The global biosensors market size is anticipated to reach USD 33.76 billion by
2026 registering a CAGR of 8.1%, 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 biosensors market growth. 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 market.
Continuous technological developments are
also expected to boost the market. 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 the biosensors market growth. In addition, the development of
nano particle-based electrochemical biosensors is expected to create growth
opportunities for the key comapnies, thereby driving the market.
Access Research Report
of Biosensors Market@ https://www.grandviewresearch.com/industry-analysis/biosensors-market
Further key findings from the study suggest:
· Medical application segment led the market
in 2018. Medical wearable biosensors are 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 2018 and are anticipated to witness a significant
growth over the forecast period
· This growth can be attributed to its 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 a rapid growth owing to 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
· Asia Pacific market is expected to witness
the fastest growth over the forecast period owing to increasing awareness
regarding wearable biosensors and constantly improving healthcare facilities in
the region
· Key companies in the market includes AZUR
Environmental; Abbott Laboratories; Biosensor BV; Bayer AG; Cranfield
Biotechnology Centre; DuPont Biosensor Materials; Ercon, Inc.; and Johnson
& Johnson
Grand View Research has segmented the
global biosensors market on the basis of technology, application, end use, and
region:
Biosensors Technology Type Outlook
(Revenue, USD Million, 2015 - 2026)
·
Thermal
·
Electrochemical
·
Piezoeletric
·
Optical
Biosensors Application Outlook (Revenue,
USD Million, 2015 - 2026)
·
Medical
o
Cholesterol
o
Blood Glucose
o
Blood Gas Analyzer
o
Pregnancy Testing
o
Drug Discovery
o
Infectious Disease
·
Food Toxicity
·
Bioreactor
·
Agriculture
·
Environment
·
Others
Biosensors End Use Outlook (Revenue, USD
Million, 2015 - 2026)
·
Home Healthcare Diagnostics
·
PoC Testing
·
Food Industry
·
Research Laboratories
·
Security and Bio-defense
Biosensors Regional Outlook (Revenue, USD
Million, 2015 - 2026)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
South Africa
o
Saudi Arabia
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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