Biosensors Industry Overview
The global biosensors market size was valued at USD 24.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.0% from 2022 to 2030.
Biosensor demand is increasing due to a variety of medical applications, a growing diabetes population, a high need for tiny diagnostic devices, and quick technological improvements. Accurate and early disease diagnosis is critical for a positive disease prognosis and patient survival. The demand for disposable, user-friendly, and cost-effective devices with quick response times has skyrocketed in recent years. These devices have made rapid progress in the medical field due to their ability to meet these criteria through an interdisciplinary combination of approaches from chemistry, nanotechnology, and medical science.
The growth of the market, on the other hand, is influenced by a number of factors that affect the market's dynamics in both positive and negative ways. The growing demand for point-of-care testing procedures is driving up the demand for effective biosensors, according to a global market report on biosensors. Furthermore, consumers are being urged to use biosensors for regular detection of pathogenic activities in the body due to the prevalence of chronic and lifestyle-related ailments, which is projected to drive up demand for biosensors. Biosensor applications are expanding due to a noteworthy increase in worldwide elderly demographics and the expansion of nanotechnology, which is increasing their availability and affordability.
Gather more insights about the market drivers, restrains and growth of the Global Biosensors market
Biosensors, which incorporate nanotechnology, are expected to find lucrative uses in various industrial activities such as food analysis, imaging operations, and microbial activity monitoring. The market is consolidating due to the rising popularity of medical equipment and tailored medications, increased preference for non-invasive biosensors, and increased research collaboration and agreements between diverse manufacturers. For instance, through a contract managed by Johnson & Johnson Innovation, Ethicon Endo-Surgery Inc., has entered into a research option agreement and partnership with Biometrics BrainStem Inc. Ethicon will use several co-funding mechanisms to confirm the operational and clinical efficacy of Biometrics BrainStem 'Tremor Monitor Unit, a compact, medical device non-invasive biosensor that detects minute eye movements in anesthesia patients.
As a credible assessment of basic brainstem function, this technology has the capacity to distinguish between safe and hazardous levels of sedation for patients all over the world, which is predicted to fuel market growth. Furthermore, in November 2019, scientists from Brazil and the U.S. developed a biosensor that is a glasses-based device that can give diabetics a less invasive test by measuring blood glucose levels through tears. Besides, another important element propelling this market forward is increased awareness of continuous health monitoring. Athletes have increasingly become more interested in this. Many sportsmen utilize EMG biosensors to keep a close eye on their health and receive alerts if anything is wrong.
Athletes will be able to perform better and stay ahead of the competition thanks to this early detection. For instance, in September 2020, Abbott introduced the Libre Sense Glucose Sport Biosensor, a glucose sport biosensor designed for athletes to continually test glucose in order to better understand the relationship between glucose levels and athletic performance. The FreeStyle Libre continuous glucose monitoring technology underpins the Libre Sense biosensor, which was created with diabetics in mind. This is the first personal-use gadget based on that technology that isn't just for diabetes.
Browse through Grand View Research's Medical Devices Industry Research Reports.
- Anesthesia Monitoring Devices Market - The global anesthesia monitoring devices market size was valued at USD 808.7million in 2015. The rising safety awareness amongst the physicians and the soaring volume of surgeries is expected to boost the demand for these devices. For instance, according to the CDC (Centers for Disease Control and Prevention), in 2014, about 51.4 million surgeries were performed in the U.S.
- Wearable Sensors Market - The global wearable sensors market size was valued at USD 149.3 million in 2016. Sensors are a vital aspect in wearable devices used by consumers owing to an increased focus on tracking real-time motion sensing activities. This is likely to propel industry growth over the forecast period.
Biosensors Market Segmentation
Grand View Research has segmented the global biosensors market based on Technology, Application, End-user, and region:
- Biosensors Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Thermal
- Electrochemical
- Piezoelectric
- Optical
- Biosensors Application Outlook (Revenue, USD Million, 2017 - 2030)
- Medical
- Cholesterol
- Blood glucose
- Blood gas analyzer
- Pregnancy testing
- Drug discovery
- Infectious disease
- Food toxicity
- Bioreactor
- Agriculture
- Environment
- Others
- Biosensors End-user Outlook (Revenue, USD Million, 2017 - 2030)
- Home healthcare diagnostics
- PoC testing
- Food industry
- Research laboratories
- Security and bio-defense
- Biosensors Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- November 2020: Medtronic launched InPen integrated with real-time Guardian Connect CGM data. InPen is the first and only FDA-cleared smart insulin pen on the market for people on multiple daily injections (MDI).
- February 2019: the iQ Group Global introduced the glucose saliva biosensor. This cutting-edge technology is one of the few non-invasive glucose saliva-based testing methods that do not necessitate the collection of blood for diabetes management.
Key Companies profiled:
Some prominent players in the global biosensors market include
- Bio-Rad Laboratories Inc.
- Medtronic
- Abbott Laboratories
- Biosensors International Group, Ltd.
- Pinnacle Technologies Inc.
- Ercon, Inc.
- DuPont Biosensor Materials
- Johnson & Johnson
- Koninklijke Philips N.V.
- LifeScan, Inc.
- QTL Biodetection LLC
- Molecular Devices Corp.
- Nova Biomedical
- Molex LLC
- TDK Corporation
- Zimmer & Peacock AS
- Siemens Healthcare
Order a free sample PDF of the Biosensors Market Intelligence Study, published by Grand View Research.
The Biosensors Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the biosensors market includes Abbott Laboratories, AZUR Environmental, Bayer AG, Biosensor BV, Cranfield Biotechnology Centre, DuPont Biosensor Materials, EG & IC Sensors, Inc., Ercon, Inc., Innovative Biosensors Inc., Johnson & Johnson, LifeScan, Inc., Molecular Devices Corp., Pinnacle Technologies Inc., QTL Biosystems, Roche Diagnostics, Strategic Diagnostics and Sysmex Corporation.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Biosensors Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/biosensors-market/download-sampleMarket DynamicsRising geriatric population coupled with increase in demand for diagnosis of various chronic diseases is driving the market growth.
Rising patient preference towards point of care testing is likely to fuel the market growth.
Increasing demand for inexpensive, user-friendly and accurate diagnosis providing devices is likely to spur the market demand in clinics, hospitals and other end-user industries.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
