New York, NY 08 May 2021: The global gold nanoparticles market is anticipated to reach USD 1.52 billion by 2026 and is anticipated to grow at a CAGR of 10.2 % from 2018 to 2026. Gold nanoparticles market is anticipated to witness significant growth over the forecast period. Growing demand for nano technological medical products, inherent advantages of gold nanoparticles, as well as growing application portfolio in medical field are expected to boost market growth. The global growth in the electronics industry are also expected to contribute to the overall market growth.
Inefficient tumor therapy, less developed drug targeting methods, drug resistant tumors, are a major cause for rising number of deaths due to cancer ailments. Gold nanoparticle enables efficient drug delivery, enhanced bio-imaging as well as aid in the selectivity of a wide range of drugs. The growing number of cancer ailments combined with the effect of gold nanoparticles is expected to benefit the market demand.
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Toxicity of gold nanoparticles is expected to restrain market growth. Prescribed regulations aimed at containing this toxicity have to be abided by manufacturers. Industry participants have developed novel manufacturing methods which eliminate the usage of such toxic substances in their manufacturing processes.
Gold nanoparticles are used in memory devices. These products are also used to manufacture insulators which display excellent stability and also contribute to the prevention of charge accumulation. Due to their excellent catalytic as well as conductive properties, electronics industry is widely utilizing this material.
Research and Development activities are influencing the market growth. Researchers have developed products which can attract and destroy the viruses in the body. These products mimic the human body cells. These products can also be used to cure antimicrobial diseases. Different materials have also been developed to be used to treat ageing skin diseases. The growing medical industry is benefitting the market demand.
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The prevalent medical industry in North America, as well as strong presence of industry participants is contributing to the regional demand. Strong demand from countries such as China, India and Japan is propelling the Asia Pacific market growth. Companies are focusing on developing regions to gain market share.
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