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China is gearing itself to becoming a scientific superpower, owing to the immense increase in its expenditure on research fields like nanotechnology and the return of its scientists from abroad.
Nanotechnology is gaining huge interest and investments in China. In the next twenty years, nanoscience is anticipated to bring about radical changes in nerve and tissue repair, pharmaceuticals, IT, catalysts, surface coatings, pollution control and sensors.
A study by a principal British analyst reports that funding in global research in 2004 was around US$ 8.6 Billion and is still growing. The investments made in 2004 are already giving remarkable results. China is at third position (after US and Japan) as far as the amount of nanoscience publications are concerned. Also, it stands strongly at second slot in the sub-field nanomaterials.
However, experts cautioned that the inflexible institutional system of China could obstruct its long-term progress. Fears of lack of transparency, problems of regulatory enforcement, and need of big amounts of funding for scientists who are under constant pressure to yield results are looming over China and can result in ethical shortcuts. Critics argue that human rights are not sufficiently respected in China, leading to skeptical research practices.
Also, the dominance of US and Europe in scientific innovations can't be ignored now. Funding of and investments into science and innovation projects in China is increasing rapidly and is creating ripples in international community.
According to the RNCOS report, "The World Nanotechnology Market (2006)", the nanotechnology and products market in China was at US$ 5.4 Billion in 2005 and is expected to chalk up to US$ 31.4 Billion by 2010 and US$ 144.9 Billion by 2015. The sales in China are largely restricted to domestic market, but the escalating global interest in nanotechnology development and with the advent of modern communication facilities, this sector is going to churn out huge profits for the investors.
The market research report also addresses the following facts and issues:
- Global outlook of nanotechnology market
- Industry performance (industry expenditure, patent market and national policies for nanotechnology)
- Product and application-wise analysis
- Country-wise evaluation of the market
- Growth factors
- Opportunities and challenges
- Recent developments in the industry
- Snapshots of the key players
The report gives extensive research and rational analysis on the world nanotechnology market and helps clients in careful evaluation of prospects for the success of the industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
Current Industry News: http://www.rncos.com/blog
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