BANGALORE, India, March 30, 2020 /PRNewswire/ -- The advent of nanotechnology-based biosensors is one of the factors that is largely attributing to the growth of the Global Biosensors Market. Early and accurate diagnosis of the disease is important for patient recovery and survival. In recent years, demand for portable, cost-effective and user-friendly devices with quick response time has increased considerably.
"The global Biosensors market size is projected to rise from USD 20563.24 million in 2018 to USD 38156.56 million at a compound annual growth rate (CAGR) of 9.23% by the end of 2025."
The Global Biosensors Market is expected to show growth opportunities in sectors like the food industry, environmental monitoring, bio-defence and in developing countries. However, biosensors technology has seen a slow rate of commercialization in recent years due to the high price of biosensors and competition from the healthcare sector alone. Commercialization of biosensors for non-medical applications, such as military, biodefense, fermentation control, environmental monitoring, is a challenge for industry players due to limited R&D and positive outcomes.
TRENDS INFLUENCING THE BIOSENSORS MARKET SIZE :
- One of the major trends influencing the global biosensor market is the favourable government policies aimed at improving proteomics and genomics. For example, National Information and Communication Technology Australia (NICTA) is expected to advance its research into data mining, networks and embedded systems to be used in this area.
- Another major driver for the biosensor market is the growing demand for point-of-care testing. The demand for point-of-care testing is growing due to the rising demand for portable and integrated devices. Furthermore, it allows physicians to identify the cause of the illness for immediate treatment. Therefore, the growing demand for point-of-care testing will minimize healthcare costs and help to produce reliable and timely outcomes from clinical studies.
REGION WISE BIOSENSORS MARKET SHARE :
- POC diagnosis is the fastest-growing application for biosensors in North America. Growth is majorly due to a rise in the target patient population. In addition, technological advancements such as the introduction of miniaturized diagnostic equipment with fast and reliable results and growing consumer penetration of Electronic Medical Records (EMRs) are also expected to drive market growth over the forecast period.
- The Asia Pacific is predicted to have the highest growth rate in the forecast period closely followed by Latin America. Some of the main factors contributing to the growth of the biosensor market in Asia-Pacific and Latin America are the presence of high unmet medical needs for target diseases, such as cancer, diabetes and other infectious diseases, rising patient awareness and continuously growing healthcare spending in the region.
On the basis of Type, the Global Biosensors Market is studied across
- Embedded Device
- Sensor Patch.
On the basis of Product, the Global Biosensors Market is studied across
- Non Wearable Biosensors
- Wearable Biosensors.
On the basis of Technology, the Global Biosensors Market is studied across
- Electrochemical Biosensors,
- Nanomechanical Biosensors,
- Optical Biosensors,
- Piezoelectric Biosensors,
- Thermal Biosensors.
On the basis of Industry, the Global Biosensors Market is studied across
- Environmental Monitoring,
- Food & Beverages,
- Home Diagnostics,
- Research Lab.
"Sysmex Corporation the potential growing player for the Global Biosensors Market"
The key players profiled in the Global Biosensors Market are
- Abbott Laboratories Inc
- F.Hoffman La-Roche AG
- Medtronic Inc
- Siemens AG
- Universal Biosensors
- ACON Laboratories Inc.
- Bayer Healthcare AG.
- Biacore Life Sciences
- Bio-Rad Laboratories Inc
- Biosensors International Pte. Ltd.
- DuPont de Nemours, Inc.
- LifeScan Inc
- Nova Biomedical Corporation
- Sysmex Corporation
Biosensors Market By Geography
- North America
- Asia Pacific
1. Glucose Biosensors Market Research Report
The global Glucose Biosensors market size is estimated at USD 3,220.7 million in 2020, is projected to hit USD 3578.7 million by the end of 2026, rising at a CAGR of 1.5% in 2021-2026.
Glucose biosensors are instruments that calculate glucose concentrations in diabetic patients by means of a sensitive protein that relays the concentration through fluorescence, an alternative to amperometric glucose sensing. The increase in the incidence of diabetes worldwide is projected to be a key driver of market growth.
2. Bioelectronics and Biosensors Market Research Report
The global Bioelectronics and Biosensors market size amounted to USD 16,500 million in 2017 and is projected to hit USD 32,200 million by the end of 2025, rising at a CAGR of 10.0% between 2018 and 2025.
This study analyzes the market size of Bioelectronics and Biosensors by players, countries, product types and end industries, the historical data for 2013-2017 and the forecast data for 2018-2025. Furthermore, this report analyzes the global competitive market environment, market drivers and trends, opportunities and threats, risks and entry barriers, distribution channels, distributors and Porter's Five Forces Analysis.
3. Wearable Biosensors Market Research Report
The wearable biosensors help track various health parameters, such as pulse rate, blood pressure, heartbeat and others. Increasing understanding of maintaining a safe and healthy lifestyle accelerates the demand for wearable biosensors market size.
This study focuses on the volume and value of Wearable Biosensors at global, regional and company level. From a global viewpoint, this study reflects the overall market size of Wearable Biosensors by evaluating historical data and potential prospects. Regionally, this study focuses on a variety of main regions: North America, Europe, China and Japan.
4. Smart Biosensors Market Research Report
Biosensors are analytical instruments used to identify chemical and biological substances in the human body. Smart biosensors are easy to use, fast, accurate and efficient than conventional analytical methods.
This research report categorizes the global Smart Biosensor market by top players/brands, country, size and end-users. The study also explores the global market status of Smart Biosensor, the competitive environment, market size, growth rate, future trends, market drivers, opportunities and challenges, distribution channels and distributors.
5. Sensors Market Research Report
The global sensors market size was estimated at USD 138,965.0 million in 2017 and is expected to hit USD 287 billion by 2025, rising at 9.5 per cent CAGR from 2019 to 2025.
Sensors have penetrated in almost every industry, but are most commonly used in consumer electronic goods, followed by automotive and IT & telecommunications. Smartphones integrate sensors such as accelerometer, gyroscope, ambient light sensor, proximity sensor and temperature detector to keep track of parameters. The rising number of smartphones is expected, in turn increasing the growth of sensor market size.
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