Freedonia Market Research Analyzes Chemical Sensor Industry

US demand for chemical sensors is projected to grow 7.6 percent per year to $5.4 billion in 2012.  Biosensors will continue to be the largest type of chemical sensor, as the increasing number of diagnosed diabetics boosts demand for glucose test strips.  Overall growth will also be supported by technological advances that allow for price reduction, sensor miniaturization and greater precision, all of which will expand the use of chemical sensors into new markets, as well as new applications within existing markets.  Demand for chemical sensors based on emerging technologies, such as optical sensors, will see the fastest gains.  The biggest market will remain the medical market, but growth will be strong in all chemical sensor outlets, which also include industrial and environmental monitoring applications. These and other trends, including market share and company profiles, are presented in Chemical Sensors, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

Through 2012, biosensors -- glucose test strips in particular -- are expected to provide the best opportunities, boosted by the aging population and growing demand for home and point-of-care testing and monitoring tools.  While the development of multianalyte sensors and the use of biosensors in high-density arrays will also support demand, biosensors used outside of medical applications will continue to face considerable challenges from other existing detection and measurement methodologies.  Optical sensors -- including products based on infrared, fiber optic, photoionization, fluorescence, chemiluminescence, light-emitting diode, laser and ultraviolet technologies -- will see the fastest gains of all sensor types.  Optical sensors will continue to benefit from their high sensitivity, stability, immunity to interference and product improvements such as smaller size and enhanced ruggedness.

The medical market will grow the fastest, and therefore will remain the largest market by far for chemical sensors.  Demand for blood glucose test strips will continue to see strong gains.  However, fierce competition among suppliers will put downward pressure on prices as manufacturers strive to capture or maintain market share.  The large automotive sensor market will also post favorable growth, due to a rebound in motor vehicle production and the introduction of new sensor applications such as cabin air quality control.  The development of lower-cost, more durable and higher-performance chemical sensors will drive demand in other markets such as process industries, water and wastewater monitoring, as well as homeland security. 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.