid, and even screw-shaped nanobots that will help treat diseases ranging from skin and oral ailments to fertility problems. The startup's cancer-killing nanobots have already been successfully tested on mice.

The tech giant, Google, partnered with the big pharma giant GlaxoSmithKline to form its nanobot powerhouse, showing nanorobotics' significance in the future. Eligo, a startup founded in France, raised USD 27.4 million till mid-2019 to put protein-based nanobots in the bowels and is now focused on moving different clinical programs into humans.

Moreover, in 2020, researchers worldwide are developing skilled nanobots that can perform a wide range of surgeries on humans. They will be programmed and guided with external magnetic fields. Nanobots can perform eye surgeries with needles, clear blocked arteries by drilling a corkscrew through arterial blockages and collecting biopsies.

High cost of development, stringent regulatory policies are likely to hinder the growth of this market

High cost of development, stringent regulatory policies associated with the development and utilization of nanobots, and restricted use of nanobots in integration with medical devices are some factors that are likely to hinder the growth of this market during the forecast period. For instance, Anthony McDaniels of Rare Petro Technologies noted that in 2012, a surveillance device that cost USD 10,000 and took 6 months for design, decision, power, communications, and installation can, in 2017, be installed for less than USD 300.

Nanobots Market Segmentation Analysis

The respirocytes nanobots segment is expected to hold the largest share in this market segment

Respirocytes are nanorobots designed as artificial mechanical red blood cells, bloodborne spherical 1 µm diameter sized. The outer shell is made of a diamondoid 1000 atm pressure vessel with reversible molecule-selective pumps. Respirocytes carry oxygen and carbon dioxide molecules throughout the body. The respirocyte would deliver 236 times more oxygen to the body tissues when compared to natural red blood cells.

The nanomedicine segment is expected to hold the largest share in this market segment

Nanobots are widely used in nanomedicine due to the increasing healthcare applications of nanobots. The large market share of this segment is attributed to the large level of commercialization in the healthcare sector for drug delivery, in vivo imaging, active implants, in vitro diagnostic, biomaterial, and drug therapy. Additionally, increasing innovations in cancer treatment related to the specific target also contribute to the growth of the nanobots market.

Nanobots Market Geographical Share

North America region holds the largest market share of the global nanobots market

The growth of adoption in nanotechnology, coupled with high expenditure on healthcare, is expected to impact the market in the region positively. The United States has one of the highest costs of healthcare in the world. In 2018, the United States spent about USD 3.6 trillion on healthcare, about USD 11,000 per person. The Centers for Medicare and Medicaid Services (CMS) project that by 2028, such costs will climb to USD 6.2 trillion, or about USD 18,000 per person, and will represent about 20 percent of GDP. As most of the nanorobotics applications are related to health care, the region is expected to witness an increase in technology adoption in such related applications.

However, the most direct impact the coronavirus pandemic will have on U.S. health care spending is through testing and treatment of COVID-19. The University of Washington Institute for Health Metrics and Evaluation (IHME) model suggests the outbreak is reaching its peak in the U.S. and is bound to put a severe strain on the government in terms of spending to tackle the virus. Although researchers are contemplating using nanoparticles to combat the virus, the idea is still in a nascent stage, and the research activities of nanorobotics backed by the government may witness significant delays.

Nanobots Company and Competitive Landscape

Nanobots market is highly competitive with the presence of global companies.  Some of the key players which are contributing to the growth of the market include Xidex Corp., Zymergen Inc., Synthace Limited, Bruker Corporation, JEOL, Ltd., Thermo Fisher Scientific, EV Group, Kleindiek Nanotechnik GmbH, Toronto Nano Instrumentation, Ginkgo Bio work. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, in June 2019, EV Group launched a fully integrated track system that combines cleaning, resist coating, and baking pre-processing steps with the company's proprietary SmartNIL wafer-level nanoimprint lithography process in a single platform for wafers up to 300 millimeters in diameter. It supports the production of a variety of devices and applications, including optical devices for augmented/virtual reality (AR/VR) headsets, 3D sensors, bio-medical devices, nanophotonics, and plasmonics.

Nanobot Market Key Companies to Watch

Thermo Fisher Scientific Inc

Overview: Thermo Fisher Scientific Inc is the world leader in serving science, with annual revenue exceeding $30 billion. Based in Waltham, Massachusetts, Thermo Fisher was created in 2006 by the merger of Thermo Electron and Fisher Scientific, to form a company with US$ 9 billion in combined revenues. With a global team of more than 80,000 colleagues delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.

Product Portfolio: The Company’s portfolio comprised of includes scientific instrumentation, reagents and consumables, and software and services to healthcare, life science, and other laboratories in academia, government, and industry (including in the biotechnology and pharmaceutical sectors).