Global Nano Biosensors Market - Segmented by Type (Optical Sensor, Electrochemical, Acoustic), End-user Industry (Healthcare, Consumer electronics, Food and Beverage, Aerospace and Defense) and Region - Growth, Trends, and Forecast (2018 - 2023)
The global nano biosensors market is expected to register a rate of 9.95%, during the forecast period. The scope of the report is limited to segments by type, such as optical sensor, electrochemical sensor, acoustic sensor, and the end user industries are limited to healthcare, consumer applications, food & beverage, aerospace & defense. While the regions considered in the scope of the report include North America, Europe, Asia pacific, Middle East & Africa, and Latin America.
Continuous Innovation towards Nano Technologies is Driving the Market
Despite the economic stagnancy in most of the regions, advanced technologies have always been the driving force of new opportunities and further development. Constant R&D on new technologies, namely nanotechnology, can bring market advantage for innovative companies. Continuous development in nanotechnology tools and gaining insights into nanoscale phenomena are expected to be crucial for improving performance of existing nanosensors and support researchers in the development of nanosensors based on innovative mechanisms.
Healthcare has a Major Market Share
The growth of the segments can be primarily attributed to the use of nanosensors in medical diagnostics to detect cancers, or as blood-borne sensors. Furthermore, with the rising significance of intelligent packaging, adoption of nanosensors is expected to witness a considerable increase. Nanotechnology, nanominerals, and nanosensors in the agri-food sector, including feed and nutrient components, intelligent packaging, and quick detection systems, can be seen as the new sources of key improvements in the agricultural sector. Nanosensors are in high demand in the homeland security and military industries as they are used for the detection of radiations and biotoxins. They also have benefited the military by helping in the development of advanced warfield gear, such as lighter vehicles and self-repairing tents.
North American Region is expected to dominate the Market
Owing to consistent innovations and investments in R&D of nanosensors to appeal to a wide consumer base, and have led to several technological advancements in this market. However, the Asia-Pacific region is expected to record growth with the highest CAGR, due to the improved therapies that are based on nanosensors. China is expected to lead this extraordinary growth in Asia-Pacific, due to ongoing technological up gradation in the healthcare and biomedical segments.
Key Developments in the Market