The use of nanotechnology increasing in the health sector

New Delhi| A report has revealed that the use of nanotechnology for detection of diseases, delivery of medicines and medical imaging is increasing in the health sector. 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 commercial use of nanotechnology varies across regions”, said Isabelle al-Dahir, principal analyst of Thematic Intelligence at GlobalData. It depends on many factors. The first factor is how much investment is made for research and development in each sector. Industries such as technology and health have seen rapid business use due to greater investment.”

“The complexities and regulatory barriers associated with bringing nanotechnology products to market, as well as consumers’ mixed perceptions of nanotechnology products in food and consumer goods, can also affect the rate of merchandise use”, he adds. Regulatory approval (a system of rules and guidelines) is necessary to bring advanced technologies like nanotechnology to market.

“Technology in nanotechnology is advancing very fast”, Al-Dahir said. It has outstripped the development of regulatory frameworks.” Additionally, the report also revealed that further research is still being conducted on the potential risks and benefits of nanotechnology, as it makes it more challenging for regulators to set appropriate guidelines without adequate scientific evidence.

Despite the challenges, the US, China and some EU countries are investing heavily in nanotechnology to gain global market advantage. Countries investing heavily in nanotechnology believe that it can boost economic growth as well as address important social challenges.