The global chemical sensors market was valued at US$ 17,466.9 million in 2017 and is expected to witness a CAGR of 5.2% during the forecast period (2017 – 2025).

Seattle, WA -- (SBWire) -- 09/26/2019 --Chemical sensor devices are used to covert chemical or physical property of a specific analyte into a measurable signal. In chemical sensor, chemical recognition system and physiochemical transducer are two major components, where chemical sensor is physically small and operate in real-time. They are controlled by the thermodynamics and kinetics of a chemical reaction. As there have been numerous technological advancements in the different sectors such as food, pharmaceuticals, medical, and more, chemical sensors have become a key part of these industries. Growing concerns over homeland security coupled with rampant development of various industries are the major drivers of global chemical sensors market. Moreover, increasing production rate of advanced vehicles is another factor positively impacting growth of the global chemical sensor market. Moreover, technological advancements in medical sector is expected to drive growth of the market during the forecast period. Government authorities are also involved in launching of initiatives for the safety of environment, which is expected to propel the market growth in the near future.

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The global chemical sensors market was valued at US$ 17,466.9 million in 2017 and is expected to witness a CAGR of 5.2% during the forecast period (2017 – 2025).

Rising use of energy is expected to drive growth of the global chemical sensors market.

Chemical sensors are majorly in various industries to control environmental safety. Its major role is to track toxic gases and hazardous chemicals. They are also used in tracking man-made as well as natural phenomena such as air pollution, chemical warfare, weather prediction, and waterways infestation. Moreover, chemical sensors find applications in defense and military forces, in order to track chemical agents during the time of war. Smoke alarms, pH meters, and carbon monoxide (CO) detection system also use chemical sensors. Growing use of chemical sensors in various business sectors and increasing prevalence of chronic disease is expected to drive growth of the global chemical sensors market. Among regions, North America is expected to account for the largest market share and gain significant traction during the forecast period. This is owing to increasing application of chemical sensors in various industries for environmental control in the U.S. and Canada. However, poor shelf-life of chemical sensors is expected to hinder growth of global chemical sensors market during the forecast period.

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Growing number of advanced vehicle production is a prominent factor to fuel the chemical sensors market
The market for chemical sensors is gaining significant traction due to growing industrialization in emerging economies along with rising focus on increasing environmental pollution. In addition, growing number of advanced vehicle production is also one of the major driving factors for the market which is anticipated to contribute in the positive development of the market over the forecast period. Increasing adoption of chemical sensors in medical sector is anticipated to surge the growth for the chemical sensors market. Chemical sensors are used in blood sugar testing strips, portable glucose monitors, and different other medical devices these factors are prime growth contributing factors for the market. Product innovation through research and development is one of the major strategies adopted by the key players operating in the chemical sensors market to hold their prominent positions globally. New innovations like wearable chemical sensors and metal oxide nanowire chemical sensors along with portable chemical sensors and devices for health monitoring among others are anticipated to fuel the market for chemical sensors over the forecast period globally.

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