Europe Nano Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts ( 2(2022 - 2027)

Market Overview

The European nanosensor market is expected to grow at a CAGR of 63.28% over the forecast period 2021 - 2026. The low cost and compact size, eco-friendly nature, and bulk manufacturing capability are the key drivers of the market. The development of new applications for technologies that utilize nano and micro technology will help the market grow. Increased R&D in the sensor industry is creating opportunities for technological advancements that open up new horizons for sensor applications.

• The major trends driving Europe’s nanosensors market are miniaturization and improved communication capabilities, enabling their integration into vehicles without interfering with the basic functionalities of the vehicle. Europe’s automotive sensors market has experienced important developments over the past decade, resulting in a wide variety of innovative and technologically superior products.
• There has been an increase in demand for a variety of sensors to perform a multitude of functions as vehicles have become more complex over the last five years. Continued growth is anticipated for this market, propelled by enhanced demand for greater driver information, tighter safety controls, and more sophisticated engine management systems to improve fuel economy and reduce emissions. Europe’s nanosensors market mostly consists of large global corporations with a few small market participants.
• The high rate of development for new treatment methods, medical equipment, and protocols in the region are boosting the European healthcare industry to grow significantly. The increasing government expenditure in healthcare is further estimated to develop the market for nanosensors in the region.
• Also, the European Union has agreed to bolster the ailing European defense industry by allocating EUR 500 million in 2019 and 2020 to the European Defence Industrial Development Programme, and the extensive use of nanosensors in this industry is expected to create demand for nanosensors in the region.

Scope of the report

Europe’s nanosensors market is segmented on the basis of Type (Optical Sensor, Electrochemical Sensor, Electromechanical Sensor), and End-User ( Consumer Electronics, Power Generation, Automotive, Aerospace and Defense, Healthcare, Industrial).

This report gives a detailed study of Porter’s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. The report also covers the market landscape of these players, which includes the key growth strategies and competition analysis.

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Key Market Trends

Electrochemical biological nano sensors and photometric biological nano sensors find significant demand

• These sensors are used to monitor various biological processes, antigen bodies, and interactions between various biological agents, etc. Nanotubes are used in such sensors and proteins, or any other bodies bind themselves to the nanotubes, indicating a change.
• The various measuring attributes include Antigen/antibody interaction, DNA interaction, and enzymatic interaction, among others. The benefits offered by these sensors include rapid and simultaneous detection of numerous biological parameters, high selectivity, and high sensitivity.
• The use of these biological nanosensors has been highly beneficial in detecting lung cancer, asthma attacks, various kinds of viruses related to influenza, parasites, malaria, among others. With increased commercialization, the demand for these types of nanosensors is also expected to grow in the market.
• Biological nanosensors are also used in military applications for detecting harmful biological agents. Many countries have been increasingly investing in the manufacturing of such sensors due to the increasing threat of biological warfare.

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