According to the latest market research study by Technavio, the global nanomagnetic market is expected to grow at a CAGR of close to 3% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global nanomagnetic market regarding revenue and emerging market trends. The report also comprises an up-to-date breakdown and forecasts for various market segments and all geographical regions.
Technavio research analysts sort the market based on the application
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The top three revenue contributing application segments are deliberated below:
Nanomagnetic market for medical and genetics: The rising demand for compact and portable diagnostic sensing systems will boost the growth of the nanomagnetic market in the healthcare sector. These innovative devices will provide quick, accurate, and useful vital statistics and help in the diagnostics of several diseases and medical conditions that are difficult to diagnose through conventional diagnostics systems. These nanomagnetic components have a variety of operations in the healthcare sector and will continue to grow during the forecast period.
“The compact size and high sensitivity of nanosensors make them suitable for implementation in remote health monitoring systems. These blood sensors are used to detect pathogens and can detect multiple chemical compounds within the body. The development of statistic monitoring systems through nanomagnetic components will revolutionize the healthcare sector in the next four years,” says Sunil Kumar Singh, a lead analyst at Technavio for research on semiconductor equipment.
Nanomagnetic market for data storage: The increasing popularity of miniaturization in data storage devices will propel the demand for nanomagnetic components in the global market. Various established universities across the world are developing innovative technologies for computer data storage using nanomagnetism, nanochemistry, and nanophotonics. These researchers will help minimize the size of computer hard drives to almost 100 times smaller and 10,000 times faster than the current hard drives. Such advancement in technology will help in the evolution of the global market.
Nanomagnetic market for sensors: The increasing focus on the improvement of detection limits of magnetic sensors to increase the scope of applications will drive the growth in this market segment. The manufacturers are developing high sensitive magnetic tunnel junction nanoscale sensors with controlled and customized linear range that will provide the necessary features for spatially resolved detection of magnetic signals. These devices will find applications in magnetic field mapping, biomedical imaging, and single nanoparticle detection.
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The top vendors operating in the global nanomagnetic market are:
- Nano Magnetics
- Quantum Design
- NanoMagnetics Instruments
- Liquids Research
A more detailed analysis is available in the Technavio report titled, ‘Global Nanomagnetic Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Nanowire Market 2017-2021
- Global Semiconductor Micro Components Market 2017-2021
- Global Semiconductor Production Equipment Market 2017-2021
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