Global Biochemical Sensor Market was valued US$17.1 Bn in 2017 and is estimated to reach US$58.49 Bn by 2026 at a CAGR of 14.72%.
Biochemical sensor market is segmented into product type, film deposition material, application, and region. Based on product type, biochemical sensor market is classified into piezoelectric sensor, gas sensor, optical sensor, electrochemical sensor, and thermal sensor. Electrochemical sensor is estimated to largest market in forecast period due to highest demand in chemical diagnosis. On basis of application, biochemical sensor market is divided into military & defence, food quality control, clinical diagnosis, environmental monitoring, and others. Clinical diagnosis will boost the market during forecast period due to usage into glucose level testing and pregnancy test.
Rising healthcare awareness, oil extraction, incidents of vehicles accidents, advancement in wireless sensor network and material chemistry, rising demand from healthcare sector, and increasing awareness among people about wearable technologies will boost the market of biochemical sensor during forecast period and at same time complexity of product design & incompatibility in real world applications will hamper the market of biochemical sensor.