Chemical Sensor Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

The chemical sensor market was valued at USD 21.39 billion in 2019, and is expected to reach a value of USD 32.96 billion by 2025, at a CAGR of 7.51% during the forecast period (2020-2025). The rising levels of pollution have supported the demand for chemical sensors.

Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-

AirTest Technologies Inc., Smiths Detection Inc., General Electric Co., Hans Turck GmbH & Co. KG, Honeywell International Inc., MSA Safety Incorporated, Pepperl+Fuchs Group, SenseAir AB, SICK AG, Siemens AG, ABB Ltd, Spectris PLC, Halma PLC, Denso Corporation, Owlstone Inc.

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- Applicability of sensors in analyzing the chemical composition of different samples is influencing the adoption of chemical sensors. Chemical sensing array and higher order orthogonal sensors are significant trends in the global market. The low-cost and portable nature of chemical sensors are expected to fuel the growth of the market.
- Among the 7.6 billion population of the world, the geriatric population accounted for 962.3 million. Due to the aging population and their vulnerability to diseases, the increasing rate of occurrence of diseases is expected to increase drastically. This creates a demand for chemical sensors, as they are used for several clinical applications, such as blood glucose or blood gas measurements.
- Recently, in February 2018, the Korea Advanced Institute of Science and Technology (KAIST) developed chemical nanosensors that rapidly analyze the components of exhaled breath to detect trace molecules associated with certain diseases.
- Apart from the environmental concerns, the use of chemical sensors for analytes in the chemical industrial process is also integrating into the market. The defense sector, research labs, and healthcare operation are utilizing sensors as advanced tools, which are in turn driving the market.
- Additionally, owing to factors, such as high maintenance, the requirement of air-conditioned shelter rooms, frequent recalibration, and accuracy issues with interfering gases, traditional gas sensors have become less reliable in measuring low concentration gases in the oil and gas industries.

Scope Of the Report

Chemical sensors are devices that transform the chemical information into an analytically useful signal. These devices are used in sensing and detecting parameters across various industries, such as medical diagnosis and treatment, oil and gas sector, the precision engineering industry, etc.

Medical Industry to Register the Fastest Growth

- The healthcare and the biomedical sector is a major market for chemical sensors, owing to the increasing demand for rapid, compact, accurate, and portable diagnostic sensing systems. Moreover, nanotechnology has dramatically changed the operating characteristics of chemical sensors and is gaining prominence in the market. There have been advances in the field of in vitro sensors for diagnostics with a few products about to be launched in the near future. Point-of-care diagnostics are also possible with chemical nanosensors.
- The rising demand for the next generation of clinical diagnostic, measuring and monitoring sensors for applications in implantable and wearable devices, have created opportunities with exponential growth potential. Lower raw material costs and the advent of nano and microfabrication techniques within the industrial manufacturing process have led to a substantial increase in the commercialization of chemical sensors for healthcare applications.
- Moreover, with the increasing rates of patients suffering from diabetes, government bodies in various countries are investing in developing effective diagnostic techniques. For instance, the Ministry of Health Labour and Welfare (MHLW) in Japan granted national reimbursement for the FreeStyle Libre glucose monitoring system in August 2017. The revolutionary system was aimed to be widely available to more than a million Japanese nationals aged six and above with diabetes. This stimulated the chemical sensors adoption in the healthcare sector.

Asia-Pacific to Emerge as the Fastest Growing Market with a Significant Growth Rate

The concerning pollution levels in China, India, and other Asia-Pacific countries are driving the demand for chemical sensors. Low prices, flexible applications, and speedy technological implementations are fuelling the demand for chemical sensors in the Asia-Pacific market. The chemical sensors market forecast appears promising, owing to the increasing usage of chemical sensors in the industrial safety operations and environmental monitoring programs.

Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America) 
Middle East & Africa

Recent key developments in the area are:

- June 2018 - Honeywell introduced a new connected gas detector that possessed a leak detection feature, thereby protecting the workers and facilities against deadly toxic and explosive gas leaks.

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Major points covered in this research are:-  

─Chemical Sensor Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2025), Competition by Manufacturers

─Global Market Size (Value) of Chemical Sensor (2019-2025)

─Global Chemical Sensor Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)

─Global Chemical Sensor Production, Revenue (Value), Price Trend by Type

─Global Chemical Sensor Market Analysis by Application

─Global Chemical Sensor Manufacturers Profiles/Analysis

─Chemical Sensor Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Global Chemical Sensor Market Forecast (2019-2025)

─Competitive Landscape

─Research Findings and Conclusion

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Finally, this Chemical Sensor report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Chemical Sensor product development and gives an outline of the potential Global market.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.