— Latest update: January 2023 —
When it comes to the global market, nanotechnology has had a significant impact as an innovative and informative technology across a variety of industrial sectors, including healthcare, energy, transportation, materials, manufacturing, and consumer products. Key players focus on strategies such as product launches, innovations, and M&A to maintain themselves in fierce competition. The growth of the nanotechnology market is due to the increasing adoption of nanotechnology in medical diagnostics and image processing, as well as technological advances in nanotechnology devices.
In addition, government support, increased R&D funding, expenditure rose with 2.6% in 2021 to 19.74 trillion yen. The emergence of self-powered nanotechnology devices are expected to drive market growth. Furthermore, the government hopes to achieve an R&D investment of 30 trillion yen on their part and a combined investment with the private sector of 120 trillion yen.
Japan’s strengths in the nanotechnology market relies mostly in the field of materials in basic and applied research. This is due to its long engagement of many years with the research of materials, bringing to light inventions like Neodymium magnets, lithiumion batteries, blue LEDs, photocatalysts, and carbon fibers. While Japan used to have global dominance in the electronics industry in the past, today the market lives through a downward trend due to the increasing global competition. However, Japan remains active in the nanotechnology field through the identification of present and future issues and challenges in a rapidly changing world.