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Evaluation of impacts and developments of nanotechnology During the past quarter of century nanotechnology is one of most commonly known and developing science in the world. Sobolev (2005 p. 14) asserts that nanotechnology is the next industrial revolutionary science, which leads physics, chemistry and biology scientist to control and manipulate matter at extremely small scale, even at the level of molecules and atoms. Sahoo (2006 p. 1) defines nanotechnology as a science of manipulation, characterization and fabrication of materials, devices and structures, which have at least one imension, that is roughly 1-100 nm. When sizes of particles of different components are reduced below this threshold the material obtained exhibit chemical and physical properties that are significantly different compared with macroscale materials composed of the same materials. This essay will investigate and evaluate the societal effects and future scientific implementations for development of nanotechnology, followed by economical impacts and issues with it.

Scientists and industry stakeholders have determined potential applications of nanotechnology in different segments of industry. o Duncan (2011), several observations indicate that food industry is one of the most common applications of NT. Notwithstanding the fact that it is utilized in agriculture in order to provide soil with pesticide, fertilizer and vaccine, and detect plant and animal pathogen, also apply engineering principles for genetics of crops, the most frequent implication of nanotechnology in food nanoscience research and development is packaging.

For instance, pathogen, gas or abuse sensors, anticounterfeiting devices, UV protection and more retentive polymer films were used for packaging, thus, he storage of food becomes innocuous because food is better protected from dirt and dust, oxygen, pathogenic microorganisms, light and variety of other harmful and destructive substances. Moreover, Ferrari (2005) has stressed that, another urgent application of nanotechnology is cancer NT, examples of such nano-technologies for treatment of breast cancer include injectable delivery (nanovectors) of liposomes.

In contrast with simple devices, NT suggests circumspect ways of cacer therapy by delivering therapeutic agents without any side effects and with minimal or concurrent oss of life quality. In spite of the fact that nanotechnology products facilitate life of society, they prevail some obstructions. As Handy (2007) points out, scientific community and policy makers are keen to avoid the situation of public boycott, because of the food products containing manufactured nanomaterials.

For instance, there is strict regulatory’ control of export and import Of food into European union and in the 0K, but it does not include nanomaterials. On the other hand it is difficult to protect individual consumers with such legislation, such as society members privately purchase ood products via internet. Consequently, society and government are not aware enough about nanotechnology and its future benefits and impact on food industry and consumption.

In case of food packaging, the contamination of food with nanomaterials depend partly on environmental quality and whether nanomaterials can lead to pollution of agricultural land, as well as the usage of nanomaterials in farming. Nanoingredients such as vitamins and minerals are being developed for animal feeds, however nanomaterials are not currently used for this. From the perspectives of toxicology, clearance of anomaterials from the edible parts of animal and the probability of metabolism of nanomaterials would be essential.

This will inform farmers and regulators about how much time is needed for agricultural/farming use of nanomaterials and the harvest/slaughter of life stock in order to reduce unwanted nanomaterials in the food products. There seems to be no compelling reason to argue that another drawback of nanotechnology products is extremely high price of it. Sahoo (2007) states that medical devices, as products of nanotechnology require huge amounts of investments. For example, in 2000 President Clinton established the National

Nanotechnology Initiative (NNI) in order to build manufacture medical nano- device, this program of creating medical devices in nanoscale, cost $1 billion in fiscal year 2005, compared to $464 million in 2001. Thereby, the investment needed for development of nano-medicine is dramatically increasing annually, and not every corporation of scientist can afford this type of research without huge interest and support of society. Further development of nanotech nology is inevitable and obligatory process due to the succeeding reasons.

First of all there is an urgent demand of society for nanotechnology roducts and interest of scientists. According to Sobolev (2005), nanotechnology has changed and will keep changing abilities, vision and expectations of people to control the matter of the world. Roco (2003) assumes that there is a closed loop among the nanotechnology science, its applications and societal implications. Government should support the worldwide nanotechnology research and development and try to involve population and companies to invest in NT.

In order to attract attention of society, media and publishers have to work hard, and acknowledge people about nanotechnology, its development and newest inventions. Previously society has to be informed about this particular realm of science by means of reliable sources such as scientific journals and articles, in all details including drawbacks and advantages of NT. Horton (2006) clams that, nanotechnology is becoming worldwide, and the general predictions is that over the next decade medical and biological applications of NT will form the greatest sector of expansion, in order to invent drastic solutions of unmet medical need.

By means of nanotechnology products scientist are able to reduce toxicity and improve efficiency of drugs and design individual optimal treatment of isease. London Centre for Nanotechnology (LCN) has involved in interdisciplinary research collaboration, communities from different parts of UK and Europe were agreed to invest in London Centre for Nanotechnology, and keep partnership with LCN as it is described in Fig 2 above. Furthermore, Helwegen (2006, p. 21 5) emphasizes that research and development of nanotechnology requires enormous amounts of investments in the future.

State of investments in nanotechnology in the past has reached S 18. 2 billion in 2008, as government was interested in renewable sources of energy, and ountries such as United States, Germany, Russia, South Korea and China made significant profit from this. NT activities in the energy, environment and medical sectors in 2008 were founded by 29% of government investment, 13% of cooperative spending and 41 % venture capital, nevertheless it made an indentation in total nanotech emerging revenue, amounting about 0. %, which is $876 million of the the total amount in 2007, or $57 billion of the total in 2005. Evidently, companies cannot attract the brilliant minds and top talents that will investigate and invent new technological products and ervices, without financial supports of government and society. Figure 2 LCN is integrated into a number of UK and European-based nanotechnology networks and works closely with industrial partners Moreover, this will lead to establishment of new low-cost, point-of-care clinical diagnostic techniques.

On the other hand, concurrent application of NT is food packaging Duncan (2011 ) reckons that silver nanoparticles and nanocomposities were used as antimicrobial food packaging materials. In Russian MIR space station and on NASA space shutters, these mechanisms were used in order to save food and avoid the process of putrefy of food. Silver nanoparticles have become reductant of food supply for spaceships. Beyond food applications, silver has been used as an antiseptic and antimicrobial.

NASA has been investing in this area of nanotechnology, endeavours of scientists along with this has resulted with solution of nutrition of astronauts in spaceships. Nanotechnology has revolutionized areas of science and has begun to influence, and be influenced by society and economy, if government evaluates the importance and future perspectives of nanotechnology in accurate way, it will improve the economy and life quality of society.

Hullmann (2006) argues that nanotech nology applied by scientists as well as journalists, research managers, policy makers, investors and pressure groups, therefore it is expected to have a substantial impact on the world’s economy, and an appropriate indicator for its significance are market volumes. Market forecasts of nanotechnology originate from 2000 till 201 5, probably the best known figure for development of nanotechnology market has been published by National Science Foundation (NFS) in the US in 2001, and its prediction was 1 trillion US Dollars for a world market Of NT products n 2015.

Many other forecasts vary between 150 billion in 2010, and 2. 6 trillion in 2014, depending on the contribution and definition of nanotechnology and added value of final product, considering the degree of optimism. The last and most optimistic scenario implies that market of nanotechnology-based products will exceed prospected communication and information technology, as well as biotech market by ten times.

This study draws on research conducted by Malanowski (2007), that is illustrated in Fig 2 which implies that the span of published market figures about anotechnology range from 900 million USD for the world market volume nanomaterials in 2005 to one trillion USD as it was mentioned before, for the world market volume of nanotechnologically-influenced products in 2005. It is undeniable fact that patents are very valuable and important for competitiveness be?een companies (ibid, p. 1812). Evaluation of patent applications over several years reaffirms the repeat of extremely dynamic progress of nanotechnology.

The number of applications for patent has doubled during the last five years, and each patent means a new invention, so he development of nanotechnology is promptly increasing. In this connection, market costs of nanotechnology will rise and as a result this leads to more effective innovations in science of nanotechnology. Figure 2: Outline of markets and forecasts for nanotechnology In conclusion, there is an immense demand for nanotechnology products in different realms of life such as medicine, nutrition and so forth.

Nanotechnology facilitates life of people for instance, it can save lives by providing latest equipment for injection of drugs without damaging other parts of human. Besides, applications of nanotechnology in food industry rovide more qualitative and hygienic food. This kind of urgent need of society will not stop because people start to realize and notice the role of nanotechnology in their lives, so science of nanotechnology has to continue its development and expenditure for society.

In order to provide improvement and inspire scientists to make deep investigations in this realm, society should be aware of nanotechnology and its benefits, the acceptance and perception of people should be established in positive way by media, government and other reliable communities or cooperation. Investments of overnment and other interested communities are substantial for further development and research projects, by means of money educated, talented brains can be involved into this realm of science.

Issues with nanotechnology such as position of society and high prices can be solved consecutively, if society completely accept and comprehend the importance of nano-science and Start to invest in it. Investments will lead to rapid development, which will result with newest innovations and more qualitative production. Moreover, attention and interest of society are also the most crucial points of evelopment of NT science, because it will lead inspiration of scientist and an urgent demand of society.

Scientist will realize the predictions about NT in next decades, and quality of structure of each matter will be improved at atomic and molecular level by means of modern technology.

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