Nanotechnology Services Global Market Report 2022

NEW YORK, DECEMBER 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Global Nanotechnology Services 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 companies rearranging their operations and recovering from the impact of COVID-19, which earlier led to restrictive containment measures including social distancing, remote working and closing of businesses which led to operational challenges. The market is expected to reach $228.27 billion in 2026 with a compound annual growth rate of 7.2%.

The nanotechnology services market consists of sales of nanotechnology services and related goods by entities (enterprises, sole traders and partnerships) that engage in research and experimental development in nanotechnology. Only goods and services that are traded between entities or that are sold to final consumers are included.

The main types of nanotechnology services are research and development, information tracking, technology exploration, standardization, regulations briefing, and others. Research and development is a process aimed at creating a new or improved technology that can provide a competitive advantage at business, industry, or national levels.

The services are used by various industries including pharmaceuticals, medical equipments, food and beverages, information technology, and others. The different providers include large enterprises and small and medium enterprises.

The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

The high cost of nanomaterials is expected to limit the market for nanotechnology services, and nanoparticles are tiny particles smaller than the width of a strand of hair and can be found in a wide range of products from drug delivery devices to HDTVs.

For example, one milligram of gold nanoparticles costs about $80, and a gram of gold nanoparticles is about $80,000.

The high cost of nanomaterials negatively affects the market for nanotechnology services as it discourages end users from seeking services.

Rising government and corporate investments in nanotechnology have contributed to the growth of the nanotechnology services market. For example, investments under the National Nanotechnology Initiative (NNI), a US government initiative to research and develop nanoscale projects involving 20 federal and independent agencies in 2019, amounted to $1.4 billion. Cumulatively, the US government invested $27 billion from 2001 to 2019. In 2019, the Nanomedia Group developed a dedicated nanotechnology investment platform to leverage premium technology in order to accelerate companies’ entry into global markets through impact investments. The portal, Invest In Nano, debuted with a 2020 program that will launch a mission to connect advanced nanotechnology companies with investors. The rise in government and corporate investments in nanotechnology has driven the market for nanotechnology services.

Countries covered in 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/?

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