(MENAFN- America News Hour)Kenneth Research has recently added a report titled Chemical Sensors market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Chemical Sensors market is further anticipated to grow with a CAGR of 5.5% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Chemical Sensors Market is estimated to reach $23 billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. A chemical sensor is an analyzer that transforms chemical information into an analytically electric signal. The information may initiate from the chemical reaction caused by biomaterial, chemical compound or by combination of both. A chemical sensor basically consists of two functional components such as a receptor and a transducer. Some may even include a separator. In the last few years, it has gained immense attention for applications in environmental monitoring, gas composition analysis, defense & public security and many others. Moreover, growing R & D has led to the emergence of microchemical sensor and its array which is anticipated to enter a new era.
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Expanding use of semiconductor chemical sensors and increasing demand for dissolved gas sensors for aquaculture industry fuel the growth of the global chemical sensors market. Additionally, rising use of chemical sensors in environmental monitoring and defense sectors coupled with need for accuracy in diagnosis in healthcare sector also support the growth of the market. Portable and wearable chemical sensor devices market along with untapped markets would provide market opportunities in the coming years. However, decreasing automobile emission testing may hamper the growth of the market.
Type, end-user and geography are the key segments of the global chemical sensors market. Type segment includes catalytic bead, optical sensor, electrochemical, and others. Furthermore, by end-use industry, it can be segmented into automobile, oil & gas, medical, industrial, environment monitoring, and others.
The global chemical sensors market by geography is bifurcated into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, Italy, France and others. Asia-Pacific covers China, Japan, India, South Korea and others. RoW covers South America, Middle East and Africa.
The Key market players include BASF SE, Honeywell International Inc., Siemens AG, General Electric, Emerson Electric Company, Bosch GmbH, ABB Group, Delphi Automotive Plc, Thermo Fisher Scientific and Abbott Laboratories, among others.
The key takeaways from the report:
The report will provide detailed analysis of Chemical Sensors Market with respect to major segments such as type and end-user
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Chemical Sensors Market has been provided in the report.
Profile of the key players of the Chemical Sensors Market, will be provided, which include key financials, product & services, new developments and business strategies.
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Scope of Chemical Sensors Market
Type Segments
Catalytic Bead
Electrochemical
Optical Sensor
Others
End-User Segments
Medical
Oil & Gas
Industrial
Automobile
Environment Monitoring
Others
Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Germany
Italy
France
Others
Asia-Pacific
China
Japan
India
South Korea
Others
RoW
South America
Middle East
Africa
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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