Market Trends of Optical Chemical Sensor Industry
This section covers the major market trends shaping the Optical Chemical Sensor Market according to our research experts:
Medical Sector to Witness High Growth
- The rising demand for the next generation of clinical diagnostics, measuring and monitoring sensors for applications in implantable and wearable devices have created huge opportunities with exponential growth potential for the market.
- Chemical sensing array and higher order orthogonal sensors are significant trends in the global market. Particularly in bio-sensing, advancements in micro fluids, and imaging technology are the primary driving factors of optical chemical sensors market.
- With less raw material usage and the emergence of nano and microfabrication techniques within the industrial manufacturing process have led to a substantial increase in the commercialization of optical chemical sensors for healthcare applications and is expected to stay steady during the forecast period.
- With the increasing R&D expenditure by industry players in the medical technology, it is expected to drive the market for optical medical sensors forward.
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North America Occupies a Significant Share in the Market
- Owing to the rising healthcare expenditure and the increasing incidence of diseases in this region, the United States is expected to contribute significantly to the optical chemical sensors and biosensors market. This is owing to the miniaturization, the carbon-nanotube-based optical sensor can detect a specific protein found on the membrane of chronic myeloid leukemia cells.
- Additionally, optical chemical (gas) sensors provide a good alternative over the conventional conductometric gas sensors. They are found to be highly sensitive with a very fast response towards a wide concentration range (0.5 to 100 ppm) of CO gas at room temperature and hence creates the way for the commercial application of an efficient optical CO gas sensor.
- Moreover, the US government has introduced mandatory regulations to compel the adoption of CO gas leak detector in every house. The awareness campaign about the harmful effects of poisonous carbon monoxide (CO) through the national fire protection association (NFPA) and the US Consumer Product Safety Commission (CPSC) is further driving the growth of the market.
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