The pharmaceutical & healthcare industry is projected to lead the metal nanoparticles market. Metal nanoparticles have numerous applications in in-vivo therapies, in-vitro techniques, diagnostics, and as drug carriers. The usage of metal nanoparticles in the healthcare application provides advantages such as target specificity and minimizes undesired side-effects. MarketsandMarkets projects that the global Metal Nanoparticles Market size will grow from USD 12.35 billion in 2017 to USD 25.26 billion by 2022 at a CAGR of 15.4%. The increase in application areas of metal nanoparticles and the supportive government initiatives & funding are expected to be the major drivers of the metal nanoparticles market.
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On the basis of metal, the market for metal nanoparticles is segmented into platinum, gold, silver, iron, titanium, copper, nickel, and others (aluminum, zinc, magnesium, and tin). Economical price, easy availability, and wide application areas (in electrical & electronics, cosmetics, healthcare, and textile industries) contribute to its dominant position in the market, in terms of volume. The gold nanoparticles segment is projected to grow at the highest CAGR during the forecast period. Non-toxic and bio-compatible nature of gold nanoparticles to both in-vitro and in-vivo environments contribute to the growing application of gold nanoparticles in the biomedical industry. Furthermore, gold nanoparticles have also made their presence felt in fuel cell applications, therapeutic agent delivery, SERS (Surface Enhanced Raman Scattering), biological imaging, and transmission electron microscopy.
The pharmaceutical & healthcare industry was the major user of metal nanoparticles; however, they are also used widely in electrical & electronics, catalyst, and personal care & cosmetics industries. Favorable government incentive systems for manufacturing industries, coupled with rising population, are expected to propel the growth of the end-user industries such as electrical & electronics, and cosmetics, which in turn would fuel the consumption of metal nanoparticles.
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The metal nanoparticles market in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022, owing to the increasing scope of applications of metal nanoparticles in the healthcare, electronics, cosmetics, textiles, and water treatment in the region. Furthermore, rapid industrialization and growth in demand for compact or microelectronics drive the growth of the metal nanoparticles market in this region.
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