Wide Scope of Application from Medical Industry to Escalate Metal Nanoparticle Market Growth During 2021–2028
According to our latest market study on “Metal Nanoparticle Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Metal (Gold, Silver, Iron, Platinum, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemical, Personal Care and Cosmetics, and Others),” the market was valued at US$ 25,373.92 in 2020 and is projected to reach US$ 81,567.38 by 2028; it is expected to grow at a CAGR of 15.9% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Metal nanoparticles are basically engineered materials and their size ranges from 10 to 100nm. Metal Nanoparticles have exceptional properties such as high aspect ratio and uniform size. They are used in a wide spectrum of applications, such as catalysis, medical, and energy storage. The metal nanoparticles have various applications in end-use industries, such as pharmaceuticals and healthcare, chemical, cosmetics, and electrical and electronics.
In the medical industry, metal nanoparticles are increasingly being used in therapeutic agents, drug delivery, bioimaging, and cancer diagnostics as well as treatment, among other applications. Various types of metal nanoparticles, including silver, titanium, gold, platinum, and copper, are known for their potential therapeutic effects. Gold and silver nanoparticles effectively inhibit the growth of gram-negative and gram-positive bacteria. Gold nanoparticles are used to detect biomarkers in the diagnosis of infectious diseases, cancer, and heart diseases. Silver nanoparticles have antimicrobial and anticancer properties, and they are increasingly being used in the production of wound coatings and device coatings. Copper nanoparticles are being used in medical sector for the protection, control, and treatment of infections. Thus, a surge in the application of various metal nanoparticles in the medical industry is driving the metal nanoparticles market.
A few of the major key players operating in the global metal nanoparticle market are American Elements; BBI Group; EPRUI Biotech Co. Ltd.; Meliorum Technologies, Inc.; Nanocomposix; Nanosc, Inc.; Nanostructured and Amorphous Materials, Inc.; Nanoshel LLC.; TANAKA HOLDINGS Co., Ltd.; and US Research Nanomaterials INC.
Impact of COVID-19 Pandemic on Metal Nanoparticle Market
The ongoing COVID-19 pandemic has impacted the metal nanoparticles market. The outbreak has distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, which has created revenue loss and damage. The disruptions in the production and supply chain have had a negative impact on the metal nanoparticles market. The implementation of lockdown in various countries along with travel restrictions has lessened the global supply of products along with a reduced logistic operation. Research has been ongoing for the utilization of gold nanoparticles for COVID-19 testing kits, which will provide the results in minutes. In the US, a group of researchers at the University of Maryland claimed that they have developed a diagnostic test that can detect the novel coronavirus that causes COVID-19 within 10 minutes and the results will be visible with naked eyes. Along with this, Sugentech, Inc. (a company in Republic of Korea) developed SGTi-flex COVID-19 IgM/IgG test kit, which is a gold nanoparticle-based immunochromatographic test kit that determines COVID-19’s IgM and IgG antibodies. The test helps in determining the antibodies that are specific proteins, which are developed in response to the infection. Thus, an increased usage of gold nanoparticles in the healthcare sector is having a positive impact on the metal nanoparticles market.
Report : Metal Nanoparticle Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Metal (Platinum, Gold, Silver, Iron, Titanium, and Others) and End-Use Industry (Pharmaceutical and Healthcare, Electrical and Electronics, Chemicals, Personal Care and Cosmetics, and Others)
The report includes the segmentation of the Global Metal Nanoparticle Market as follows:Based on metal, the global metal nanoparticles market is segmented into gold, silver, iron, platinum, titanium, and others. Based on end-use industry, the market is segmented into pharmaceutical and healthcare, electrical and electronics, chemical, personal care and cosmetics, and others. By geography, the global metal nanoparticle market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America comprises countries such as the US, Canada, and Mexico. Europe constitutes Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific consists of China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Middle East & Africa (MEA) comprises South Africa, Saudi Arabia, the UAE, and the Rest of MEA. South America constitutes Brazil, Argentina, and the Rest of South America.