Report Estimates Steep Rise in Demand for Chemical Sensors

According to a report published in Reportlinker, the market for chemical sensors in the US is estimated to rise by 8.6% each year, amounting to about $6 billion in 2014.

A Sustained markets for biosensors has seen a drop in prices. More compact sensors are being developed for multi-applications.

Post the recession, the automobile industry is bouncing back with new demands for integrated sensor systems that can track oxygen levels as well as carbon emissions. Increased awareness of environment issues will lead to a steady growth in gas sensors until the year 2014. Other areas for the use of biosensors are in detecting greenhouse gases.

By the year 2014, the demand for biosensors is estimated to shoot up to $5.5 billion. Blood glucose sensors are increasingly in demand across the US where most diabetics prefer to monitor their diagnostics at home. Such sensors provide accurate and quick information about varied medical problems including those related to heart ailments and infectious diseases without having to visit a physician for time consuming tests. Another major medical area is using sensors to detect cancer at the initial stages. Other sensors will also be used increasingly in the fields of clean environments, clean energy, solar infrastructure and wind farms.