The Global Biosensors Market size is expected to reach $34.3 billion by 2025, rising at a market growth of 8.6% CAGR during the forecast period.
Biosensors are devices which combine biological components for detecting an analyte and a physicochemical component in order to produce a measurable signal. Currently, the most common biosensors are home pregnancy tests and glucose detectors. There is however, a drive to produce novel biosensor technologies for several applications like food analysis, deoxyribonucleic acid testing, and drug detection. Thin films make these sensors increasingly small and with fewer detection limits.
Global Biosensors Market size
The major factors driving the growth of this biosensors market are the growing use of biosensors to monitor glucose levels in individuals with diabetes and rising demand for disposable, cost-efficient & user-friendly devices of the market are furthermore boosting the growth of the global biosensor market. The biosensors market in the Asia Pacific region is gaining major traction.
Biosensors Market Share
Based on Product, the market is segmented into Non-wearable and Wearable. Based on Technology, the market is segmented into Electrochemical, Piezoelectric and Thermal & Optical. Optical biosensors are commonly used to analyse biomolecular interactions as these sensors can determine affinity and kinetics of a wide variety of molecular interactions in real time, without requiring a molecular tag or label. Optical sensors are used for several new applications, such as drug discovery, including target identification; ligand fishing; assay development; and quality control. The growth of these applications is helping optical sensors to grow at the highest CAGR.
Based on Application, the market is segmented into Medical Applications, Agriculture, Environment, Food Toxicity and Others. Medical Applications are further bifurcated into Blood Glucose Monitoring, Cholesterol Testing, Pregnancy Testing, Blood Gas Analyzer, Infectious Diseases and Others. Based on End User, the market is segmented into Point of care Testing, Home healthcare Diagnostics, Research Laboratories, Food Industry and Others. The geographies included in the report are North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
KBV Cardinal Matrix
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Danaher Corporation, ABBOTT Laboratories, Siemens AG, AgaMatrix, Inc., BAYER AG, Johnson and Johnson, LIFESENSORS, Inc., Medtronic plc., Bio-Rad laboratories, Inc. and Analog Devices, Inc. The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Johnson & Johnson and Siemens AG are some of the forerunners in the Biosensors market.
Market Segmentation:
By Product
By Technology
By End User
By Application
By Geography
Companies Profiled
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