The global market for Gold Nanoparticles is projected to reach US$8.8 billion by the year 2027, trailing a post COVID-19 CAGR of 12.1%, over the analysis period 2020 through 2027. While industrial applications are experiencing a downturn, healthcare applications are witnessing growth in the year 2020 supported by increased interest in gold nanoparticles in managing the pandemic in terms of infection detection and treatment. Gold nanoparticles (AuNPs) have a diameter of 1 to 100 nm & can be dispersed in water to form colloidal gold. Reactive oxygen species (ROS) generated by gold nanoparticles helps intensify the oxidative stress of microbial cells, making them effective antimicrobial solutions. Easy synthesis of AuNPs is a key reason for their growing popularity as one of tools in fighting COVID-19. Researchers are studying AuNPs intensively to unlock their potential for both quick diagnosis of viral RNA & developing effective therapies. Herbal gold nanoparticles (AuNPs) derived using plant extracts are growing in popularity for their effectiveness, non-toxicity & eco-friendliness. Recent studies have indicated that nanotechnology can play a major role in the development of a COVID-19 vaccine. Currently, extensive research is underway to develop COVID-19 vaccine based on different nanoparticles. Scientists have been able to synthesize virus-like particles as nanovesicles through the use of insect cells. While these nanoparticles are devoid of the virus genome, they share a lot of similarity with the coronavirus. Upon entering inside the host's cells, these nanoparticles can facilitate in restoring the immune system for combating the COVID-19 infection. Carbon quantum dots (CQDs) and gold nanoparticles have emerged as two of the most ideal options for enabling interactions with the viruses and preventing them from entering the cells. CQDs have an average diameter of 10 nm and are soluble in water, making them an ideal candidate for fighting against COVID-19. CQDs can easily enter the host cell by endocytosis and subsequently interact with the protein of the virus, thereby preventing the replication of the viral genome.

Scientists at the University of Maryland School of Medicine have recently developed a new, cost-effective experimental diagnostic test for rapidly and visually detecting the presence of COVID-19 virus. The test utilizes a simple assay containing a liquid mixed with plasmonic gold nanoparticles that are attached to a highly-specific molecule for detecting COVID-19 protein. The saliva sample or nasal swab obtained from a patient is mixed with the assay for detecting any color change in the solution. Gold nanoparticles change the color of the solution from purple to deep blue to indicate the presence of COVID-19 proteins. One of the biggest benefits of this test is that it does not require trained personnel or advanced laboratory methods for running the tests and analyzing the results. The test offers high reliability in detecting the virus, indicating that there are no false negative or false positive results with this test. In addition, in contrast to several other diagnostic tests available in the market that can detect the coronavirus only many days of infection, this new test can be utilized for detecting the virus even on the first day of infection. The test can be potentially used in work places, college campuses, nursing homes, and daycare centers as a surveillance method for monitoring any fresh outbreaks of COVID-19 infections.

With virtually all industrial end-use sectors now caught in the financial storm raised by the COVID-19 pandemic, market prospects for nanotechnology in industrial applications is expected to remain bleak for the full-year 2020. COVID-19 has evolved from a biological phenomenon into a social and economic crisis. To curb the pandemic, governments have and continue to impose strict lockdowns and ban on all non-essential business operations, thus bringing all economic activity to a virtual halt. Aviation, transportation, hotel, and tourism industry are collapsing. The energy sector is feeling the painful blow of drastic declines in energy consumption as a result of shuttered factories, offices and commercial establishments. With the Wuhan virus spreading to over 140 countries worldwide, virtually every country's economy is severely disrupted as governments firefight to contain the virus. Governments are beefing up emergency budgets for healthcare, sanitation and social security to fight the pandemic. The shutdown has disrupted economic activities in a manner hitherto unimagined and the human cost of the pandemic is continuing to grow and is expected to deal an unprecedented blow to economies worldwide. As businesses struggle to keep afloat, job cuts and bankruptcies are expected to rise sending millions into unemployment. Unemployment rates are climbing to worrisome levels in both developed and developing economies alike. With unemployment rates rising amid the virus induced economic crisis, consumers are cutting spending budgets. Social outlook against this background remains grim with households expected witness erosion in wealth. Personal financial outlook, community, economy, job security confidence, purchasing and investment confidence are all tumbling as the human and economic cost of the global pandemic rises.