Gold nanoparticles market has been witnessing strong growth over the last few years on account of increasing demand from medical and dentistry sector and trend is expected to continue over the forecast period. Growing application scope of nanotechnology in medical sector especially in diagnostics and imaging application is the key factor expected to drive the market over the next six years. Gold nanoparticles are used in detection of tumor cells and cancer drug delivery. These advantageous factors are expected to boost nanoparticles demand over the forecast period. Gold nanoparticles are also used in electronic industry. Gold nanoparticles market is expected to witness significant growth owing to the increasing consumer focus towards compact electrical devices.
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These advantages have been driving the global nanoparticles market in major end-use industries including electronics, sensory probes, therapeutic agents and medical applications. Gold nanoparticles are available at nano scale size ranging from 5nm to 100nm.
Technological advancement in electronic industry is anticipated to open new opportunities for gold nanoparticles market over the projected period. Gold nanoparticles have ability to convert light energy into heat energy. This property of gold nanoparticles is expected to drive the market growth on account of increasing usage in photovoltaic applications including solar panels. Demand for solar panels has been increasing over the last few years and in turn is expected to drive gold nanoparticles market in near future. Increasing R&D activities in nanotechnology is likely to create an opportunity for the market participants over the foreseeable period. However, increasing environmental concerns regarding use of nanoparticles coupled with the adverse effect on human health is expected to hamper the market over the forecast period.
Medical sector was the largest application segment for gold nanoparticles market over the last few years. Increasing nano technology demand in diagnostics and photo imaging in medical sector is the key factor likely to drive the market growth in near future. Increasing R&D activities is anticipated to open new opportunities for gold nanoparticles market to enter pharmaceutical and healthcare industry over the forecast period.
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Gold particles are used as a conductor in electronic industry to attached small conductors and resistors in chip design. Electronic industry has been the second largest and fastest growing application segment of gold nanoparticles over the last few years. Advancement in nanotechnology in electronic industry is the key factor expected to drive the market growth over the next six years.
Furthermore, increasing consumer preference towards compact devices like CDs, DVDs and flash card is also expected to surge market growth over the projected period. Gold nano particles are also used in catalysis process to enhance the chemical reaction rate in many chemical industries. Gold nanoparticles find wide range of application in photodynamic therapy, therapeutic agent delivery, sensors and probes, which is expected to complement the market growth over the forecast period.
North America was the dominating regional market over the recent past, and the trend is expected to continue over the forecast period. North America gold nanoparticles market is likely to experience boost over the next six years owing to growing demand for diagnostics industry coupled with technological advancement in medical sector in this region. Asia Pacific is the second largest market for gold nanoparticles on account of significant electronic industry demand in this region. Moreover, major end-use industries in India and china are on boom, which is likely to fuel the market growth over the next six years. Europe has been witnessing sluggish growth over the last few years on account of market saturation in this region.
Gold nanoparticles market is highly competitive in nature. Competitive advantage is gained through innovative products and technological advancement. Increasing R&D activities is expected to create an opportunity for the gold nanoparticles market. Key players in the market include Solaris Nanosciences Corporation, Innova Biosciences, Sigma Aldrich Corporation, Nanosphere and Nanostellar Inc.
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