The latest report by IMARC Group, titled “Magnetite Nanoparticles Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global magnetite nanoparticles market size reached US$ 74.2 Million in 2022. Magnetite nanoparticles (NPs) are made of various metallic elements, such as iron, nickel, cobalt, and platinum. They exhibit super magnetic properties at ambient temperatures and can be manipulated using a magnetic field. They are also compact and non-toxic in nature, making them viable for applications in biosensors, ferrofluids, catalysis, magnetic separations, and magnetic resonance imaging (MRI) contrast agents. In addition, they are used in novel biomedical applications due to their high coercivity, low curie temperature, and excellent magnetic susceptibility. Besides this, magnetite nanoparticles are used in nanotoxicology and magnetic nanotechnology research and development (R&D) activities across the globe.
Global Magnetite Nanoparticles Market Trends:
The market is primarily driven by the rising product applications in cancer therapy, targeted delivery systems, and drug nanocarriers (NCs). In addition, the rising prevalence of chronic diseases and the surging need for improved diagnostic modalities and personalized treatments represents another major growth-inducing factor. Besides this, magnetite NPS is widely used in the wastewater treatment processes such as flocculation, demulsification, adsorption, filtration, and photocatalytic activities due to their magnetic properties that help remove contaminants from wastewater. This, coupled with the rapidly diminishing freshwater resources and the growing wastewater complexities, is positively influencing the market growth. Moreover, the increasing utilization of magnetite NPs in various industrial applications and medical practices to improve the quality of life of patients is also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 139.2 Million by 2028, exhibiting a CAGR of 10.4% during the forecast period (2023-2028).
- Based on the type, the market has been bifurcated into iron and cobalt based.
- On the basis of the physical form, the market has been segmented into nanopowder, solution, and dispersion.
- Based on the application, the market has been classified into bio-medical, electronics, wastewater treatment, energy, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being American Elements, Cytodiagnostics Inc., Merck KGaA, Nano Research Elements Inc., nanoComposix (Fortis Life Sciences), Nanografi Nano Technology, Nanoshel LLC, Reade International Corp., SkySpring Nanomaterials Inc., Strem Chemicals Inc., and US Research Nanomaterials Inc.
|Base Year of the Analysis
||Type, Physical Form, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||American Elements, Cytodiagnostics Inc., Merck KGaA, Nano Research Elements Inc., nanoComposix (Fortis Life Sciences), Nanografi Nano Technology, Nanoshel LLC, Reade International Corp., SkySpring Nanomaterials Inc., Strem Chemicals Inc. and US Research Nanomaterials Inc.
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