Nano Magnetics is different from conventional magnetic systems but possesses magnetic properties owing to the nano-structural alignment of particles. Nanomagnets exhibit instantaneous magnetic behavior at zero applied magnetic fields. The small size of nanomagnets avoids the formation of magnetic domains.In particular low temperatures, nanomagnets exhibit quantum behavior which is widely used for high-resolution imaging purposes in the characterization of materials and cellular imaging in healthcare sectors.
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Market Dynamics
Increasing demand for nanotechnology, the need for energy-efficient devices, and the growth of the medical industry are the key factors responsible for boosting the Nano magnetics market.The growing global energy demand is posing a significant problem for the governments of the world in managing energy consumption and power generation rates.Owing to the rapidly growing primary energy consumption by the countries of the world, the need for developing energy-efficient devices is rising, and this is expected to drive the global Nano magnetics market in the future.High investment requirements for R&D of nanomagnetic devices, high prices, a shortage of knowledge of advanced manufacturing processes of nanomagnetic devices, and availability of skilled labor and engineers are the crucial aspects that are hampering the global nano magnetics market.
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Segment Analysis
The Global Nano Magnetics Market is segmented by type of product, application, and geography.Based on the type of product, the market is segmented as Sensors, Imaging, Data Storage, medical and genetics, and others. The medical and genetics sector is the dominant segment of the global Nano Magnetics Market owing to the increasing applications in the Healthcare Industry.Advancements in the biomedical industry have led to the development of Nanoscale diagnostic devices which help in sensing the vital statistics of the body at an accurate level. Nano magnetics are widely adopted in peripheral artery diseases and surgical procedures. Nanomagnetic devices are also used in drug delivery systems and the diagnosis of devices like cancer.
Competitive Landscape
The report profiles the following companies Samsung Electronics, IBM Corp, Intel Corp, Fujitsu Labs, Novanta, Amkor Technology, Quantum Design, Bayer Schering Pharma AG, LG Electronics, and Hitachi.
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