Global Chemical Sensors Market Is Boosted by Necessity of Accuracy in Diagnosis in Healthcare Sector
Added: (Wed Sep 13 2017)
Pressbox (Press Release) -
Global Chemical Sensors Market Report, published by Variant Market Research, forecast that the global market was valued at $15 billion in 2016 and expected to reach $23 billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. In geographical segments, Asia Pacific and RoW anticipated to grow at a fastest CAGR of 6.4% and 5.8%, respectively, over the forecast period 2016 – 2024.
Driving factors of the global chemical sensors market are necessity of accuracy in diagnosis in healthcare sector, increasing use of semiconductor chemical sensors, growing use of chemical sensors in environmental monitoring, and increased demand for dissolved gas sensors for aquaculture industry. However, declining automobile emission testing may hamper the market growth. Moreover, low-priced, portable & wearable chemical sensor devices, and untapped markets would unfold attractive business opportunities for the market in the coming years.
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The global chemical sensors market has been categorized into type, end-user and geography. The type segment includes optical sensor, electrochemical, catalytic bead and others. End-user segment includes medical, automobile, oil & gas, industrial, environment monitoring, and others. In the end-user segment, in 2016, environmental monitoring is projected to dominate the market with fastest CAGR during the forecast period 2016-2024, due to increasing energy usage and unnecessary release of pollutants which has led to bigger focus on advanced monitoring technologies for environmental protection, remediation and restoration.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. In 2016, North America held the major market share of 36% followed by Asia-Pacific with market share of 27.7%. However, Asia Pacific is predicted to grow at a fastest CAGR over the forecast period 2016-2024, due to the adoption of advanced technologies and increasing automotive and healthcare sector.
The major key players operating in chemical sensors market comprises Siemens AG, BASF SE, Honeywell International Inc., Emerson Electric Company, Bosch GmbH, General Electric, Delphi Automotive Plc, Thermo Fisher Scientific, Abbott Laboratories, and AAB Group, among others.
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Scope of Chemical Sensors Market
• Catalytic Bead
• Optical Sensor
• Oil & Gas
• Environment Monitoring
• North America
o South Korea
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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