Israel Chemical Sensor market is expected to grow at a CAGR of 4.92% by the year 2024

(IT-NEWSWIRE.COM, January 08, 2018 ) Israel Chemical Sensor market is expected to reach USD 1.42 Billion by 2024 at a CAGR of 4.92%. Factors influencing the growth of Israel Chemical Sensor market include increased adoption of chemical sensors in Medical, Aquaculture, Environmental Monitoring, Automotive, Food and Beverages and in various other industries.

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Biomedical sensors held the largest share in Chemical Sensor market in 2017

Based on product type, Chemical Sensor market is segmented as Optical, Biochemical, Electrical, Catalytic Bead and Electrochemical sensors. Among these, Biomedical sensors held the most significant share in the Chemical Sensor market as it is used extensively in medical and healthcare fields for cholesterol monitoring, detection of cancer tumors, flue emission gases and biological constraints. In the area of healthcare, Biomedical sensors are majorly used in strips for testing glucose in the blood. Electrochemical sensors are the fastest growing segment owing to the increased usage of sensors in industrial manufacturing. Catalytic Bead and Optical sensors are majorly used in the industries for their high sensitivity and detection of combustion gases.

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Medical and Healthcare industries will hold the highest share in the market by 2024

Based on end-user applications, Israel Chemical Sensor market is segmented as Medical, Automotive, Environmental Monitoring, Oil and gas, Food and Beverages industries. Out of these, Oil and gas industry held the highest share in the market in 2017 owing to increased use of chemical sensors for monitoring the pipeline and gas leaks. Medical and Healthcare sectors will maintain the highest percentage in the market by 2024 due to the increased usage of biosensors for detection of a renal failure, urinary tract infections, drug and alcohol consumptions in the body.

The key players in the Israel Chemical Sensor market include ABB Limited, Alpha MOS, Robert Bosch GmbH, Delphi Automotive PLC, DENSO Corporation, and Emerson Electric Company among others.

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Israel Chemical Sensor market is expected to grow at a CAGR of 4.92% by the year 2024