The Digital Scent Market was valued at USD 16.70 million in 2019, and is expected to reach USD 29.88 million by 2025, registering a CAGR of 10.50%, during the period of 2020-2025
NEW YORK, March 3, 2020 /PRNewswire/ -- The Digital Scent Market was valued at USD 16.70 million in 2019, and is expected to reach USD 29.88 million by 2025, registering a CAGR of 10.50%, during the period of 2020-2025. Digital scent technology provides the user with the benefit of getting to smell the product before buying it online. For instance, a California-based company, Digiscents Inc. has created a small device called the iSmell, which has its driver and can be connected through a personal computer via serial ports.
Read the full report: https://www.reportlinker.com/p05826218/?utm_source=PRN
- Developments in virtual reality, augment the expansion of the digital scents market. Virtual reality enhances the features of the computers by introducing new concepts such as Digi smell, which is a combination of hardware and software. The hardware part produces the odor, and the software part helps in generating specific signals for specific smells.
- Odor pollution has become a sensitive issue in many parts of the world, with many severe instances reported by different countries in the world. The latest was from Malaysia in July 2019, when the authorities in Malaysia had to dispatch several teams to comb Batang Kali, which was considered to be the source of foul smell which spread through the region.
- The factors responsible for the growth of the market are increasing applications and adoption of the digital scent technology (particularly e-noses) in the healthcare and the military and defense sectors.
- Digital scent technology can also be applied in retail warehouses to prepare the workers to handle the consequences of machinery failure. For instance, in 2018, almost two dozens Amazon warehouse employees were hospitalized after a robot punctured a can of bear repellent. Deploying the technology in these situations could prevent severe damage, provided they are equipped with necessary precautionary devices.
- However, the high initial costs and the lack of awareness are expected to hinder the market growth. The high cost of electronic nose and delays between successive smell tastes are some restraints faced by the digital scent technology market. For instance, digital scent technology used in the field of defense and clinical diagnosis is comparatively expensive, and therefore, it acts as a barrier for further expansion of the market. The unpredictability of airflow is another major factor that hinders the transmission of digitalized smell, and thus restricts its usage.
Key Market Trends
Healthcare Sector Expected to Witness Significant Growth
- Healthcare sector is expected to witness significant growth for the digital scent market due to the rising implementation of e-nose applications for clinical diagnosis. An e-nose is capable of providing useful information through the analysis of the volatile organic compounds in body fluids, such as exhaled breath, urine, and blood, which could cause an increased adoption of this technology in the healthcare industry.
- In the healthcare sector, digital scent technology is used in aromatherapy for curing certain diseases by employing different types of smells. Aromatherapy also helps in diagnosing brain disorders. The healthcare industry is set to witness the highest growth rate owing to increased adoption of scent synthesizers and e-noses to detect cancer. However, the high cost of such devices might hinder the adoption rate in the healthcare industry.
- The need for cost-effective detection devices is increasing at an alarming rate, considering the increasing cases of chronic diseases. For instance, according to the National Cancer Institute, the number of new cancer cases per year is expected to rise to 23.6 million by 2030, in the United States alone, up from an estimated 1,735,350 new cases of cancer in 2018.
- Furthermore, according to new research published in the leading cancer journal, Annals of Oncology, researchers at the Radboud University Medical Center developed an electronic nose that detects chemicals in the breath of lung cancer patients and can identify, with 85% accuracy, the patients who will or will not respond to immunotherapy. The e-nose sensors developed by these researchers reportedly respond to the complete mixture of VOCs in the exhaled breath.
- Leakages in the pharmaceutical products, such as sachets/closures, can lead to product contamination, which has been evident, especially across the United States. In June 2019, the US FDA published a warning letter to a US pharmaceutical manufacturers for concerns regarding leaking product containers in three batches. Instances like these provide an opportunity for e-nose manufacturers to solve gas/odor analysis challenges, while contributing to the market growth.
- In the near future, development and use of application-specific hybrid systems, consisting of the combination of non-specific sensors together with specific sensors or other devices, capable of both producing a response to the odor as a whole, and coupled with technological advancements to rise costs, might boost the growth of the market.
North America to Account for a Major Share
- North America is expected to witness a significant market share for the digital scent technology market owing to an established infrastructure that makes use of various technological advancements.
- The established healthcare industry in the region is boosting the market growth. Emphasis of the US government on healthcare and special initiatives, like the "Patient Protection and Affordable Care Act" (Obamacare) are also favoring the market in this region. Electronic noses are being developed extensively in this region for the healthcare industry to sniff out cancers.
- Similarly, the defense and military sector in the region is very well established, with defense spending in the United States growing at a significant rate. The country has the biggest military defense budget, which is estimated to be around USD 611 billion.
- The recent applications of digital scent technologies have come through advancements in sensor design, material improvements, software innovations, and progress in microcircuitry design and systems integration.
- The developing infrastructure in the region, coupled with the rising adoption of technological advancements across various industries to better the business model, is set to boost the growth of the overall digital scent market.
Competitive Landscape
The digital scent market is neither fragmented nor consolidated. Ongoing research and technological advancements are expected to be the key trends in the market. The companies are adopting various strategies to expand their customer base and mark their presence in the market. Some of the key players are Alpha MOS SA, Electronic Sensor Technology Inc.,Plasmion GmbH, Odotech Inc., The eNose Company,AIRSENSE Analytics GmbH, among others.
- Sep 2019 - Comon Invent BV was working toward the We-nose project of the Port of Rotterdam, to improve air quality monitoring in the port of Rotterdam area. The company, along with other companies, is testing the possibility of automatic source recognition.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05826218/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article