Magnetic nanoparticles are acquire from magnetite (Fe3O4). These nanoparticles exhibit super magnetic properties at surrounding temperatures and can be influenced using a magnetic field. Magnetic nanoparticles are usually available in colloidal form. These nanoparticles garner substantial interest from the biomedical application sector because of their biocompatibility and super magnetic characteristics.
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Magnetic nanoparticles find utilization in material science, magnetic fluid recording, catalysis, bio-medicines, etc. There are different methods of synthesizing magnetic nanostructures, some of them are: chemical synthesis, heat decomposition and template supported fabrication. Template supported fabrication has a benefit over chemical synthesis. The synthesis process defines the shape, size, magnetic property and surface chemistry of the magnetic nanoparticle. Magnetic nanoparticles can show these magnetic behaviors – diamagnetism, paramagnatism, antiferromagnetism and ferromagnetism.
COVID-19 Impact analysis
Magnetic nanoparticles are being used in many different segments of the market hence it is very diversified, and this diversification is the reason for the market to prosper even in a situation like the Covid 19 pandemic, even though the electronic segment of the market suffered adversely the medical industry has prospered which directly helped to steady the market for magnetic nanoparticles. As explained earlier magnetic nanoparticles are used in the treatment of many diseases, the preperation of covid vaccine was also one of them which has a lot of positive impact for the market and helped the market to keep a growing steadily.
However one of the primary usage of magnetic nanoparticles is in the electronic segments of the market which suffered a hefty loss and the impact of covid was very adverse on them, despite the magnetic nanoparticle prospering in the medical industry the loss in the electronic industry proved very noteworthy.
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Top Impacting Factors
The global magnetic nanoparticles is driven primarily by the presence of utilization of these particles in different sectors for instance in vivo imaging, medical industry for drug delivery, drugs & therapy, nano fluids, biomedicine, and others. Growing research activities is anticipated to drive the growth of the market during the forecast time. Moreover, the nano powders and solutions induced of nanoparticles are massively used in the separating contaminants from water as nanoparticles provide high surface area and recyclability. This has further boosted the research activities in the magnetic nanoparticles market.
In the medical industry, nonstop research and development towards magnetic resonance imaging for the treatment of cancerous cells is anticipated to lead the magnetic nanoparticle market. It is estimated that the electronics industry will take a major portion in the magnetic nanoparticle market, due to the heavy utilization of these particles in the electronics industry. Iron oxide (magnetite) nanoparticles, due to their massive supermagnetic, non-toxic and easy degradability characteristics are commonly used in magnetic storage gadget and magnetic resonance imaging in the medical industry.
Market Trends
Asia-Pacific is anticipated to drive the market during the forecast time. This region includes the escalating market in the ferrofluid industry with India leading the growth, followed by China. Both nations are anticipated to observe a strong growth in terms of consumption of magnetic nanoparticles. The other factors assisting the growth of the market in this region include presence of cheap labor and encouraging government policies.
North America is anticipated to observe a substantial growth during the forecast time because of the favorable policies by the government. Growing use of nanotechnology-based devices on the basis of production and utilization especially in U.S. will further nourishing the growth of the market in this region.
Europe is expecting a strong rise during the forecast time due to the growth in expenditure in research and development activities to find the cure of different diseases. The growth in demand for the market will further boost the market growth in this region. Moreover, LAMEA is expecting a steady growth rate due to the lack of knowledge and minimal government support.
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Key Benefits of the Report
This study presents the analytical depiction of the magnetic nanoparticles industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the magnetic nanoparticles market share.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the magnetic nanoparticles market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed magnetic nanoparticles market analysis based on competitive intensity and how the competition will take shape in coming years
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