Market Trends of APAC Nano Sensors Industry
This section covers the major market trends shaping the APAC Nano Sensors Market according to our research experts:
The electrochemical segment is expected to command prominent share over the forecasted period
- Chemical nanosensors measure the concentration and composition of a particular chemical and provide the desired effect. Carbon nanotubes are used in such sensors to absorb or adsorb, depending on the technique used, to detect the chemical changes.
- The measuring attributes include chemical composition and bonding and molecular-level concentration, among others. The benefits of these sensors include high sensitivity, high selectivity, high adsorption, and larger surface area coverage. Growing demand for point-of-care devices is expected to act as a driver for the chemical sensors, as these devices offer an attractive option in this field due to their small footprint and potential for high sensitivity. Oil and gas and petrochemical industries are highly dependent on such devices to ensure a safe environment for the conduction of operations.
- In the food industry, chemical nanosensors have versatile applications with an array of electrode types being used to detect compounds, like Sulfite in sugar, grapes, wine, and water. Thus, the demand for these sensors is expected to increase as various industries, such as chemicals, release pollutants and chemicals as waste, which further increases the need for monitoring solutions.
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Growing spending in healthcare is expected to augment the demand for nano sensors
- The biomedical and biomedical sector is the largest initial market for nanosensors in the Asia Pacific region, owing to a growing requirement for rapid, accurate, compact, and portable diagnostic sensing systems. Nanosensors have the capabilities to address this requirement.
- Moreover, nanosensors and nano-enabled integrated systems are expected to be used in large populations in the near future for preliminary diagnosis or screening. The increasing spending on healthcare treatments is also aiding the market in growing significantly.
- In addition to this, the growing healthcare travel towards the Asia Pacific from regions such as North America and Europe is further fueling demand for innovative healthcare solutions. The price parity of healthcare is augmenting the growth of healthcare tourism; for instance, according to the Malaysia Healthcare Travel Council, a coronary artery bypass graft which would cost about USD 92,000 in the United States costs less than USD 10,000 in India.
- Various material development and technology research are underway in the region, which is expected to propel the market demand. For instance, in June 2021, a research team from the Shanghai Advanced Research Institute of the Chinese Academy of Sciences reported a novel flexible piezoresistive sensor with graphene-PDMS (polydimethylsiloxane) microspheres for microstructure perception.
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