Smart nanomaterials also called intelligent or responsive materials and are designed materials with one or more properties, which can be changed by external stimuli such as moisture, stress, light, Ph, electric, or magnetic fields. Because of their diverse and novel properties, smart nanomaterials have a varied range of potential applications in industries such as healthcare, automotive, electronics, and construction.

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Smart nanomaterials can occur naturally, can be produced purposefully through engineering, or be created as the by-products of combustion reactions. Smart nanomaterials have gained prominence in technological advancements owing to their unique physical, chemical, and biological properties, including altered magnetic properties, increased structural integrity and altered optical or electrical activity. Owing to various features, smart nanomaterials span across multiple industries. Smart nanomaterials are revolutionizing several manufacturing sectors, including medicine, energy, electronics, transportation, environment, and defense. Nanomaterials, for example, carbon nanotubes are being used in 3D printers.

The smart nanomaterial is biomimetic with distinctive properties to be utilized in drug delivery and self-healing diagnostic. Nearly all of the research on smart nanomaterials in the pharmaceutical sector is restricted to lab scale. However, research on an industrial scale is being carried out by several companies or in collaboration. Apart from industry players, several prominent players from other industries are eager to invest in the technology to achieve profit potential over the coming years.

Growing population with increasing awareness regarding health issues has led to increases in the use of smart nanomaterials in the healthcare sector. Smart nanomaterials are mainly used in the healthcare industry for disease diagnosis, screening technologies, body implants, medical devices, and dental filling materials, among others. The increasing demand and application of smart nanomaterials in the healthcare industry are continually increasing, especially in nanomedicine. In addition, increasing demand for reduced exhaust engines and improved fuel efficiency, automotive manufacturers have increased the usage of carbon nanotubes and nanofibers for the manufacture of the lightweight engine and their components. The nanoscale products in the automotive industry include thermoelectric materials for temperature controls, high-power rechargeable battery systems, thin-film smart solar panels, tires with lower rolling resistance, and fuel additives for cleaner exhaust and extended range.

The growing end-use industries and increased government support and funding for R&D have led to the surging demand for nano-products, which, in turn, have positively affected the existing market for smart nanomaterials. Massive investment by government and federal agencies to cut down carbon dioxide emissions is further propelling the growth of smart nanomaterials. However, expensive synthesis technology, coupled with a lack of skilled professionals, are some of the critical factors that are restraining the growth of smart nanomaterials.

The global smart nanomaterials market is expected to grow at a significant rate during the forecast period. The rising number of end-user industries that are opting for nanotechnology has led to the surging demand for smart nanomaterials. Furthermore, the technological advancements in the regions of emerging economies have propelled the market scenario for energy storage systems that are boosting the growth opportunities of the smart nanomaterials market.

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The rapid pace of advancements in the field of nanotechnology has headed to advances in various industries, especially healthcare, where further research is being carried out for the growth of more advanced material for numerous disease diagnoses. Over the last decade, the synthesis of smart nanomaterials has witnessed significant progress. Owing to their advanced properties and widespread usage, smart nanomaterials, such as carbon-metal nanohybrids, graphene structures, stimuli-responsive polymeric materials, among others, have gained a considerable amount of importance over the last few years.

Nearly all the research on smart nanomaterials in the medical analysis is restricted to lab scale. However, on a commercial scale, several companies are carrying out extensive research. For instance, Abbott, a leading pharmaceutical company, is developing next-generation glucose-sensing technologies for diabetes care. Thus, with the growing developments, the smart nanomaterial is likely to be the material of choice for use in various end-use industries and would play a vital role in the next-generation medical technologies and devices.

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