Portland, Feb. 27, 2020 (GLOBE NEWSWIRE) -- According to the report, the global nanosensors market garnered $536.6 million in 2018, and is expected to generate $1.32 billion by 2026, growing at a CAGR of 11.0% from 2019 to 2026. The report offers a detailed analysis of changing market dynamics, key market players, top winning strategies, business performance, and competitive scenario.
Surge in adoption of nanosensors for medical diagnosis along with advancements in technologies in nanotech devices drive the growth of the global nanosensors market. However, the concerns related to implementation of nanosensors in extreme weather conditions and expensive deployment of technology hamper the market growth. Contrarily, surge in government support & funding and advent of self-powered nanotech devices would provide new opportunities in coming years.
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Based on type, the biosensor segment accounted for the highest share in 2018, contributing to more than one-fourth of the total market share, owing to surge in automation implementation in the healthcare sector that utilizes biosensors for medical imaging and medical diagnosis. However, the optical nanosensor segment is estimated to grow at the highest CAGR of 12.9% throughout the forecast period, owing to widened scope of applications for optical nanosensor in electronics devices and systems.
Based on application, the aerospace & defense segment is expected to grow at the fastest CAGR of 17.2% during the forecast period, owing to rapid usage of nanosensors in the aerospace and defense industry to enhance efficiency in different automated systems. However, the electronics segment held the highest share of the global nanosensors market in 2018, accounting for nearly one-third of the total market share.
Based on region, North America accounted for the highest market share in 2018, accounting for nearly one-third of the total market share, owing to surge in adoption of nanosensor technologies and increase in number of research centers and labs. However, the market across Asia-Pacific region is expected to portray the highest CAGR of 13.1% from 2019 to 2026, owing to advancements in technology regarding automotive and healthcare sectors with government initiatives promoting investments for R&D activities.
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Key Market Players:
- Agilent Technologies
- Applied Nanotech
- Analog Devices, Inc.
- Honeywell International Inc.
- Bruker Corporation
- Kleindiek Nanotechnik GmbH
- Biosensors International Group, Ltd.
- Lockheed Martin Corp.
- Omron Corp.
- Texas Instruments
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