According to a report by Grand View Research, Inc.; the worldwide gold nanoparticles market is predicted to attain USD 4.86 billion by 2020. Gold nanoparticles can be used in organic photovoltaics, sensory probes, drug delivery, therapeutic agents, catalysis, and electronic conductors. Increasing investment in R&D, improvements in the field of nanotechnology, and rising demand for metal nanoparticles in numerous end-use industries can propel the market during the forecast period (2014 to 2020).
High demand for nanotechnology-based diagnostics and therapeutics from the medical industry is expected to boost the market over the forecast period. These products are extensively utilized for the diagnosis and treatment of cancer cells and tumors. Nanotechnology medical products are also used in diagnostic tests for cardiovascular diseases and HIV/AIDS. The product finds applications in dentistry as well since gold nanoparticles are considered as an ideal osteogenic agent. It is extensively used in titanium dental implant surfaces as well. The product can also be utilized as a contrast agent in dentistry for optical coherence tomography (OCT). All these factors are expected to propel market expansion in near future.
Full Research Report On Gold Nanoparticles Market Analysis:
Various ongoing research projects regarding the application of nanoparticles in gene therapy of plants, electronics and electrical products such as nanowires, fuel cells, colorimetric sensors, and others can also provide potential business opportunities in near future. Electronic biosensors and compact mass storage devices like USB drives, CD, DVD, and flash cards require gold nanoparticle inks and nanowires. This is anticipated to drive market growth till 2025. Gold nanoparticles have better stability and lesser crystal growth compared to platinum and silver molecules. Rising applications in glass tilting, fruit protection, and photovoltaic can make a positive outlook for the market in forthcoming years.
However, strict guidelines by various international authorities to improve standards for manufacturing, handling, and sale of nanoparticles can restrain market growth to a certain extent. Additionally, inadequate and instable supply of gold and varying prices of raw materials may also hamper the market growth.
The global gold nanoparticles market is segmented on the basis of end use and regions. Based on end-use, the segments are medical and dentistry, catalysis, electronics, and others. The others segment is further divided into glass, cosmetics, and photometry. In 2013, medical and dentistry held over 50% market share in terms of volume. In addition, nanotechnology medical products witnessed 17% CAGR from 2009 to 2014 and may continue displaying healthy growth by 2020. Electronics may grow rapidly at a CAGR over 20% during the study period.
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Geographically, the market can be divided into North America, Europe, Asia Pacific, and RoW. In 2013, North America acquired the largest market share and over 30% market share in terms of volume. Escalating medical diagnostics industry and impressive R&D activities by individual nanotechnology firms and universities are the primary regional drivers. Asia Pacific is anticipated to showcase rapid growth at a CAGR over 25% during the forecast period. This region is considered as one of the largest electronic manufacturing hubs and a key consumer of DLNA, micro SD, flash drives, and photovoltaic devices. Technological advancements in nanotechnology in countries like Japan, Taiwan, China, and South Korea are expected to drive the regional market growth in near future. Development of photovoltaic and high precision printing may also support market growth. Europe, on the other hand, is estimated to display sluggish growth during the forecast period.
Some of the key companies operating in the gold nanoparticles market are Nanopartz Inc.; NanoBio Chemicals India Pvt. Ltd.; NanoHybrids Corp.; Solaris Nanoscinces; and Innova Biosciences. The market boasts of a wide range of small regional as well as international vendors. Most companies are continually involved in R&D activities to survive the stiff competition in the market.
Recently, a group of scientists from the National University of Science and Technology “MISiS” along with their associates from the Saha Institute of Nuclear Physics (Kolkata, India) collaborated to create stable gold nanoparticles to fight against cancer. These non-toxic and inexpensive nanoparticles can prove effective in early diagnosis of cancerous cells.
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