Global Nanosensors Market size is valued at USD 592.4 Million in 2021 and is expected to reach USD 1245.6 Million by 2028 with a CAGR of 11.2% over the forecast period.
Global Nanosensors Market Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Growing use of nanosensors for different purposes, and soaring mindfulness regarding nanosensors are some of the major factors driving the growth of the Global Nanosensor Market.
Nanotechnology deals with the chemical or physical properties of matter at the nanoscale, which can be dissimilar from their bulk properties. A nanosensor is one of the outstanding examples of nanotechnology which is known as a device that is capable of carrying data and evidence regarding the behavior and characteristics at the nanoscale level to the macroscopic level of nanoparticles. Most definitions denote a detecting device with at least one of its dimensions being smaller than 100 nm. For the purpose of collecting information on the nanoscale and shifting it into data for analysis, it is broadly used in several industries. Significant characteristics and quality parameters of nanosensors can hence be developed over the case of characteristically modeled sensors with merely condensed sensing parts and/or the transducer.
Covid-19 has spread hastily to almost 200 countries and has harshly affected public health and the economies of states at unprecedented levels. To detect the new coronavirus, nanosensors are hugely playing a vital role and are dynamically effective. At this scale, novel nanosensors display properties and performances unnoticed at the macroscopic level, particularly for spotting and sensing events at a nanoscale level. Therefore, the demand for nanosensors is enhanced during the pandemic which further added value for the nanosensors market.
Global Nanosensors Market is segmented into type, applications, and region & country level. On the basis of types, the global nanosensors market is divided into optical sensors, electrochemical sensors, electromechanical sensors, and others. Based on applications, the global nanosensors market is divided into electronics, chemical manufacturing, aerospace & defence, energy, healthcare, and others.
The regions covered in this global Nanosensors Market report are Asia-Pacific, North America, Europe, and the Rest of the World. Based on a country level, the market of global Nanosensors is subdivided into the U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, Southeast Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players for global Nanosensors are:
On October 6th, 2021; the trusted technology realization partner, SkyWater Technology, and a privately held medical device company named NanoDx, Inc. developed a breakthrough, point-of-care diagnostic solutions had announced the technology transfer for qualification and manufacture ramp of nanoscale sensors to improve and enlarge precise, fast testing for numerous indications, counting Covid-19, sepsis, traumatic brain injury (TBI), and stroke.
On July 15th, 2021; NanoDx contracted a licensing agreement with IBM Research to use the latter’s metal-oxide semi-conductive compatible nanoscale sensors to increase and prolong specific, speedy testing for numerous indications.
On June 22nd, 2021; Onconano Medicine Inc. upraised about USD 50 million in series B financing to hasten the drive of its technology intended to diagnose and treat cancer with great specificity. The biotech company’s nanosensor works by reacting to low pH and lightens cancer like a lightbulb, distinguishing cancerous tissues from healthy tissue.
Ages of investments in nanotechnology have made the world in subsequent to progress nanosensors for diverse applications. The businesses using nanosensors grip utmost prospective for future profitability in nanosensors which comprises surveillance, military, security, food management, environmental monitoring, construction, energy storage, internet of things, transportation, and robotics. Growing uses of nanosensors for different purposes is one of the major factors driving the market growth globally. For instance; a microchip nanosensor detects stress hormone from a drop of blood. The technology could deliver a replacement for bulky and expensive lab tests for hormones and permit patients to display their stress levels more simply. Withal, nanosensors are used to recognize precisely the cancerous cells in order to transport the medicine. Not only these, but nanosensors are used to sense the humidity of the soil, nutrient requirement, pesticide residue, and crop pest identification. Such uses of nanosensors in various industries supplement its demand all across the globe and generate lucrative opportunities in the future.
Additionally, soaring mindfulness regarding nanosensors is another factor contributing to making the nanosensor market more rewarding worldwide. Along with growing technologies and new innovations, nanosensor has become one of the hottest and most attractive topics for long period. This is why; several organizations are investing their valuable time and money in nanosensors. For example; the U.S. National Nano Sensor Initiative projected that about 20,000 researchers are functioning in the field of nanosensors. In addition, for the UK, the Institute of Occupational Medicine has projected that roughly 2,000 people are employed in new nanosensor businesses and universities where they may be hypothetically exposed to nanoparticles. In spite of the aforementioned organizations, many other businesses or firms are also showing their consideration towards nanosensors. This has eventually enhanced the overall production of nanosensors among a number of market players. As a consequence, hugely augmenting consciousness regarding nanosensors is flourishing the market value worldwide.
Besides from above optimistic factors, the lack of awareness of the industry about the governance of nanosensor technologies may hamper the market growth all over the globe. In spite of that, an upsurge in support and R&D funding from government organizations and the appearance of self-powered nanotech devices are anticipated to deal with worthwhile opportunities for the further growth of the global nanosensors market.
On a geographical basis, North America is expected to dominate the global nanosensors market owing to the huge presence of leading market players in the region. The technological history of the U.S. defines the emergence of the U.S. as one of the most technologically progressive nations in the world. Agilent Technologies, Inc., Honeywell International Inc., Texas Instruments, and many more companies from the U.S. are generating new innovations in nanosensors for enhancing their cash flow. For example; Analog Devices Inc. announced a strategic collaboration with Pinpoint Science in the San Francisco Bay area, to improve the growth and manufacture of novel nanosensor diagnostics on 25th February 2020. To boot, as per the U.S. Department of Agriculture, researchers from International Space University have used nanotechnology to build a sensor that can identify organophosphates at levels 40 times smaller. All the above evidence clearly establishes the demand for nanosensors in this region and booming the nanosensor market in North America.
The Asia Pacific region is expected to show a marvelous growth in the nanosensors market over the forecast period with a healthy CAGR. The growing demand for successful disease detection techniques and the expanding use of nanosensors amongst several end-user industries are improving the global nanosensors market growth in this region. As per the study of Brandessence Market Research Analyst, around 227 million people live with type 2 diabetes and more than half of them are undiagnosed and unaware of improving long-term complications. Moreover, nanosensors play an important role in diabetes treatment as these sensors are more flexible and highly sensitive than the traditional ones. Therefore, this factor is enthusiastically fostering the growth of the nanosensors market in the Asia Pacific.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 592.4 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 1245.6 Million|
|Tables, Charts & Figures:||175|
|Nanosensor Companies||Agilent Technologies, Inc., Analog Devices, Inc., Applied Nanotech, Bruker Corporation, Nanodevices Inc., Honeywell International Inc., Evident Technologies, Kleindiek Nanotechnik GmbH, Omron Corp., Lockheed Martin Corp., Texas Instruments, others|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|