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Chemical Sensor Market 2019 – Growth Analysis by Industry Size, Share, Latest Updates, Opportunities, Investment Cost and Forecast to 2024

Chemical

The “Chemical Sensor Market” report 2019 provides information for market players, stakeholders, investors, and business strategists to achieve a leading position the market. It maintains the record of Unusual growth strategies adopted by various companies are creating new standards for competition in the global Chemical Sensor market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of prevailing regulatory scenario on both regional and worldwide Chemical Sensor market is provided in detail in the report.

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Chemical Sensor Market Covers Key Players:

  • 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.

    Market Overview:

  • The chemical sensor market was valued at USD 19.90 billion in 2018, and is expected to reach a value of USD 30.66 billion by 2024, at a CAGR of 7.51% during the forecast period (2019 – 2024). The rising levels of pollution have supported the demand for chemical sensors.
  • – 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.

    Report Highlights:

    • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
    • Market forecasts till 2024, using estimated market values as the base numbers
    • Key market trends across the business segments, Regions and Countries
    • Key developments and strategies observed in the market
    • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
    • In-depth company profiles of key players and upcoming prominent players
    • Growth prospects among the emerging nations through 2024
    • Chemical Sensor Market opportunities and recommendations for new investments

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    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.

    Key Market Trends:

    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.

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    Detailed TOC of Chemical Sensor Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Forces Analysis
    4.2.1 Bargaining Power of Suppliers
    4.2.2 Bargaining Power of Buyers/Consumers
    4.2.3 Threat of New Entrants
    4.2.4 Threat of Substitute Products
    4.2.5 Intensity of Competitive Rivalry
    4.3 Introduction to Market Drivers and Restraints
    4.4 Market Drivers
    4.4.1 Growing Developments in Miniaturised and Portable Electrochemical Sensors
    4.4.2 Increased Adoption from Automotive and Healthcare Sector
    4.5 Market Restraints
    4.5.1 Stringent Performance Requirements for Advanced Sensor Application challenge the Market Growth
    4.6 Technology Snapshot

    5 MARKET SEGMENTATION
    5.1 By Product Type
    5.1.1 Electrochemical
    5.1.2 Optical
    5.1.3 Pallister/Catalytic Bead
    5.1.4 Other Product Types
    5.2 By Application
    5.2.1 Industrial
    5.2.2 Medical
    5.2.3 Environmental Monitoring
    5.2.4 Defense and Homeland Security
    5.2.5 Other Applications
    5.3 Geography
    5.3.1 North America
    5.3.2 Europe
    5.3.3 Asia-Pacific
    5.3.4 Latin America
    5.3.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 AirTest Technologies Inc.
    6.1.2 Smiths Detection Inc.
    6.1.3 General Electric Co.
    6.1.4 Hans Turck GmbH & Co. KG
    6.1.5 Honeywell International Inc.
    6.1.6 MSA Safety Incorporated
    6.1.7 Pepperl+Fuchs Group
    6.1.8 SenseAir AB
    6.1.9 SICK AG
    6.1.10 Siemens AG
    6.1.11 ABB Ltd
    6.1.12 Spectris PLC
    6.1.13 Halma PLC
    6.1.14 Denso Corporation
    6.1.15 Owlstone Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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