Market Size of Nano Biosensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nano Biosensors Market Analysis
The nano-biosensors market is expected to register a CAGR of 10%, during the forecast period 2021-2026. Continuous development in nanotechnology tools and gaining insights into nanoscale phenomena are expected to be crucial for improving the performance of existing nanosensors and support researchers in the development of nanosensors based on innovative mechanisms.
- The market studied has witnessed important innovations and developments in the field of nanotechnology, recently. Major factors influencing the market studied are the quality of research that companies can access, the availability of sources of finance, and supportive policy frameworks, particularly in the healthcare, and food & beverage sector.
- The healthcare segment is expected to account for a significant share of the market studied, over the forecast period. Expansion in these segments can be attributed to the use of nanosensors in medical diagnostics to detect cancers or as blood-borne sensors.
- Also, with the increasing significance of intelligent packaging, the adoption of nanosensors is expected to witness a considerable growth. The use of nanotechnology, nano minerals, and nanosensors in the agri-food sector, including feed and nutrient components, intelligent packaging, and quick detection systems, may create opportunities of improvements in the agricultural sector.
- Nano biosensors are emerging as promising tools for the applications in the agriculture and food production. They offer significant improvements in selectivity, speed, and sensitivity, compared to traditional chemical and biological methods. Nano biosensors can be used for determination of microbes, contaminants, pollutants, and food freshness. The nano biosensors used in food analyses combine knowledge of biology, chemistry, and nanotechnology and may also be called nano biosensors.
- With the outbreak of COVID-19, the nanosensors market will witness a significant increase in demand due to the increasing requirement of testing, tracing, and tracking the virus. The fact that the diagnostic lab needs many capabilities to test up to thousands of samples per day. For instance, in July 2020, MIT engineers had developed a nanoparticle sensor system, which can detect and monitor lung diseases by measuring compounds exhaled in the breath.
