New Delhi . A report has revealed that the use of nanotechnology is increasing in the health sector for detection of diseases, delivery of medicines and medical imaging.
Nanotechnology is improving electronic devices in the technology sector, helping to move towards advanced computing.
Nanotechnology can transform many industries. This includes sustainable materials, environmental improvements, fast electronics and new treatments. GlobalData's report showed that the health and technology sectors are at the forefront of innovation.
“The business use of nanotechnology varies across sectors. It depends on a number of factors. The first factor is the amount of investment in research and development in each sector,” said Isabelle AlDahir, principal analyst of thematic intelligence at GlobalData. Industries such as technology and healthcare have seen rapid commercial adoption due to greater investment.”
“The complexities and regulatory barriers associated with bringing nanotechnology products to market, as well as mixed consumer perceptions of nanotechnology products in food and consumer goods, may also impact rates of commercial use,” he added.
Regulatory approval (a system of rules and guidelines) is necessary to bring advanced technologies such as nanotechnology to the market.
“Technology in nanotechnology is advancing very rapidly. It has outpaced the development of regulatory frameworks,” AlDahir said.
Additionally, the report also notes that more research is being done on the potential risks and benefits of nanotechnology, making it more challenging for regulators to set appropriate guidelines without sufficient scientific evidence.
Despite the challenges, America, China and some countries of the European Union are investing heavily in nanotechnology to gain an edge in the global market.
Countries that have invested heavily in nanotechnology believe that it can promote economic development while also solving important societal challenges.
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Image Credit: KhasKhabar.