Nanosensors Market

Nanosensors Market Outlook (2023 to 2033)

The global nanosensors market was valued at around USD 759.4 million in 2023. With a CAGR of 7.1%, the market is likely to reach a valuation of USD 1,512.5 million by 2033. Future Market Insights’ analysis reveals that most of the market revenue is grossed from Biosensors, with a predicted CAGR of 6.6% by 2033. Healthcare is the top application of these tests, with a CAGR of 6.3% in the forecast period.

Nanosensors, which can collect nanoscale data to be processed that would have been hard to reach with larger sensors, are being used extensively across various applications, ranging from healthcare to electronics to manufacturing and aerospace and defense. This widespread usage and increased funding for research and production by authorities is expected to be the key driver for demand in the forecast period.

Report Attributes	Details
Global Estimated Market Value (2023E)	USD 759.4 million
Global Forecasted Market Value (2033)	USD 1,512.5 million

Both Top-Down and Bottom-Up technologies show comparative advantages

Top-down and Bottom-Up are the key types of nanosensor production technology. Top-down techniques which involve miniaturizing existing patterns are beneficial in several ways, especially in long-range order and macroscale dimensions. However, they become more difficult when applied in nanoscale dimensions. Also, the involvement of planar technology means difficulty in constructing 3-dimensional objects that are difficult to construct. The final product can also suffer from imperfections in surface structure.

The bottom-up approach involves the usage of physical and chemical forces to assemble structures from smaller basic units in an almost atom-for-atom form of building molecular structure. Bottom-up techniques are beneficial, especially in short-range order in nanoscale dimensions. This technique, however, is still in the emerging stages. The integration of both is an emerging field of interest as nanotechnology looks at new techniques.

Use of Nanosensors Allows for the Optimization of Aircraft Usage and Is an Emerging Trend in the Defense Sector

Nanosensors and nanotechnology, in general, showcase the massive potential for various applications in the defense sector. For example, Nanosensors can be used to detect harmful substances, such as toxic gases and explosives, based on a mass-based identification. Another application for nanotechnology lies in military apparel and gears. Nanophotonic technology harnesses nanosensors that sense optic changes in response to the target stimuli. This can be helpful when informing those in the line of defense when parts of their gear or themselves are at risk or exposed to danger. Bionanosensor technology can also be harnessed to collect and analyze health-related data, which can be vital in monitoring soldiers.

Use in aerospace is also driving demand for Nanosensors. Sensors are important in aircraft and are vital for measuring various indicators, such as fuel levels, external conditions, and performance updates. Nanosensors, when integrated into these sensor systems, can benefit the systems with improvements in sensitivity and reduction of weight.

Both these factors are vital to aircraft designers since smaller and lightweight sensors mean that more sensors can be used, improving safety and ensuring optimal usage of craft parts without compromising on the lightweight of their aircraft and the benefits lightweight has on fuel usage and efficiency. Also, these Nanosensors can be used in monitoring and camera systems owing to their broader electromagnetic spectrum bandwidth, so the sensing can occur even in bad climates and low visibility situations.

Region-Wise Insights

Europe to be an emerging market with significant investments in research

The nanosensors market in Europe is expected to witness a CAGR of 6%, with a forecasted valuation of USD 326 million at a CAGR of 7.7%. The market in the United Kingdom witnessed a CAGR of 9.8% from 2018 to 2022, and it is forecasted to reach a valuation of USD 54.2 million by 2033.

In 2023, Ireland’s Causeway Sensors, a diagnostics company that developed Nanosensors to detect early-stage cancer and other diseases, announced that they had raised USD 18 million in investment, as well as a USD 3.9 million grant it received as part of the Smart NNI group that raised approximately USD 50 million from the government agency. Causeway is in the developmental stage for a Nanosensors platform, which is intended to have the ability to integrate directly with a bioreactor.

In 2020, Israel’s NonoVation announced that the European Union had awarded them a USD 2.8 million Grant under the Horizon 2020 EIC Accelerator Program. The grant award is to be used for the further development of their nanosensor-based product, SenseGuard. The device has CE certification and is intended as a continuous monitoring system for respiratory concerns. In 2021, the European Innovation Council also provided a USD 5.9 million investment in NonoVation.

Country-wise Insights

United States to Continue Being the Region with High Demand for Nanosensors

The United States to be the country with the largest contribution to demand in the forecast period

The United States is a key market for nanosensors, having witnessed a CAGR of 10.5%, with an absolute dollar opportunity of USD 200.5 million and a forecasted market size of USD 759.4 million at a CAGR of 7.7%. Significant research funding and grant allocation is the key driver for demand in the United States

In September 2020, Nanobiofab announced that they had been awarded a grant from the Defence Health Agency’s SBIR program. The grant amounts to USD 250,000 and will be used to further research. The proposal submitted was for an Inkjet-assisted nano-printing sensing platform.

Under the National Institute of Food and Science, there are 4 key grant programs that fund nanotechnology-related projects, with research on their use in the detection of contaminants like pathogens and allergens being the key concern.

In August 2021, the NIH or National Institutes of Health’s NIGMS or National Institute of General Medical Sciences awarded funding of USD 1.96 million to a City College of New York biomedical engineer as part of the MIRA ESI or Maximizing Investigator’s Research Award for Early Stage Investigators program. The funding has to be used to create implantable novel Nanosensors of the fluorescent type to study cytokine signaling in chronic diseases.

Category-wise Insights

Healthcare to Come Out as Dominant Application Type in the Nanosensors Industry

Healthcare is the top application of Nanosensors, having witnessed a CAGR of 9.4% and a forecasted CAGR of 6.3%. Rapid, sensitive, and accurate detections are vital to diagnostic medicine. The early detection of conditions is essential since many problems have symptoms that do not start showing observable signs until the condition has progressed to stages that can prove to be hard to treat. Currently, a key form of the use of nanosensors in the diagnostics field is for immediate diagnostics of conditions through techniques such as real-time monitoring.

One example of this is through the use of QDs or Quantum Dots, which can be used as photoluminescent nanosensors to detect chemicals and even tumors. Quantum dots have been the topic of a large volume of current research. Nanosensors can also be used in IV lines as silicon nanowires. They can detect biomarkers that would allow their monitoring over time to sense any abnormalities and thus help analyze organ health over time. They can also be used to monitor for contamination in organ implants, with embedded implants that can detect contaminations over time through continuous monitoring.

Competitive Landscape

At present, nanosensor providers are focused on research and development to understand possible applications for the use of their products across various industries and applications. The key companies operating include Affymetrix Inc., Agilent Technologies Inc., Altair Nanotechnologies Inc., Bayer AG, BioCrystal Ltd., Biosensors International Group Ltd., Debiotech S.A., Diabetech, Kleindiek Nanotechnik GmbH, Micro-Tech Scientific Incorporated, Nanomix Inc, Nano Detection Technologies Inc., Spectra Fluidics, Fischer Scientific

Some of the recent developments in Nanosensors are as follows :

• In June 2022, LiveMetric announced the launch of their new product, LiveOne. The product is a wearable solution for monitoring blood pressure at 10-second intervals. It has gained 510(k) clearance from the FDA and is intended as an affordable and convenient alternative to the present form of BP cuff. Holter monitors through the use of Nanosensor technology.
• In July 2021, NanoDx announced that they had licensed IBM’s nanosensor technology, which includes nano biosensors that show CMOS compatibility. The company intends to use this technology in its NnanoDx diagnostic platform to provide timely, sensitive, and accurate detections for various healthcare conditions such as influenza, sepsis, and COVID-19.
• In October 2021, Mursla announced that its novel nanoelectronic-based exosome detection method had been granted the GB 2583550B patent. The technology introduces liquid biology samples to a nanochip with several Nanosensors via a complex detection technique. The data will be analyzed using a nanoparticle calibration curve-based algorithm.
• In May 2020, Roswell Technologies and IMEC announced a collaboration to make available commercially available molecular electronics biosensor chips
• In February 2020, Pinpoint Science and Analog Devices announced a collaboration. Under this collaboration, the two will aim to invest in research efforts to develop and manufacture novel nanosensor diagnostics to provide users with instant results with high levels of accuracy.
• In February 2020, Europe’s University of Twente and the Wageningen University announced that through their collaborative efforts, they had created a nanosensor that would detect cancer biomarkers in significantly broad concentration ranges.
• In June 2021, OncoNano Medicine, Inc. announced that it had raised USD 50 million in Series B funding. The company plans to use the funding for further product development and research. OncoNano’s biosensor can detect cancer by reacting to low pH levels and illuminating cancerous cells.

Key Segments Covered in Nanosensors Industry Survey

By Type :

• Chemical Nanosensors
• Optical Nanosensors
• Physical Nanosensors
• Biosensor
• Others

By Application :

• Electronics
• Chemical Manufacturing
• Energy
• Aerospace and Defence
• Healthcare,
• Others

By Technology :

• Molecular Self Assembly
• Top-Down Assembly
• Bottom-Up Assembly

By Region :

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Frequently Asked Questions

Which Application Type Holds Lucrative Opportunities?

Healthcare holds high revenue potential.

Which Countries Dominate the Nanosensors Market?

The United States and the United Kingdom are estimated to dominate the global market.

What is the Growth Forecast for the Nanosensors Market?

The market is forecast to register a CAGR of 7.1% through 2033.

How is the Historical Performance of the Nanosensors Market?

During 2018 to 2022, the market registered a CAGR of 7.1%.

Which is the Top Trend in the Nanosensors Market?

The rising demand for nutritional value food is the current market trend.