Global Biosensors Market (Size of $12,964 Million in 2014) to Witness 10% CAGR During 2015 - 2020

NEW YORK, July 30, 2015 /PRNewswire/ --

P&S Market Research releases a new research report with market overview, trends, DRO analysis, market segmentation, market size, share, forecast, porter analysis, recent developments, competitive scenario and top competitor profiles in:

Global Industry Insight: Biosensors Market Development and Demand Forecast to 2020 

     (Logo: http://photos.prnewswire.com/prnh/20150727/756778)

Explore more about global biosensors market: https://www.psmarketresearch.com/market-analysis/biosensors-market

The global biosensors market was valued at $12,963.9 million in 2014, and it is expected to grow at a CAGR of 9.7% during 2015 to 2020, to reach $22,490 million by 2020. The global biosensors market is being driven by increasing prevalence of diabetic population, and rise in geriatric population. Diabetes is a chronic and non-communicable disease, and its global prevalence is increasing enormously. Increasing demand of point of care testing, rising prevalence of chronic and lifestyle associated diseases, and increasing application of biosensors in various industries are some of the other factors driving the global biosensors market.

In addition, rising product innovation in biosensors helps medical device manufacturing company to develop innovative products for advance diagnostic solutions in order to respond to the rising industry demands. In order to reduce the global burden of chronic and lifestyle associated diseases, accurate diagnosis is needed for prevention of such diseases; and biosensors help in detection and monitoring of these diseases. However, strict regulatory requirements and reimbursement policy issues in healthcare system are inhibiting the growth of the global biosensors market.

Request for report sample of global biosensors market research: https://www.psmarketresearch.com/enquiry-form.php?enqid=100&title=Report%20sample

Based on technology, the global biosensors market has been breakdown into electrochemical, optical, thermal, and piezoelectric. Among all the technologies, electrochemical had a major share in the biosensors market in 2014.  The optical technology was the fastest growing technology in biosensors market, with a CAGR of 10.3% during 2011 to 2014. The end-users of the biosensors include point of care, home diagnostic, research laboratories, food industry, security and biodefense and others; where point of care accounted for approximately 50% of the market in 2014 and security and biodefense was the fastest growing market, with a CAGR of 10.6%, during 2011 to 2014.

By application, the biosensors market has been breakdown into medical testing, food toxicity, industrial process, environmental, agricultural testing, and others. The medical testing accounted for the highest share, by application, in the global biosensors market; whereas, environmental applications witnessed the highest growth during the period 2011 to 2014.

The growing aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and appropriate insurance coverage are driving the biosensors market in North America. North America accounted for more than 40% of the global biosensors market. In Europe, according to International Diabetic Federation in 2013, approximately 52 million people are suffering from diabetes. Thus, increasing prevalence of diabetes would increase the usage of biosensor devices for the diagnosis in Europe. The biosensors market in Asia-Pacific is expected to witness the highest growth rate (11.4% CAGR) during 2015 to 2020, due to increasing healthcare awareness and increasing healthcare expenditure. China is one of the fastest growing countries in Asia-Pacific due to increasing awareness of clinical outcomes and large population base.

Browse more reports on medical devices: https://www.psmarketresearch.com/industry-report/medical-devices

The global biosensors market has a fragmented structure with number of companies operating in the market. The major companies in the market include Siemens Healthcare, Abbott Laboratories Inc., Johnson and Johnson, Medtronic Inc., F. Hoffmann La Roche, and Bayer AG.

Biosensors Market Segmentation  

Biosensors Market by Application 

• Medical diagnostics
• Food toxicity detection
• Industrial process control
• Environmental
• Agricultural testing

Biosensors Market by End-users 

• Point of care testing
• Home healthcare diagnostics
• Research laboratories
• Food industry
• Security and bio-defense

Biosensors Market by Technology 

• Electrochemical biosensor
• Piezoelectric biosensors
• Optical biosensors
• Thermal biosensor

Geographical Segmentation 

Biosensors Market by Region 

• North America
  • The U.S.
• Europe
  • Germany
  • France
  • Italy
  • The U.K.
• Asia-Pacific
  • India
  • China
  • Japan
• Rest of the World (ROW)

Browse other reports:  

Global Medical Fiber Optics Market - https://www.psmarketresearch.com/market-analysis/medical-fiber-optics-market

Global Cardiovascular Devices Market - https://www.psmarketresearch.com/market-analysis/cardiovascular-devices-market

 Global Beauty Devices Market - https://www.psmarketresearch.com/market-analysis/beauty-devices-market

About P&S Market Research 

P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.

With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication.  Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.

Contact:
Ms Somya
Manager - Client Partner
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com