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Commercialization of New and Emerging Nanotechnology-based Products: Opportunities and Challenges

Aditya M. Rai, D.Y. Chacharkar, Rafael Marinho Bandeira

Nanotechnology is emerging with great impact and it has revolutionized all the important fields like agriculture (nanofertilizers, nanonutrients, nanofungicides, nanoinsectides, etc), medicine (diagnosis, drug delivery, and therapy), electronics, cosmetics, etc. It has tremendous potential and it is being treated as one of the sixth enabling technologies. The research being carried out in the laboratory is now reaching the hands of end-users. However, there are some hindrances to the development of products and their commercialization. Usually, government funding is provided to the researchers in academic institutions, but the products developed by companies need to reach the market. The technology is expanding at a fast pace. The global nanotech-based market was estimated to increase from $1,055.1 million in 2018 to $2,231.4 million in 2025