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Global Chemical Sensors Market to Grow at 6.93% During 2022-2027, Fostered by Expanding Applications in Healthcare Sector

Published on Sep 04, 2019

According to the latest report by IMARC Group, titled “Chemical Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global chemical sensors market reached a value of US$ 21.3 Billion in 2021. 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.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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 expected to grow at a CAGR of 6.93% during 2022-2027.

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); 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 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., AirTest Technologies Inc., Hans Turck GmbH & Co. KG, General Electric, Thermo Fisher Scientific, Bayer, 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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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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