Global Chemical Sensors Market Trends, Demand and Business Opportunities 2024
by Rahul Rastogi Market Research AnalystAccording to the latest report by IMARC Group, titled “Chemical
Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and
Forecast 2019-2024”, the global chemical sensors market size is expanding
at a moderate rate. Chemical sensors transform chemical information, such as
concentration, composition, partial pressure and presence of an ion, into an
analytical signal. They generally contain two components, which include a
physicochemical transducer and a chemical recognition system (receptor). In
most sensors, the receptor interacts with analyte molecules which alters its
physical properties in such a manner that the appending transducer can acquire
an electrical signal. Chemical sensors offer various advantages like small
size, affordability, and automatic measurement.
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Global Chemical Sensors Market Trends:
As chemical sensors are portable and cost-effective, they
are widely used in the healthcare sector for analyzing the chemical composition
of different samples. They are employed in fertility systems and for diagnosing
cancer, renal failure, and alcohol and drug abuse. Moreover, the increasing
prevalence of diabetes is positively influencing the demand for these sensors
as they are used in blood sugar testing strips in portable glucose monitors.
Furthermore, the growing geriatric population and their vulnerability to
different diseases are spurring the demand for chemical sensors around the
world. Additionally, continuous developments in the miniaturization of sensors
and actuators, owing to enhancements in micromachining, microelectronics and
packaging, has resulted in the introduction of new generation sensors. On
account of these factors, the market is anticipated to grow at a CAGR of around
6% during the forecast period (2019-2024).
Market Summary:
·
Based on the product type, the market has been
classified into electrochemical (potentiometric, amperometric and
conductometric), optical (infrared, photoionization and others),
pellistor/catalytic bead, semiconductor and others. At present, electrochemical
represents the most preferred product segment around the world.
·
On the basis of the analyte, the market has been
divided into solid, liquid and gas.
·
The market has been classified on the basis of
the application into industrial (motor vehicles, food and beverage processing,
and HVAC systems); environmental monitoring (industrial safety and emissions,
water and wastewater, and automotive emissions testing); medical (clinical
diagnostics and nutritional); defense and homeland security; and others.
Amongst these, the industrial sector accounts for the majority of the total chemical sensors market
share.
·
Region-wise, North America represents the
largest market. Other major segments include Asia Pacific, Europe, Latin
America, and Middle East and Africa.
·
The competitive landscape of the market has been
examined with some of the key players being Smiths Detection Inc., ATI Airtest
Technologies Inc. and Hans Turck GmbH & Co. KG, General Electric Company
(GE), Thermo Fisher Scientific Inc., Bayer, Mine Safety Appliances (MSA) Safety
Incorporated, Honeywell International Inc., Pepperl+Fuchs Group, SICK AG,
Siemens AG, ABB Ltd., SenseAir AB, Spectris PLC, Denso Corporation, Halma Plc
and Owlstone Inc.
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Created on Sep 17th 2019 06:40. Viewed 434 times.