Interpreting, configurating and blending matter at the atomic as well as molecular scale is known as nanotechnology. After a few decades of constant research over nanoscience and years of extensive R&D on this high-end tech, practice and utilization of nanotechnology are now benefiting our society in both expected and unexpected ways. With the promise to be helpful to society in more than one way, nanotechnology is on its continual effort to perk up and transform an end number of industry sectors. The rapidly growing list of the advantages and applications it offers has actually triggered the scientists to work on it yet more and come up with new wonders altogether.
Impact on medical science-
Gone are those days when dealing with cardiovascular diseases was by far a gigantic task. However, according to the research conducted by the scientists at the University of Bath and Bristol, nanotechnology can go to the extent of cropping up a pacemaker that can effectively help avert heart failure and improve the lives of those suffering from cardiovascular diseases. The scientists created an advanced pacemaker that perks up the heart’s ability to thrust blood quite proficiently and saves energy as well. The pacemaker is not at all bigger than the size of a postage stamp and it is beset to considerably expand the life of those who undergo heart failure. The conventional pacemakers on board are designed to keep heartbeats at a persistent rate; but then, the heart doesn’t function that naturally within the body. On the other hand, putting pacemakers up with the capacity to work at par with the lungs would certainly stow less stress on the muscle.
Impact on society-
Well, what can be better than utilizing the immense potential of nanotechnology in regard to solar power? The potency of artificial photosynthesis can be best used in connection with solar panel, thereby providing the society with the much-needed respite. Previously, scientists had already used an appliance namely water splitter that would permit hydrogen to be formed to generate power when there is no direct sunlight. But, this tool was largely reliant on silicon, which would oxidize pretty quickly when placed in contiguity with electrolytes. And, thus, the device has only been used for short period till date. Nevertheless, with nanotechnology in use, developing solar energy can now become even more fruitful. When it can increase sustainability, it can also pave the way for a number of lucrative options. Scientists at the University of Stanford took an initiative to check a silicon-based water splitter from oxidizing by gilding it with two nanometers of nickel. Coating the silicon cell with nickel has brought forth propitious results indeed. Still, further probe is needed to come out with an economical fueling method. And, it doesn’t end here! The use of nanotechnology has also scaled up to evolve long-standing environmental cleaning functions, especially to help take away air & water borne contaminants. This is done by producing tiny sieves that bring together toxic units. Last but not the least; this high-end technology has also made its way in IT, transportation and electronics industry.
Impact on energy applications-
The world would definitely be a better place to live in, once the rising energy demands of the space is perfectly met. Nanotechnology, with its exclusive prowess, peeps in here too and shows its flair. Finding effective use in conventional energy sources, nanoscience is now amplifying alternate energy tacks to meet the ever-growing demand for energy. Also, scientists are now looking for effective ways to ensue cost-efficient and viable energy sources so that the toxic burden on the environment can be lowered down to a significant extent. At the same time, this smart approach is expected to curtail down the level of energy consumption as well. Nanotechnology is now tweaking the efficacy of fuel production from raw petroleum ingredients through better catalysis. It is also making way for less fuel depletion in vehicles as well as power plants through higher-efficiency ignition and diminished abrasion.
Nanoscience is also being used in gas and oil abstraction. Nanotechnology-enabled gas lift faucets in coastal chores and nanoparticles to descry microscopic down-well oil pipeline fissures are the two perfect examples of it. Researchers are also up with the spree to make wires comprising carbon nanotubes that is supposed to have much lower contention than that of the high-tension cables commonly in use in electric framework, thus plummeting broadcast power loss to a considerable degree. Furthermore, an extensive research on carbon nanotube “scrubbers’’ and membrane is still on. This is expected to disperse the poisonous and noxious carbon dioxide from power plant exhaust.
According to Allied Market Research, the global nanotechnology market is expected to grow at a significant CAGR from 2019-2025. Growing adoption of nanotechnology in medical diagnosis and emerging technological advancements in nanotech devices fuel the growth of the global nanotechnology market. On the other hand, problems regarding the deployment of nanotech devices in extreme weather conditions and high cost of the technology check the growth to some extent. However, rising government support & funding and emergence of self-powered nanotech devices have almost downplayed the factors and created multiple opportunities for the key players in the industry.
In a nutshell, as the study of nanoparticles and devices, nanotechnology and nanoscience have got their application extended to an array of fields such as material science, bio-medical, mechanics, chemical and others. Involving the implementation and formation of devices and biological systems at scales stretching from separate atoms to about 100 nanometers, the nanotechnology market has now augmented its demand across a plethora of sectors worldwide. And, there is no doubt that nanotechnology brings about a considerable impact, and spoons out as an innovative and highly advantageous technology across numerous industrial domains, including agriculture, transportation, consumer products, medicine, communication, materials & manufacturing, energy, and even households.
To conclude, we can state that, the nanotechnology market is expanding quite profusely and it’s going to boom yet more in the years to come.
Its impact on global economy and businesses is considerably high, entailing deep economic and negative social impacts, which, in turn, leads to geopolitical repercussions.
The nanotechnology market before COVID-19 pandemic was expected to witness a steady growth with increase in research and developments for the application of nanotechnology in various fields of science & technology such as manufacturing, 3D printing, medicine, and advanced materials.
Moreover, the nanotechnology market is expected to prosper by the end of the year 2021, and is anticipated to be accelerating at an exponential growth rate in the coming future.Impact of COVID-19 on several industries associated nanotechnology marketNanotechnology offers potential opportunities for the medical & healthcare sector.
Medical professionals are taking advantage of these features to develop and treat the COVID-19-infected patients.In addition, the pharmaceutical nanotechnology market emphasizes on the development of nanostructures that promote innovative drug delivery systems as therapeutic alternatives to different pathologies.
In addition, the United States Federal Government leads the world in nanotechnology R funding.
NNI has already made valuable contributions to the development of nanotechnology.
All sporting events around the world have been closed for several months in view of the coronavirus epidemic.
Meanwhile, the NBA (National Basketball Association) is preparing for its next season.
In the new season, players can take the field wearing a safety ring.
It will be able to detect the initial symptoms of coronavirus from ring players.
Also, be able to monitor the players’ body temperature and heart rate.
Like the SmartWatch, this smart ring will have a variety of sensors that can detect the symptoms of COVID-19 from players.This information has been given by The Athletic Journalist Shams Charania through his Twitter handle.
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Easy To Coat: Easy to cover hard substances like pipes and conductive surface, product flexibility is good enough.
Mold Resistance: Safes substances from the algae and bacterial stuff.
Condensation Control: Controls the temperature of the substance that is below the dew point.
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