[FURL=https://industryarc.com/]Click Here[/FURL] Nanomagnetics market is forecast to reach $8.0 billion by 2025, after growing at a CAGR of 3.9% during 2020-2025, owing to the increasing demand for nanomagnetic from various end-use industries such as electronics, medical, and automotive as it is one of the most effective methods to make materials stronger, lighter, durable, and reactive. Globally, biotechnology, data storage, and retrieval, development of efficient and advanced technology, growing demand for nanomagnetic devices are the prime growth drivers of the global nanomagnetics market. Furthermore, increasing government initiative across the globe, and growing demand for minimally invasive and non-invasive surgical procedures is also anticipated to propel the market during the forecast period.Key Takeaways
Asia Pacific dominates the nanomagnetics market, due to the increasing demand for nanomagnetics from the electronics sector in the region. By 2025, India could create a digital economy of $800 billion to $1 trillion. The growing electronics sector will propel the nanomagnetics market in the Asia Pacific.
According to the United States International Trade Commission, the total exports of electronic products grew by $7.9 billion (3 percent) to $268 billion in 2017 in the United States. Since electronic products are widely using nanomagnetics, it is anticipated that the increasing demand for electronic products will further drive the nanomagnetics market.
Nanomagnetics surgeries are being extensively done to address the drug delivery devices and diagnosis of diseases such as cancer and ailments of the brain or the heart, which is the major factor driving the nanomagnetics market growth during the forecast period.
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Nanomagnetic Market Drivers
Growing Demand for Nanomagnetics from the Electronics Industry
Silicon-based transistors can't get much smaller than they already are because they have nearly reached their physical size limitations at the nanoscale, which means that the continual improvement in computer speed and efficiency that consumers have come to expect will slow down or stall unless a viable, alternate technology is identified.
Emerging Applications of Nanomaterials in Healthcare & Life science Sectors
Nanomagnetics are being widely used in medicine and pharmaceuticals for the sensitive detection of key biological molecules, more precise and safer imaging of diseased tissues, and novel forms of therapeutics because of their mechanical, optical, electrical, and chemical behaviors.
COVID-19 Impact on The Nanomagnetics Market
The outbreak of COVID-19 has created a need for developing affordable and scalable detection methods, safe personal protection equipment, and new effective medical solutions, which can be achieved using Nanomagnetics.
Nanomagnetics market top 5 companies are Fujitsu Laboratories, Ltd, IBM Corp, Liquids Research Ltd., Quantum Design, and Bayer Schering Pharma AG
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