Assessing the nanotechnology on the grounds of costs, benefits, and risks

Abstract

Background: The technical innovations are based on the principles of science with the assurance of outweighing their cost and risk factors with the benefits to society. But sometimes, the innovation either itself becomes a risk or brings in some risk factors along with it. For most of the alleyway of an innovation from its emergence to its road to societal acceptance and adoption, the focus remains on the benefits majorly. Only when we are at the neck of the hour we think about some of the apparent cost and risk issues. The understanding, proper communication, and address of the basics of risk factors are necessarily required much in advance to deal with this issue. Main body: Nanoparticles with very small size and huge surface area are being derived from various plants, microbes, chemical compounds, metals, and metal alloys. Without our realizations, nanotechnology has become a vital part of our day-to-day life, and nanoparticles are proving their worth in almost every field ranging from food, water, medicine, agriculture, construction, fashion, electronics, and computers to eco-remediation, but what about the costs involved and the risks associated? We strongly need to recognize these concerns and challenges, and it requires collaborative efforts from academicians, researchers, industries, government, and non-government organizations to involve people in dialogs to deal with them. Conclusion: Through reviewing various studies and articles on nanotechnology, this review has shown that nanotechnology can productively be used to produce consumer goods for pharma, electronics, food, agriculture, aviation, construction, security, and remediation sectors which are advantages in their characteristics. Regarding the future of nanotechnology, we need to focus on assessment and management of risks associated for its promising market growth. Graphical abstract: [Figure not available: see fulltext.]