Published Date : 12 Apr 2023
The global electrochemical sensors market has garnered revenue of USD 15,779.18 million in 2022, and it is projected to rise at the rate of 6.32% from 2023 to 2032, to capture USD 2081.73 million by 2032.
The electrochemical sensors market growth is driven by the increasing demand for safety and real-time monitoring of chemical processes, stringent government safety regulations, rapidly increasing popularity of electrochemical sensors in environmental monitoring applications, increasing demand from healthcare, and growing adoption of electrochemical sensors in the oil & gas industry.
A sensor is a device that acts to a particular stimulus, such as light, heat, sound, pressure, magnetism, or movement and communicates an electrical impulse as a way of evaluating the change of any inherent attribute of the component material. Sensors are increasingly being used in numerous areas to advance electrical and sensing technology. Sensors are found in devices such as automobiles, airplanes, mobile phones, and other technological media.
Electrochemical sensors are a type of chemical sensor in which an electrode serves as a transducer element in the presence of an analyte. There are mainly three types of electrochemical sensors such as potentiometric, amperometric, and conductometric. Potentiometric, amperometric, and conductometric electrochemical sensors have found a variety of interesting applications in environmental, industrial, and clinical analyses.
Emerging electrochemical sensors employ a variety of qualities to detect many aspects of our daily life, whether physical, chemical, or biological parameters. Electrochemical sensors offer a low-cost and simple method for detecting variable analytes and are extensively used in agriculture, food, oil, and other sectors. Electrochemical sensors are often used for the detection of oxygen at the percent of volume (% vol) levels and hazardous gases at parts per million (ppm) levels. A receptor that binds the sample, the sample or analyte, and a transducer that converts the reaction into a quantifiable electrical signal are the primary components of an electrochemical sensor.
Electrochemical sensor systems provide analytical techniques that are rapid, accurate, selective, sensitive, and simple to use for the examination of environmental samples. Modern sensing systems have gained from improvements in microelectronic and microengineering in the past few decades, primarily through the manufacture of progressively smaller sensors with higher sensitivity, in addition to cheaper production and maintenance costs. Some government regulations, such as COSHH and OSHA regulations, implement for offshore oil and gas exploration, production, and storage activities, imposing severe restrictions on exposure to carbon monoxide and other toxic gas fumes. This has been a primary driving force behind the introduction of electrochemical technology-based gas sensors.
Additionally, the market has grown as a result of the growing demand for tiny and portable electrochemical sensors in consumer electronics and medical devices. Furthermore, the integration of bio-sensors into multiple diagnostic medical equipment is projected to the drive the global electrochemical sensors market in the coming years
Electrochemical Sensors Market Report Scope:
|Market Size in 2022||USD 15,779.18 Million|
|Projected Forecast Value in 2032||USD 29,132.22 Million|
|Growth Rate||6.32% from 2023 to 2032|
|Largest Market||North America|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
North America accounted for the largest market share in 2022 due to the increasing R&D efforts in automotive, building automation, biomedical, and other sectors, the rapid growth of light vehicle production, rising investments in research & development activities by prominent market players, and increasing government effort in the field of technological innovations. With increasing incidences of industrial explosions, American safety agencies are attempting to aggressively enforce rules, which is leading to an increase in demand for electrochemical gas sensors for surveillance and quality control. On the other hand, the Asia Pacific market is expected to register a rapid CAGR during the forecast period due to an increase in sensor demand across various end-use sectors and rapid growth in the healthcare sector and automotive industries. Increasing demand in developing nations such as India, China, and others is expected to boost the demand for the electrochemical sensor market in the region.
Increasing use of electrochemical sensors in several industries
The increasing use of electrochemical sensors in several industries such as oil & gas, food, agriculture, and other industries is expected to boost the electrochemical sensors market during the forecast period. They provide a low-cost and practical method for detecting variable analytes. To ensure a safer working environment, more effort is being given to explosion prevention by implicit monitoring throughout the dangerous zones of industries.
Short shelf life
The short shelf life of electrochemical sensors is projected to hamper the growth of the market. An electrochemical sensor has a shelf life of six months to one year, depending on the gas to be detected and the environment in which it is used. It is also likely to limit the expansion of the global electrochemical sensors market during the forecast period.
Increasing demand in the healthcare and medical sector
The market has risen substantially due to the higher need for diagnostic procedures and improvements in microfabrication methodology, which have resulted in the creation of sensitive, selective, and effective electrochemical sensors for clinical analysis. The use of electrochemical sensors in molecular point-of-care diagnostics has helped to improve the sensitivity of existing near-patient and quick tests, as well as the expansion of diagnostic capabilities at points of care such as hospital critical care units, physician offices, outpatient clinics, and other around the world.
Limited or narrow temperature range
The major issues with the limited or narrow temperature range as a key challenge for the growth of the global electrochemical sensors during the forecast period. Electrochemical sensors are temperature sensitive, hence the sensors are usually internally temperature adjusted. It is preferable to keep the sample temperature as stable as possible.
Major Key Players:
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