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Wednesday, 13th May 2009 (1088 views)

The nanotechnology sector is set to continue expanding over the next five years, a new report has suggested.

Conducted by industry research firm RNCOS, the Nanotechnology Market Forecast to 2013 study suggested that the value of the market will grow from $14.5 billion (£9.56 billion) in 2009 to over $30 billion in 2013.

Nanotechnology - which often involves the use of gold - has a number of practical applications, the publication noted, with healthcare, transportation, agriculture and energy all set to benefit from future developments in the field.

"Increasing usage of nanotechnology across these sectors will result in rampant growth in the global nanotechnology market over the forecast period," an analyst at the research company stated.

Research and development funding is also rising as firms look for ways to commercialise the technology, the analyst remarked.

Earlier this month, scientists at the University of Central Florida revealed that they have used gold nanoparticles as part of a new technique that seeks out cancer cells, BioOptics World reports.

 

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