Biosensor Market Overview
Biosensors, attributable to their ability to assess health standing, and sickness onset and progression, are being used extensively in-home healthcare by patients, and hence, area unit expected to spice up market growth over the forecast amount. furthermore, technological advancements, in addition as numerous non-medical-based applications are expected to boost the relevance of the market for biosensors, therefore promoting its growth.
Biosensors are analytical devices that incorporate biological-based sensing instruments, that are associated or integrated with physiochemical transducers. Biosensors aim to provide digital or electronic signals, that are proportional to chemical content and yield specific measurements. Myriad applications within the healthcare sector such as cholesterol testing, blood glucose monitoring, gestation testing, and drug discovery are expected to impact the marketplace for biosensors, positively.
The rising prevalence of market for as expressed by the International Diabetic Federation is regarding 8.0%, annually estimating over 590 million individuals to amass polygenic disorder until 2035, thereby promoting substantial growth of the market over the forecast period. Thus, due to their ability to assess health standing and monitor sickness onset and progression they're getting used extensively in-home health care and therefore, area unit expected to spice up market growth over the forecast period.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Technology Application and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | AZUR Environmental, Abbott Laboratories, Biosensor BV, Bayer AG, Cranfield Biotechnology Centre, Pinnacle Technologies Inc., DuPont Biosensor Materials, Ercon, Inc., EG & IC Sensors, Inc., Johnson & Johnson, Innovative Biosensors Inc., LifeScan, Inc., Strategic Diagnostics, Sysmex Corporation, Molecular Devices Corp., QTL Biosystems, Roche Diagnostics. |
The covid-19 Impact on Biosensor Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor trade. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Biosensor Market Segment Overview
By Technology, Eletrochemical segment dominated the market ,Because of its widespread application for quantification and analysis in biochemical and bilogical processes.
By Application, Medical segment dominated the market,The medical segment includes the utilization of biosensors within the field of cholesterol testing, blood glucose observance, blood gas analyser, pregnancy testing, drug discovery, and infectious diseases.It is thought of an essential tool within the detection and observance of a wide range of medical conditions from diabetes to cancer, thereby, conducive to segment growth.
By End User, The home healthcare diagnostics segment is anticipated to witness the highest CAGR in forecast period ,Key factors attributing to its rising embody the increasing prevalence of target diseases like diabetes, cardiovascular diseases, and cancer. Increasing demand for cheap and reliable sensors for routine watching of patients at home and technological advancements of latest product development capable of delivering results with better specificity and sensitivity is anticipated to spice up the usage rate over the forecast period.
Market Analysis, Insights and Forecast – By Technology
· Thermal
· Electrochemical
· Piezoelectric
· Optical
Market Analysis, Insights and Forecast – By Application
· Medical
· Food Toxicity
· Bioreactor
· Agriculture
· Environment
· Others
Market Analysis, Insights and Forecast – By End User
· Home Healthcare Diagnostics
· PoC Testing
· Food Industry
· Research Laboratories
· Security and Biodefense
Biosensor Market Regional Overview
Region-wise, in terms of regions,North America holds a major market share of the worldwide market owing to the growing prevalence rate of targeted diseases and also the presence of key players within the region. Technological advancements like the introduction of miniaturized diagnostic equipment rendering fast and correct results and rising penetration of Electronic Medical Records (EMR) also are expected to drive the market over the forecast period. Besides, technological advancements in providing minimally invasive devices, the necessity for cost-effective medical diagnostics, and also the rising demand for home diagnosing are expected to drive market growth during this region.
In Asia Pacific, the market is predicted to exhibit the fastest growth throughout the forecast period. The presence of high unmet medical wants concerning target diseases, like cancer, diabetes, and different infectious diseases, growing patient awareness levels, and perpetually rising healthcare expenditure within the region, are a number of the key factors attributing to the expansion of the market in Asia Pacific.
Biosensor Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Biosensor Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Biosensor are highlighted below.
· In January 2020, Abbott collaborated with Insulin Corporation-a manufacturer of tubeless insulin pumps through the utilization of its Omnipod product platform to integrate with Abbott's freestyle Libre sensor. Through this collaboration, the corporate would be able to give personalised automatic endocrine delivery and insulin those with diabetes.
Biosensor Market, Key Players
· AZUR Environmental
· Abbott Laboratories
· Biosensor BV
· Bayer AG
· Cranfield Biotechnology Centre
· Pinnacle Technologies Inc.
· DuPont Biosensor Materials
· Ercon, Inc.
· EG & IC Sensors, Inc.
· Johnson & Johnson
· Innovative Biosensors Inc.
· LifeScan, Inc.
· Strategic Diagnostics
· Sysmex Corporation
· Molecular Devices Corp.
· QTL Biosystems
· Roche Diagnostics
Q1. What is the total CAGR expected to be recorded for the Biosensor market during the forecast period?
Biosensor market is expected to record a CAGR of ~ 6.8% during the forecast period
Q2. Which segment is projected to hold the largest share in the Biosensor Market?
Hospital segment is projected to hold the largest share in the Biosensor Market
Q3. What are the driving factors for the Biosensor market?
The rise within the prevalence of diabetes among population is key factors that boost the growth of the Biosensor market progressively.
Q4. Which Segments are covered in the Biosensor market report?
Technology,End User and Region, these segments are covered in the Biosensor market report.
Q5. Which are the prominent players offering Blood Glucose Test Strip Packaging?
AZUR Environmental ,Abbott Laboratories,Biosensor BV,Bayer AG,Cranfield Biotechnology Centre,Pinnacle Technologies Inc.,DuPont Biosensor Materials,Ercon, Inc.,EG & IC Sensors, Inc.,Johnson & Johnson,Innovative Biosensors Inc.,LifeScan, Inc.,Strategic Diagnostics,Sysmex Corporation,Molecular Devices Corp.,QTL Biosystems,Roche Diagnostics.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
