The market for nanosensors will grow from $13.1 million in 2014 to $485 million in 2019, according to a new report by the industry analyst firm NanoMarkets. The report titled, Nanosensor Markets—2014 report is the latest market study from this firm, which regularly covers the latest developments in sensors. The report claims that the demand for sensors will be driven by the latest trends in healthcare and national security needs, as well as the trend toward an Internet-of-Things (IoT).

For additional details of the report see:

About the report:

NanoMarkets new report on nanosensor markets includes a detailed eight-year forecast with breakouts by type of application in both volume (units sold) and value ($millions) terms. Like other sensor markets, the nansosensor market is highly fragmented and spread across many applications. Applications covered in the report include identification of hazardous explosives, detection of biological weapons, fiber optic nano-cameras, diabetes monitoring, total blood testing, detection of genetic defects, cancer detection, therapeutics, labs-on-a-chip, pollution control, detection of pesticides and organophosphates, detection of other harmful pathogens, energy storage, mass and pressure measurement, robotics, nanoelectronics/plasmonics and applications in the beverage, transportation, construction, and beverage industry,.

The report also analyzes the commercialization strategies of leading players in the nanosensor space. Companies covered include Addison, Affymetrix, Agilent, Altair Nanotechnologies, Bangalore Genie, Bayer, Biacore Technologies, BioCrystal, Bio-Rad, Boeing, Debiotech, Diabetech, EPIR Technologies, GE, IBM, iCx, INanoBio, Life Technologies, LamdaGen, Lockheed Martin, Microfluidics, Nanobiogène, NanoCellect, Nanocor, Nano Detection Technologies, Nano Engineered Applications, NanoInk, Nanomix, Nanoscience Diagnostics, Nanosensors, Naturgas, ND-array Technologies, Nippon Hosp Kyokai, Opel, Oxonica, PEPperPrint, PerkinElmer, pSivida, Renishaw, Sigma Aldrich, Ted Pella, Texas Instruments, Thermo Fischer Scientific, Specialized Imaging, SpectraFluidics, VASEMA and Vista Therapeutics.

While many of the firms covered are small, the report notes that major multinationals are also involved in the nanosensors space and that they will deploy their large resources – both dollars and marketing channels – to make the nanosensor business a success.

From the report:

Nanosensor development is initially being driven by military and domestic security applications where cost is not the primary issue. Detecting small traces of toxic substances in this sector can mean the difference between life and death. The demand here is immediate, but relatively limited compared to medical and industrial segments – sales of nanosensors for detecting harmful substances will reach no more than $55 million by 2019 and $142 million in 2021. Nonetheless, nanosensor technology originally developed for military/security applications will ultimately be repurposed for industrial and medical markets. GE is already working to take nanosensor technology developed by Boeing for aerospace into a much wider range of markets.

Over the next eight years the largest market for nanosensors will come from the medical/healthcare sphere, with the single biggest medical application being blood sugar monitoring for diabetics. NanoMarkets projects that this application – spurred by the dramatic recent growth in the number of diabetics — will lead to nanosensor sales of $153 million in 2019, growing to $457 million in 2021. Other important medical applications for nanosensors will include total blood testing and therapeutics.

Today most IoT applications do not require nanosensors, but this will change. Nanosensor technology may reduce the cost of sensing spurring the ubiquitous sensing that lies at the core of the IoT concept. The NanoMarkets’ report notes how the deployment of nanosensors may transform wireless sensor networks into “smart dust” used for both healthcare and military applications. Other IoT applications may also benefit from the sensitivity of nanosensors. One possibility is nanosensor-based networks of self-monitoring components in planes and cars and pervasive gas sensing capabilities in the chemical and power-generation industries. Also important in this context is that several companies, including IBM, are developing technologies that interface nanosensors to conventional silicon chips. NanoMarkets believes that this will better enable the use of nanosensors in IoT networks.

About NanoMarkets:

NanoMarkets tracks and analyzes emerging markets in energy, electronics and other area created by developments in advanced materials. The firm is a recognized leader in industry analysis and forecasts of the sensor sector.