Biosensors Market Size is Projected to Rise USD 38156.56 Million at a CAGR of 9.23% by 2025 | Valuates Reports

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."

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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.

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    --  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.


    --  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
    --  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

    --  Biodefense,
    --  Environmental Monitoring,
    --  Food & Beverages,
    --  Home Diagnostics,
    --  POC,
    --  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.
    --  Ercon
    --  LifeScan Inc
    --  Nova Biomedical Corporation
    --  Sysmex Corporation
    --  Others

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Biosensors Market By Geography

    --  North America
    --  Europe
    --  Asia Pacific
    --  LAMEA

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