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May 16th, 2005
Nano World: Nanomagnet future bright
Nanomagnets have not received nearly the industry attention that nanoelectronics or nanobiotechnology have, but their potential makes them very attractive.
The global market for nanomagnetic devices and materials totaled roughly $4.3 billion in 2004, and could reach nearly $12 billion in 2009.
"What's amazing about nanomagnetics is that applications of the technology run the gamut from literally decades-old products, such as magnetic fluids used for industrial sealing applications, to futuristic high-tech uses that are likely years from commercialization, such as agents for killing tumor cells," said Mindy Rittner, a scientific adviser in the Chicago office of intellectual property law firm Brinks Hofer Gilson & Lione.
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