An important factor in the emergence of Nanotechnology is the belief that it would have positive effects on the global economy. According to analysts, the worldwide nanotechnology sector is expected to grow between € 750 billion and € 2 trillion by 2022. It depends on the source. So, they are regarded as the most important innovations of this new millennium. New application possibilities, from energy storage to lighter, more resistant materials for aeronautics to the creation of water purification solutions, are likely to rise in relevance. It will happen in the future years as a result of advances in nanotechnology and nano-sciences.

Nanotechnology Market is valued at USD 1409.3 Million in 2020 and is expected to reach USD 2963.1 Million by 2027 with the CAGR of 11.2% over the forecast period. (Source)

The first national nanotechnology initiative launched in 2003 by President George W. Bush to provide financing for research and development in this subject sparked a global political debate on nanotechnology. The United States has positioned itself at the vanguard of the burgeoning revolution by adopting this approach.

Types of Nanotechnology: What Do They Encompass?

Some believe that the advent of nanotechnology marks the beginning of the second industrial revolution. It is one that might have far-reaching consequences for all of humanity. The chemical and physical properties of materials on a nanoscale differ considerably from those found at a larger scale or in more complex configurations. It makes molecular nanotechnology an ideal tool for studying, mastering, and manipulating matter at the nanoscale.

There occurred a convergence of these technologies with biotechnology, communication science, synthetic biology, information technology, and cognitive science. So, it is now possible for humans to manipulate matter at the tiniest of scales.

Also Read: Excited About Quantum Computing? Here’s How It Works?

Nanotechnology: Manipulating Choices for The New Techs

The OECD describes nanotechnology as “a collection of technologies for manipulating, investigating, or exploiting objects and systems of very tiny scale.” It is despite the fact that there is no commonly agreed definition of the term (most often less than 100 nanometers).

  • It is possible to find natural nanomaterials as well as man-made nanomaterials, which are materials smaller than one nanometer. For example, volcanic ash, clouds, clay, smoke from forest fires, and sea salt generated by the evaporation of seawater sprayed on the ocean’s surface are examples of the first kind of sulfur.
  • There is a wide range of nanoparticles that have been produced and made by humans. Its enormous surface area and high activity make it stand out from other materials. It also tends to aggregate and may be utilized for an extraordinarily wide range of applications, making it an excellent choice for catalytic applications.

Carbon Black

Carbon black, a microscopic particle of elemental carbon is one of the most commonly used nanomaterials on the market today. Printing inks, toner, and polymers, as well as protective coatings, are some of the many uses for this chemical. After diamond and graphite, they are known as fullerenes and have a unique structure made of 60 carbon atoms in the form of a geodesic dome. For example, they may be used to deliver and administer drugs as well as employ optical tools.

On an ethical level, nanomaterials and nanotechnologies are being debated intensively. It is since little is known about their interactions with the human body in terms of toxicity and cancer at this point. Because of this, it’s difficult to forecast how long it will take for the long-term effects to show up because of the present testing. The lack of knowledge of nanotechnology is one of the reasons for the specific laws to govern its use.


Nanotechnology requires specialized expertise and precise biomedical equipment that may not always be readily available. So the use of this technology in healthcare systems may be time-consuming and expensive. So, how many individuals may benefit if we were to develop nanomedicines to cure or alleviate illness? If so, will the general public be able to access them? There is a lot of debate over how soon these technologies will be used by the healthcare industry. How many countries can we expect? When it comes to nanotechnology, some people may have unreasonable expectations.