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Study #2355 May 2008 $4500 320 Pages

Chemical Sensors

US Industry Study with Forecasts for 2012 & 2017

Growth will be aided by technology gains that allow for price reduction, sensor miniaturization and greater precision, all of which will expand the use of chemical sensors into new markets.

US demand to grow 7.6% annually through 2012

Medical 66%

US demand for chemical sensors is projected to grow 7.6 percent per year to $5.4 billion in 2012. 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. Biosensors will continue to be the largest type of chemi- cal sensor, while those based on emerg- ing 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.

Industrial 21%

Environmental Monitoring 9%

US Chemical Sensor Demand ($3.7 billion, 2007)

Other Markets 3%

photo courtesy of Georgia Tech

Biosensors to provide best growth opportunities

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, biosen- sors used outside of medical applica- tions will continue to face considerable challenges from other existing detection and measurement methodologies. Optical sensors -- including products based on infrared, fiber optic, photoion- ization, fluorescence, chemilumines-

cence, 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.

Medical applications to be fastest growing market

The medical market will grow the fastest, and therefore will remain the largest market by far for chemical sensors. More specifically, demand for blood glucose test strips will continue to see strong gains, reaching $3.4 billion in 2012. 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 intro- duction of new sensor applications such as cabin air quality control. In addition, the development of lower-cost, more durable and higher-performance chemi- cal sensors will drive demand in other markets such as process industries, water and wastewater monitoring, as well as homeland security. For example, biosensors are being developed for fermentation process control in brewer- ies and distilleries, and for the food and beverage sector to ensure food quality and safety.

Copyright 2008 The Freedonia Group, Inc.

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