According to a report published by Grand View Research, Inc.; the global gold nanoparticles market is anticipated to reach a valuation of around USD 4.86 billion by 2020. Rising demand for nanotechnology-based therapeutics and diagnostics from medical sector can drive the market over the forecast period (2012 to 2020). In addition, advancements in nanotechnology and growing demand for metal nanoparticles in various end-use companies is also expected to boost the market growth.
Advancements in nanotechnology have increased the demand for nanoparticles in medical diagnostics. Products based on nanotech improve the performance and quality of finished products. This factor is anticipated to impel the market growth over the forecast period. Applications of these systems for the diagnosis and treatment of tumours and cancer can further propel the demand for metal nanoparticles in drug delivery system.
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The nanotechnology market is witnessing surge in intellectual property filings about cancer targeting nanoparticles and nanowires. These can be also used in the diagnosis of cardiac diseases and other infectious agents. In addition, rising scope of application in diagnostic tests for HIV/AIDS, cancer, and other ailments is expected to create more opportunities for R&D in medical industry in near future.
Gold nanoparticles find applications in several other industries such as electronics and chemical catalysis. Increasing demand for compact mass storage like flash cards, USB drives, micro SD, and DLNA devices can impel the global market. These nanoparticles are also used for improving plastids for plant biotechnology research, which is anticipated to create business opportunities over the forecast period. In this process nanoparticles are coated with DNA and inoculating them into plant cells, nanowires, fuel cells, and colorimetric sensors. Growing investments in R&D activities and commercialization of product based on specific application can also support the market growth during the forecast period.
However, factors like volatile gold prices and instable supply of gold as a raw material is anticipated to hinder the growth of the market for gold nanoparticles. In addition, stringent guidelines by various agencies like the National Institute of Standards and Technology (NIST), Nanomaterials Registry, and the International Organization for Standardization (ISO) for creating and handling nanomaterials may also pose challenges for the growth of the market.
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The worldwide gold nanoparticles market can be segmented on the basis of end-use and regions. As per end-use, the market can be split into catalysis, electronics, medical and dentistry, and others. The others segment can be further categorized into glass, cosmetics, and photometry. Geographically, the market can be divided into North America, Europe, Asia Pacific, and Rest of the world.
In 2016, North America accounted for the largest share of around 30% of overall market in terms of revenue. The life science and medical research industry are anticipated to grow swiftly in the region. Increasing investments in R&D by nanotechnology companies and institutions and growing medical diagnostics industry in the region is expected to boost the market growth in the region.
Asia Pacific is anticipated to exhibit the fastest growth at a CAGR of over 25% from 2014 to 2020. Development of nanomaterial industry and increasing electronic manufacturing hubs in Japan, South Korea, Taiwan, and China may drive regional growth in the forthcoming years. In addition, development of photovoltaic and high precision printing industry is also expected to support the market growth in the region.
Europe is expected to register considerably restricted growth than North America and Asia Pacific during the forecast period due to smaller number of investments in electronics and medical sectors. However, rising investment in healthcare sector, growing health insurance coverage, and high number of geriatric population are anticipated to improve the industry growth in the years to come.
Prominent players operating in the gold nanoparticles market include Nanopartz Inc.; NanoBio Chemicals India Pvt. Ltd.; NanoRods LLC; BBI Solutions; and NanoHybrids Corp. The market is extremely competitive due to presence of both medium scale and large multinational conglomerates. The industry is considered as highly cost exhaustive and has modest yield for a specific type of applications. The market participants are expected to make high investment to conduct R&D activities for developing specific-end-use application.
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