ELECTROCHEMICAL SENSORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In October 2023, AMETEK, Inc. (NYSE: AME), a leading global provider of electronic instruments and electromechanical devices, announced the acquisition of Amplifier Research Corp., a major manufacturer of radio frequency (RF) and microwave amplifiers, as well as electromagnetic compatibility (EMC) testing equipment. This strategic move aims to enhance AMETEK's capabilities in the EMC testing market and provide a broader suite of solutions for attractive markets such as electric vehicle testing and defense communications.
• In March 2023, Abbott (NYSE: ABT), a global healthcare leader, announced that the U.S. Food and Drug Administration (FDA) cleared its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system sensors for integration with automated insulin delivery (AID) systems. The FreeStyle Libre portfolio is the world's leading sensor-based glucose monitoring system, having changed the lives of 4.5 million people across more than 60 countries.
• In August 2022, Thermo Fisher Scientific (NYSE: TMO), a global leader in serving science, announced the establishment of the Centre of Excellence for DNA Forensics in collaboration with the National Forensic Sciences University (NFSU) in India. This pioneering facility, located on the NFSU campus in Gujarat, is equipped with a comprehensive DNA workflow, including advanced systems for DNA extraction, real-time PCR instruments, DNA sequencers, next-generation sequencers, and rapid DNA technologies. The center aims to enhance training and education for forensic scientists and law enforcement professionals, while versatile electrochemical DNA/RNA sensors are emerging as a promising alternative for PCR-based diagnostics.
• In February 2022, Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science with annual revenue of approximately $40 billion, announced a 15-year strategic collaboration agreement with Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines. The agreement aims to enable dedicated large-scale manufacturing in the U.S. of Spikevax, Moderna's COVID-19 vaccine, and other investigational mRNA medicines in its pipeline.