The Rising MRIs Is Expected To Augment the Magnetite Nanoparticles Market Growth


Magnetite Nanoparticles Market by Application (Biomedical, Electronics, Wastewater Treatment, Energy, and Other Applications) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Magnetite Nanoparticles Market is estimated to be valued at US$ 54.97 million in 2021 and is expected to exhibit a CAGR of 9.78 % over the forecast period as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Magnetic nanoparticles have been vastly utilized in the field of biomedicine, such as drug delivery, MRI, hyperthermia, and cell isolation. Magnetite nanoparticles have a superparamagnetic nature and can be utilized in the biocomposites matrix to make magnetic bionanocomposites. Magnetic nanoparticles in drug delivery is that they can’t be concentrated into a 3-D space, as the application of an outer magnetic field arranges the magnetite nanoparticles into a 2-D area.

Competitive Landscape:

Key players involved in the growth of global Magnetite Nanoparticles Market are American Elements, Fortis Life Sciences, Sigma-Aldrich (Merck KGaA), Cytodiagnostics Inc., and US Research Nanomaterials, Inc.

Market Key Drivers:

The rising demand of micro fluids, drug delivery and MRI is expected to augment the growth of the global Magnetite Nanoparticles Market. For instance, as per ISMRM, over 10 million patients experience MRI procedure and 150 million patients take MRI scans.

The increasing use of magnetite nanoparticles in consumer electronics is projected to propel the growth of global Magnetite Market. For instance, According to the Consumer Technology Association, the retail revenue from consumer electronics/technology sales in the United States was estimated at USD 461 billion in 2021.

Covid-19 Impact Analysis:

The Covid-19 Impact outbreak has adversely affected the growth of global magnetite nanoparticles market due to the rising imposition of shutdown and strict restrictions. The disruption in supply chain, the halt in supply of raw materials and restrictions of transportation has impeded the market growth.

Key Takeaways:

The global magnetite market is expected to exhibit a CAGR of 9.78 % during the forecast period owing to the rising acquisitions and mergers. For instance, In July 2022, Fortis Life Sciences entered an acquisition with nanoComposix. Fortis Life Sciences is development force in the field of magnetic particle development and production.

Among regions, North America, Asia Pacific and Europe anticipated to witness robust growth in the global market due to increasing mergers and acquisitions, rising partnership and collaboration, increasing investment and growth of electronic sectors. For instance, In 2021, the Mexican government has introduced at least 38 infrastructure

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