Healthcare industries are pioneering nanotechnology innovation with use in diagnostics, drug delivery, and medical imaging, according to a report on Monday.
Nanotechnology
has the potential to transform numerous industries with a growing demand for
sustainable materials, environmental remediation, faster electronics, and
innovative therapies.
The report by
GlobalData, a data and analytics company, showed that the healthcare and
technology sectors are currently at the forefront of innovation witnessing
rapid commercialisation.
In the technology
sector, nanotechnology is enhancing the performance of electronic devices,
helping to push forward the next era of advanced computing.
"Nanotechnology's
commercialisation varies greatly by sector due to a combination of factors. The
first is the level of investment in research and development in each sector.
Industries such as technology and healthcare have seen faster commercialisation
due to high investment," said Isabel Al-Dhahir, Principal Analyst,
Thematic Intelligence at GlobalData.
"The
complexity and regulatory hurdles associated with bringing nanotechnology
products to market and mixed consumer perception of nanotechnology products in
food and consumer goods can also impact commercialisation rates,"
Al-Dhahir said.
To boost
commercialisation of the advanced technology is the gaining of regulatory
approvals.
This is further
complicated by regional divergence in regulation and unclear frameworks.
Al-Dhahir noted that "the rapid pace of technological advancements in
nanotechnology has outpaced the development of regulatory frameworks, leaving
gaps in oversight and enforcement".
Further, the
report showed that "nanotechnology's potential risks and benefits are
still being studied". This makes it more challenging for regulators to
establish proper guidelines without sufficient scientific evidence.
Despite the
challenges, the US, China, and some countries in the European Union are heavily
investing in nanotechnology to secure a competitive edge in the global market.
They also believe
that nanotechnology can drive economic growth, and address critical societal
challenges.
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