New York, United States , Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Global Electrochemical Sensors Market Size is to Grow from USD 10.38 Billion in 2023 to USD 23.25 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.40% during the projected period.
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Electrochemical sensors are used to detect and quantify chemical compounds by converting the substance's concentration into an electrical signal. These sensors often incorporate redox reactions at the electrode surface, which are based on electrochemical principles. They are widely used in a wide range of industries, including environmental monitoring, medical diagnostics, industrial process control, and food safety. Due to their various advantages, such as their high sensitivity, affordability, and real-time monitoring capabilities, these sensors are widely utilized. When it comes to glucose testing, electrochemical sensors are the most widely used and heavily advertised type. This section includes sensors that are both enzymatic and nonenzymatic. Electrochemical sensors are becoming increasingly common to evaluate air and water quality because of the increasing awareness of environmental contamination and the requirement for real-time monitoring. The industry is growing as a result of stricter government laws requiring the use of electrochemical sensors in industrial settings for worker safety and emission control. The market demand for these sensors is being driven by the expanding use of electrochemical sensors in healthcare, specifically in glucose monitoring for the treatment of diabetes. However, the temperature of the sample is usually required to stay consistent because the sensors are temperature-sensitive. This indicates that the interior temperature of the sensors is regularly changed.
Browse key industry insights spread across 213 pages with 110 Market data tables and figures & charts from the report on the "Global Electrochemical Sensors Market Size, Share, and COVID-19 Impact Analysis, By Type (Conductometric Sensors, Potentiometric Sensors, Amperometric Sensors), By Product (Humidity Sensor, Nitrogen Oxide Sensor, Hydrogen Sulfide Gas Sensor, Sulfur Dioxide Sensor, and Others), By Application (Healthcare, Agriculture, Food & Beverage, Veterinary), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The potentiometric segment is anticipated to hold the greatest share of the global electrochemical sensors market during the projected timeframe.
On the basis of type, the global electrochemical sensors market is divided into conductometric sensors, potentiometric sensors, and amperometric sensors. Among these, the potentiometric segment is anticipated to hold the greatest share of the global electrochemical sensors market during the projected timeframe. Current diagnostic techniques are necessary, and developments in microfabrication techniques have produced sensitive, precise, and useful electrochemical sensors for use in clinical assessment. To produce medical innovations, research and development expenditures amount to billions of dollars.
The humidity sensor segment is anticipated to grow at the fastest pace in the global electrochemical sensors market during the projected timeframe.
On the basis of product, the global electrochemical sensors market is divided into humidity sensors, nitrogen oxide sensors, hydrogen sulfide gas sensors, sulfur dioxide sensors, and others. Among these, the humidity sensor segment is anticipated to grow at the fastest pace in the global electrochemical sensors market during the projected timeframe. Many countries, particularly in urban areas, have poor air quality as a result of the world's growing industrialization. Nitrogen oxides, sulfur oxides, hydrogen sulfide, and other volatile organic compounds are the main contributors to air pollution and pose a risk to human health.
The healthcare segment is predicted to grow at the highest pace in the electrochemical sensors market during the estimated period.
On the basis of application, the global electrochemical sensors market is divided into healthcare, agriculture, food & beverage, and veterinary. Among these, the healthcare segment is predicted to grow at the highest pace in the electrochemical sensors market during the estimated period. Electrochemical sensors have applications in blood gas analyzers, glucose meters, cholesterol testers, and other healthcare equipment.
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North America is expected to hold the largest share of the global electrochemical sensors market over the forecast period.
North America is expected to hold the largest share of the global electrochemical sensors market over the forecast period. The region's increasing demand is primarily due to growing R&D activity in the automotive, building automation, biomedical, and other sectors. The market is expected to grow during the forecast period as a result of speedy technical advancements, such as the introduction of compact diagnostic equipment that offers accurate and timely results and the growing uptake of electronic medical records (EMR).
Asia Pacific is predicted to grow at the fastest pace in the global electrochemical sensors market during the projected timeframe. The International Diabetes Federation and The Lancet predict that 101 million people worldwide or 11.4% of the population will have diabetes in 2023. Additionally, the leading cause of death in India is cardiovascular disease. Thus, the increasing prevalence of diabetes and cardiovascular diseases is expected to increase India's demand for electrochemical biosensors.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global electrochemical sensors market include Thermo Fisher Scientific, Inc., Conductive Technologies Inc., Abbott, Dexcom, Inc., F. Hoffmann-La Roche AG, Ascensia Diabetes Care., Siemens Healthineers, Zimmer & Peacock AS, Metrohm AG, SGX Sensortech Ltd, Ametek Inc., Figaro USA Inc., Dragerwerk AG, Alphasense, and others.
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Recent Developments
- In February 2023, DexCom, Inc. launched the Dexcom G7 Continuous Glucose Monitoring (CGM) System in the U.S. The company has introduced the CGM system through a Super Bowl commercial starring Nick Jonas, who is suffering from diabetes. The commercial was expected to be watched by over 4.8 million diabetic U.S. individuals, of which 3.3 million were not using CGM and 2.3 million had CGM coverage.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electrochemical sensors market based on the below-mentioned segments:
Global Electrochemical Sensors Market, By Type
- Conductometric Sensors
- Potentiometric Sensors
- Amperometric Sensors
Global Electrochemical Sensors Market, By Product
- Humidity Sensor
- Nitrogen Oxide Sensor
- Hydrogen Sulfide Gas Sensor
- Sulfur Dioxide Sensor
- Others
Global Electrochemical Sensors Market, By Application
- Healthcare
- Agriculture
- Food & Beverage
- Veterinary
Global Electrochemical Sensors Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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