Europe Nano Sensors Market Size
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
*Disclaimer: Major Players sorted in no particular order
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Europe Nano Sensors Market Analysis
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.
Europe Nano Sensors Market Trends
This section covers the major market trends shaping the Europe Nano Sensors Market according to our research experts:
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.
Healthcare industry is expected to fuel the growth of nano sensors over the forecasted period
- Europe is among the top markets when it comes to the healthcare industry, and the growing adoption of technology in the sector is expected further to augment the demand for nanosensors in the region.
- Various monitoring and data collection devices are being incorporated into the healthcare industry with a growing focus on developing solutions. For example, in September 2021, Nanowear, a leading hospital-at-home and remote diagnostic platform, announced that it received its third FDA 510(k) clearance and first software-only clearance as an end-to-end digital platform enabling Nanowear to implement standalone AI and deep learning algorithms that will inform remote diagnoses as Software-as-a-Medical Device (SaMD).
- The growing number of health ailments combined with the aging population is augmenting the demand for innovative solutions. For instance, Germany had the highest prevalence of diabetes in Europe among their adult population, with 15.3% living with diabetes in 2019, Portugal followed with the second-highest share at 14.2%. On the other hand, Ireland was the country with the lowest prevalence of diabetes in Europe at 4.4%.
- Since the outbreak of the Covid-19, the demand for remote monitoring and consultations has grown in the region, along with growth in the number of people using technology for healthcare.
Europe Nano Sensors Industry Overview
The nanosensor market is consolidated, with a few major players occupying the prominent share of the market with their innovative product offerings-companies such as Analog Devices, Omron, STMicroelectronics, and others.
- Jul 2021 - Omron's contribution to reducing the carbon footprint in society by improving energy efficiency and suppressing the heat, the company introduced the "G9KA" low-temperature high power PCB relay, which improves the power generation efficiency of PV systems by reducing energy losses generated by air conditioners, electricity, and solar systems.
Europe Nano Sensors Market Leaders
Analog Devices Inc
Lockheed Martin Corporation
Honeywell International Inc
Texas Instruments Incorporated
*Disclaimer: Major Players sorted in no particular order
Europe Nano Sensors Market News
- September 2021 - The EPSRC (Engineering and Physical Sciences Research Council) has awarded GBP 853,000 to the University to create the Multiscale Metrology Suite (MMS) for Next-Generation Health Nanotechnologies.
Europe Nano Sensors Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing adoption of technology in healthcare industry
4.2.2 Increasing research and development in innovative materials
4.3 Market Restraints
4.3.1 Complexity in Manufacturing Nanosensors
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Optical Sensor
5.1.2 Electrochemical Sensor
5.1.3 Electromechanical Sensor
5.2 By End-User Industry
5.2.1 Consumer Electronics
5.2.2 Power Generation
5.2.4 Aerospace and Defense
5.2.7 Other End-User Industries
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Analog Devices Inc
6.1.2 OMRON Corporation
6.1.3 Lockheed Martin Corporation
6.1.4 Honeywell International Inc.
6.1.5 Texas Instruments Incorporated
6.1.7 Samsung Electronics co Limited
6.1.8 Teledyne Technologies
6.1.9 Agilent Technologies
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Nano Sensors Market Research FAQs
What is the current Europe Nano Sensors Market size?
The Europe Nano Sensors Market is projected to register a CAGR of 63.28% during the forecast period (2024-2029)
Who are the key players in Europe Nano Sensors Market?
Analog Devices Inc, OMRON Corporation, Lockheed Martin Corporation, Honeywell International Inc and Texas Instruments Incorporated are the major companies operating in the Europe Nano Sensors Market.
What years does this Europe Nano Sensors Market cover?
The report covers the Europe Nano Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Nano Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Nano Sensors Industry Report
Statistics for the 2024 Europe Nano Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Nano Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.