The global biosensors market size is anticipated to reach USD
36.0 billion by 2027, expanding at a CAGR 9%, according to a new report by
Grand View Research, Inc. Various applications in the medical field, high
demand for miniature diagnostic devices, and rapid technological advancements
are the key driving factors for the market.
Early and precise disease diagnosis is
essential for successful prognosis of diseases and survival of patients. In
recent years, the demand for simple, disposable, user-friendly, and
cost-efficient devices with fast response time has increased extensively leading
to increase in the sales of these products, thereby driving the biosensor
market.
Increase in technological development is
expected to be a significant factor for the growth of the market over the
forecast period. For instance, in October 2015, Abbott Laboratories launched
FreeStyle Libre Glucose Monitoring System in Europe. It is intended to be a
replacement for blood glucose meters. Moreover, rising applications of thermal
biosensors in biomolecular interaction and hybridization analysis, environmental
monitoring, and cosmetic analysis are expected to boost market growth. In
addition, the development of nano particle based electrochemical biosensors is
expected to create opportunities for the key players, thereby driving the
market.
For full research report on Biosensors Market
visit here:
https://www.grandviewresearch.com/industry-analysis/biosensors-market
Further key
findings from the study suggest:
- On the basis of application, the medical
segment dominated the biosensors market in 2019. The device is considered
an essential tool in the detection and monitoring of a wide range of
medical conditions, such as diabetes and cancer
- Electrochemical biosensors accounted for the
largest market share in 2019 and is anticipated to witness a significant
growth over the forecast period owing to the widespread applications for
quantification and analysis in biochemical and biological processes
- On the basis of end use, biosensors in food
industry are expected to witness fastest growth over the forecast period
owing to the rising pressure from regulatory bodies pertaining to the
hygiene standards of the food items where this device plays a vital role
for detecting pathogens, allergens, and pesticides in the food items
- In Asia Pacific, the market is expected to
witness the fastest growth over the forecast period, closely followed by
Latin America owing to increase in awareness regarding biosensors, and
constantly improving healthcare facilities in the region
- Key players in the industry includes AZUR
Environmental; Abbott Laboratories; Biosensor BV; Bayer AG; Cranfield
Biotechnology Centre; DuPont Biosensor Materials; Ercon, Inc., and Johnson
and Johnson.
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Grand
View Research has segmented the global biosensors market on the basis of
application, technology, end use, and region:
Biosensors
Technology Outlook (Revenue, USD Million, 2016 - 2027)
- Thermal
- Electrochemical
- Piezoelectric
- Optical
Biosensors
Application Outlook (Revenue, USD Million, 2016 - 2027)
- Medical
- Cholesterol
- Blood Glucose
- Blood Gas Analyzer
- Pregnancy Testing
- Drug Discovery
- Infectious Disease
- Food Toxicity
- Bioreactor
- Agriculture
- Environment
- Others
Biosensors
End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Home Healthcare
Diagnostics
- PoC Testing
- Food Industry
- Research Laboratories
- Security and
Bio-defense
Biosensors
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Belgium
- Switzerland
- Netherlands
- Russia
- ROE
- Asia Pacific
- Japan
- China
- South Korea
- India
- Australia
- Indonesia
- ROAPAC
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- ROLATAM
- Middle East &
Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- ROMEA
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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