The global nanosensors market is expected to grow at a compound annual growth rate of 37.23% over the forecast period to reach a market size of US$4,949.482 million in 2026, from US$540.028 million in 2019.
Nanosensors are used to convey information about nanoparticles to the macroscopic world and have a wide array of applications in sectors such as defense, energy and power, and healthcare among others. Leading companies have made massive investments in the field of research and development to capture the market share by supplying high-quality products at economical prices. Increasing investment in research and development and rising demand for these sensors by various industries will drive the demand for nanosensors. North America held a significant market share owing to the presence of well-established multinationals and the growing use of advanced medical devices. The Asia Pacific region will grow at a remarkable rate due to impressive economic growth and the need for state-of-the-art technology by companies across industry verticals over the forecast period.
GLOBAL NANOSENSORS MARKET, US$ million, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
Rising demand in the defense sector.
The nanosensors market is expected to surge in the coming years, due to its rising demand in the military and defense sectors. It has a wide range of potential applications in this sector, which includes forensics, decontamination, and chemical detection. Major institutes and organizations have been making significant developments in the market, in the past few years. For instance, The Navy Research Laboratory's Institute for Nanoscience had been studying and researching quantum dots for applications in nanophotonic and to identify biological materials. Moreover, there had been an expectation of widespread adoption of nanosensors for battlefield scenarios. For instance, with the use of ZnO nanowires, several types of self-powered nanodevices, like wireless data transmission, UV sensors, vibration, and Hg2+ ion senor had been already demonstrated, worldwide. Countries, such as The United States, China, and India are expected to play a major role in the market growth, in the coming years. The Indian government under the Innovations for Defense Excellence Funds (iDEX) had allocated around INR 500 crores for MSMEs and Indian startups to create novel defense solutions under the 'Make In India' initiative.
Growth of Start-ups.
There had been a rise in the number of start-ups, worldwide, intending to develop and produce novel nanosensing solutions for different end-users in the market. NT Sensors, a Spanish startup, had been offering a wide range of nanotube-based sensors that quantifies the total ion concentration of agricultural cultivation solutions and samples in real-time. The firm's nanosensors had been offering insights and data to identify waste points, identify ionic strength of the drainage, and helping to enhance crop performance. Other players have also been making significant developments in the market. Nasys, an Italian start-up, had been developing customized gas nanotechnology sensors. The company's nanosensors could be integrated into existing instruments and gas detectors. These sensors had been identifying the gas composition for environmental, industrial, and domestic use cases. Tracense, an Israel-based startup, has been offering ultrasensitive nanotechnology sensors that can detect and find potential threats in liquid, solid and gaseous materials at nanolevel concentrations. These trends and developments are expected to play a major role in the market growth.
GLOBAL NANOSENSORS MArket SHARE, BY GEOGRAPHY, 2019 & 2026
Major institutes, companies, and organizations have been developing novel and advanced nanosensors for the market.
Increasing use in cancer monitoring and treatment.
The market is expected to surge in the coming years, due to the rising demand for nanosensors in cancer monitoring and treatment. According to the data given by the World Health Organization, cancer has been a major and leading cause of death, globally, and had accounted for around 10 million deaths in the year 2020. Nanosensors would be able to allow the screening of diseases/normal individuals among the populations by circulating tumor cells, early detection of biomarkers and exosomes from the blood samples. Optical sensors could be widely used in cancer detection and monitoring. It has several potential applications for biomaterials detection, such as the detection of basal cancer, breast cancer, cervical cancer, and others.
|Market size value in 2019||US$540.028 million|
|Market size value in 2026||US$4,949.482 million|
|Growth Rate||CAGR of 37.23% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||NanoWorld Group, INanoBio Inc., Nanowear Inc., Micromen Technologies Inc., IBM Corporation, Lockheed Martin, Agilent Technologies, NT Sensors, Nano Sensor Systems S.R.L, Tracense|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the nanosensors market size by 2026?
A1. The nanosensors market is expected to reach a total market size of US$4,949.482 million in 2026.
Q2. What are the growth prospects for the nanosensors market?
A2. The global nanosensors market is expected to grow at a CAGR of 37.23% during the forecast period.
Q3. What is the size of global nanosensors market?
A3. Nanosensors Market was valued at US$540.028 million in 2019.
Q4. Which region holds the largest market share in the nanosensors market?
A4. North America held a significant share in the nanosensors market owing to the presence of well-established multinationals and the growing use of advanced medical devices.
Q5. What factors are anticipated to drive the nanosensors market growth?
A5. Increasing investment in research and development and rising demand for these sensors by various industries will drive the demand for nanosensors.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Nanosensors Market Analysis, By Type
5.2. Optical Nanosensors
5.3. Mechanical Nanosensors
5.4. Electromagnetic Nanosensors
6. Global Nanosensors Market Analysis, By End-User Industry
6.3. Aerospace & Defense
6.4. Energy & Power
7. Global Nanosensors Market Analysis, By Geography
7.2. North America
7.2.1. United States
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. NanoWorld Group
9.2. INanoBio Inc.
9.3. Nanowear Inc.
9.4. Micromen Technologies Inc.
9.5. IBM Corporation
9.6. Lockheed Martin
9.7. Agilent Technologies
9.8. NT Sensors
9.9. Nano Sensor Systems S.R.L
Micromen Technologies Inc.
Nano Sensor Systems S.R.L
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