The global biosensors market size is anticipated to reach USD 36.0 billion by 2027, expanding at a CAGR 7.9%, 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.
For more info visit @ https://www.grandviewresearch.com
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