Exponential Growth Expected for Global Nanoparticles Market with Complete SWOT Analysis by Forecast to 2021 to 2027

Market Overview

A Nanoparticle is an ultra-light particle that has a nucleus and can be made from different elements. There are a variety of different types of nanoparticles that include; drugs, Nanoparticles, Nanoscience, Nanoscale, Nanoproplets, Nanostructures, and Nanoengineered devices. A nanoparticle is generally defined as a sub-particle of any material that is more than 100 atoms in diameter. One of the most common uses for these particles is in the production of fuel for fuel cells and hydrogen power generators. With the help of advanced nanotechnology, the efficiency of these particles in converting energy into electricity is much higher than conventional fuel cells. Due to the high efficiency of these devices, these Nanotechnologies are fast becoming popular in numerous applications such as fuel cell technology and hydrogen power generators.

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Market Dynamics- Driver & Restraint

Rapid growth of the pharmaceutical industry is expected to drive growth of the global nanoparticles market during the forecast period. According to the India Brand Equity Foundation (IBEF), India’s domestic pharmaceutical market is expected to reach US$ 65 billion in 2024, increasing from US$ 41 billion in 2021. According to the same source, the market is expected to reach around US$ 120-130 billion by 2030. This, in turn, has increased the demand for nanoparticles in the pharmaceutical industry where they are used in customized solutions for drug delivery systems.

Expensive manufacturing and volatile prices of materials are expected to restrain growth of the global nanoparticles market during the forecast period.

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COVID-19 Impact Analysis

Similar to several other markets, the nanoparticles market was significantly impacted by the outbreak of the COVID-19 pandemic. However, various inorganic nanoparticles have been used for drug delivery for viral infections. As a matter of fact, gold nanoparticles are attractive in vaccines as they can act to increase the immune response. Furthermore, silver nanoparticles have exhibited antiviral activity when they are employed with bronchodilators, which can be used in treating COVID-19.

Key Takeaways

The global nanoparticles market is expected to witness significant growth, exhibiting a CAGR of XX%, during the forecast period, owing to increasing advancements in healthcare technology and medical imaging applications.

Among regions, North America is expected to witness significant growth in the global nanoparticles market during the forecast period. This is owing to increasing cases of cardiovascular diseases and diabetes. According to the National Diabetes Statistics Report 2020, around 34.2 million people in the U.S. have diabetes.

Asia Pacific is expected to register a robust growth rate, owing to rapid growth of pharmaceuticals research and development activities in India and China.

Key players operating in the global nanoparticles market are Abraxis Biosciences, Inc., Wyatt Technology, Novartis International AG, Hitachi Ltd., Gilead Sciences, Inc., Agilent Technology Inc., Johnson & Johnson, and Malvern Instruments Ltd.

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