Molecular Robotics Market size is anticipated to witness more than 17.8% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the technical advancements in robotics and automation development, along with the increasing investment for the R&D in this direction. Development of new technologies, including artificial intelligence, has widened the scope for innovation in the field of technology, which has raised the government funding and investment in technology. This is also expected to boost the market growth. Moreover, the application of molecular robotics in studying controlled chemical reactions, discovering drugs and treatment methods for rare diseases, and genetic research, is estimated to boost the growth of the market in the upcoming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
17.8% |
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Regional Scope |
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The global molecular robotics market is segmented by application into drug discovery, genetic research, and others, out of which, the drug discovery segment is anticipated to hold the major share in the market during the forecast period on account of escalating prevalence of rare diseases and increasing demand for novel treatment methods. Moreover, increasing investment in research by pharmaceutical companies, is estimated to boost the growth of the segment. On the basis of end-user industry, the market is segmented into chemical, pharmaceutical, and others, out of which the pharmaceutical segment is projected to garner significant revenue, owing to the growing R&D activities, funded by major pharmaceutical companies, for the development of better drugs. For instance, in the U.S., the investment in drug development for diseases, such as, Alzheimer’s disease, cancer, and heart stroke, amounted to over USD 180 billion, in 2018.
Our in-depth analysis of the global market includes the following segments
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By Technology |
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By Application |
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By End-User
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North America Market Statistics
Regionally, the global molecular robotics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is predicted to dominate majority revenue share by 2036, on the back of advanced technology present in the region, along with constant development in technology. Moreover, the presence of major pharmaceutical companies, high healthcare expenditure and increasing investment in R&D activities, is expected to drive the regional market growth According to the data by the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America.
APAC Market Analysis
The molecular robotics market in the Asia Pacific region is estimated to witness notable CAGR over the forecast period owing to the emerging scope for technological research and development in countries, such as, Japan, and China.
Author Credits: Abhishek Verma
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