Market Size of Molecular Robotics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Molecular Robotics Market Analysis
The molecular robotics market is expected to witness a CAGR of 18% over the forecast period.
After the outbreak of COVID-19, all markets were significantly affected due to supply chain disruptions. However, research and development were increased to find potential treatments for the COVID-19 infection. The demand for research and development in molecular robotics has increased because it can enable fast and smart treatment options by changing molecules. Many research studies have been conducted to find better patient care and treatment options. In an article published in the British Medical Journal in August 2021, it was mentioned that researchers developed a robotic nucleic acid extraction method for high-throughput detection of SARS-CoV-2 RNA in saliva samples. More research and studies have also been done to find a cure for COVID-19. These research and studies have created a demand for molecular robots and have had a positive impact on the market under review. However, currently, the market is growing at a stable pace owing to rising research and development activities, and it is expected to witness a similar trend over the coming years.
The high prevalence of chronic diseases such as cancer and other rare diseases and increased use in drug development are the major driving factors for the molecular robotics market. For instance, according to the Breast Cancer Factsheet Now 2021, around 55,000 women and 370 men in the United Kingdom are diagnosed with breast cancer every year. This figure is expected to climb to 1.2 million by 2030. This rising incidence of cancer leads to increased demand for advanced technology. As molecular robots can read, edit, and alter DNA and RNA, which can create new structures to find a cure for cancer-like diseases, the demand for these molecular robots is increasing, which is expected to lead to the growth of the market during the forecast period.
As research and development have been on the rise lately, laboratory automation is becoming a need to maintain a smooth workflow. Molecular robots are designed using advanced technologies to minimize the pressure of learning new software and other equipment, helping scientists increase the overall efficiency of their laboratories and accelerate next-generation research. In July 2022, Researchers created new DNA motors that can sense and process chemical information, allowing them to respond quickly and mimic some fundamental properties of living cells. With new research producing the first DNA-based motors that combine computational power with the ability to burn fuel and move in an intentional direction, the inspiration for miniature molecular robots is rising exponentially. This is expected to gain demand and boost the growth of the studied market during the forecast period.
However, the high cost of development and design of these molecular robots is expected to restrain the growth of the market over the studied forecast period.
