Global nanotechnology market to grow at CAGR 19% during 2011-13
The nanotechnology industry is still at a nascent stage. However, as the nanotechnology- based products are becoming popular worldwide, the industry future prospects look very bright, said the research firm.
Undoubtedly, nanotechnology could be used (or embedded) in several sectors like, consumer products, transportation, healthcare, energy, and agriculture. In addition, it presents a plethora of new opportunities to improve the measurement system, monitoring capabilities, management, and minimize contaminants in the environment.
For the incorporation of nanotechnology in different sectors and rapid commercialization of nanotechnology products, the governments across the globe are heavily investing on the nanotechnology products.
Along with the government support, private sector companies are also heavily investing on the R&D of nanotechnology products. The research firm has found that the US dominates the global nanotechnology market and was estimated to account for 38.5 percent of the total market at the end of 2009.
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