Biosensors Market Analysis Report By Application, By Technology, By End-use, By Region And Segment Forecasts From 2021 To 2028

Synopsis

With reference to the report published, the global biosensors market was prized by USD 22.4 billion in 2020. It is estimated to witness a 7.9% CAGR from 2021 to 2028.

The biosensors are investigative apparatuses, which integrate organic base sensing mechanisms. These are linked or incorporated with physiochemical transducers. Biosensors try to create electronic or digital indications; those are comparative to the chemical substance and yield precise measurements.

Drivers

Due to their capability to evaluate fitness position, along with the illness inception and succession, biosensors, are expansively utilized in home-based healthcare by the patients. Therefore, it is estimated to increase the enlargement of the market, during the forecast period. A variety of non-medical sourced functions, in addition to scientific progression, is estimated to augment the applicability of the market for biosensors, consequently, encourage its expansion.

The numerous functions in the healthcare segment like pregnancy testing, cholesterol testing, blood glucose checking, and medicine detection are the factors, estimated to optimistically influence the market.

According to the International Diabetic Federation, the increasing occurrence of diabetes is approximately 8.0%, every year. It is estimated that more than 590 million people to obtain diabetes by 2035, thus, endorsing a large growth of the market, during the forecast period.

The governmental programs, intended for the improvement of proteomics and genomics are, moreover, expected to stimulate the expansion of the biosensors market, during the forecast period.

End-Use Insight

In 2020, the PoC testing sector held the biggest, approximately 49.6% revenue share, and ruled the biosensors market. The technical progressions of new products like ultrasensitive printable biosensors for point of care function, which assists in identify or scrutinize biological fluids like saliva, blood, sweat, and urine, are between the major drivers, credited to the expansion of the segment, during the forecast period.

The home healthcare diagnostics sector is likely to observe a maximum of 10.4% CAGR, throughout the forecast period. The input factors, accredited to its speedy enlargement contain the rising incidences of target sicknesses for example cancer, diabetes, and cardiovascular diseases.

Rising demand for the low-priced as well as dependable sensors for regular checking of the patients at residence and scientific progression of the fresh product, able to provide outcomes with improved sensitivity and specificity, is projected to increase the usage speed, all through the forecast period.

Technology Insight

Because of its extensive use for quantification plus the investigation in biological as well as biochemical procedures, the electrochemical sector held the major 70.9% revenue share of the biosensors market, in 2020.

Electrochemical transduction offers substantial advantages above optical otherwise piezoelectric and thermal detection, thus, causing greater utilization and better penetration in the market.

The optical sector is anticipated to observe a maximum of 8.6% CAGR, throughout the forecast period. The increasing demand for optical biosensors in the investigation, due to their multipurpose investigative treatment, is likely to increase the expansion of the segment, during the forecast period.

Application Insight

The medical section held a major 66.6% revenue share in 2020 and led the biosensors market. The medical section includes the application of biosensors in the area of medicine invention, blood gas analyzer, cholesterol testing, transferable diseases, pregnancy testing, and blood glucose check. The biosensors are measured as a necessary device in the discovery and supervising a broad variety of medicinal circumstances such as cancer to diabetes, thus, adding to the expansion of the segment.

The agriculture sector is anticipated to observe a maximum of 9.6% CAGR, during the forecast period. In contrast to the older methods, biosensors offer fast and precise findings of a range of funguses. These are accepted to decrease the loss of farm animals and crops by means of natural intimidation as well as bioterrorism.

This apparatus is utilized to gauge the intensity of herbicides, insect killers, heavy metals, and insect killers in the soil water, and ground. These are, moreover, utilized to predict the likely incidence of soil infection. This was not possible by the usual technology. These features are encouraging the development of the market.

Regional Insight

As a result of the rising occurrence percentage of targeted sicknesses along with the existence of important companies within the province, North America held the principal 39.9% revenue share and dominated the biosensors market in 2020.

Technical progression like the presentation of miniaturized analytical apparatuses interpreting the speedy as well as precise outcomes, along with increasing infiltration of Electronic Medical Records (EMR) in the market is, moreover, estimated to impel the market growth, during the forecast period.

Further, the technical progressions in offering the minimally invasive procedure, the requirement of lucrative medicinal diagnostics, and the increasing demand for the home-based analysis are the factors, anticipated to push the expansion of the market, within this province.

The market is projected to demonstrate the highest development, all through the forecast period, in the Asia Pacific. The existence of greater unmet medicinal requirements regarding target ailments, like diabetes, cancer, and additional transmittable sicknesses, rising stages of patient alertness, continually increasing healthcare spending within the region, are the few input factors, credited to the expansion of the market, within the Asia Pacific.

Companies

With the intention of making stronger their product range plus present varied technically superior and inventive products to their clients, the major companies of the market accept the policy. This policy is highly taken on by the companies to fascinate additional clients.

A number of companies take part in the acquisition, to reinforce their place in the market. This approach facilitates companies to augment their capacity, increase their product range, and enhance their competencies.

Some of the companies for the biosensors market are:

    • Roche Diagnostics
    • Molecular Devices Corp.
    • Strategic Diagnostics
    • Innovative Biosensors Inc.
    • EG & IC Sensors, Inc.
    • DuPont Biosensor Materials
    • Cranfield Biotechnology Centre
    • Biosensor BV
    • AZUR Environmental
    • QTL Biosystems
    • Sysmex Corporation
    • Life Scan, Inc.
    • Johnson & Johnson
    • Ercon, Inc.
    • Pinnacle Technologies Inc.
    • Bayer AG
    • Abbott Laboratories

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global biosensors market report on the basis of technology, application, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2016 - 2028)
    • Thermal
    • Electrochemical
    • Piezoelectric
    • Optical

• Application Outlook (Revenue, USD Million, 2016 - 2028)
    • Medical
        • Cholesterol
        • Blood Glucose
        • Blood Gas Analyzer
        • Pregnancy Testing
        • Drug Discovery
        • Infectious Disease
    • Food Toxicity
    • Bioreactor
    • Agriculture
    • Environment
    • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2028)
    • Home Healthcare Diagnostics
    • POC Testing
    • Food Industry
    • Research Laboratories
    • Security and Biodefense

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Belgium
        • Switzerland
        • Netherlands
        • Russia
    • The Asia Pacific
        • Japan
        • China
        • India
        • Australia
        • South Korea
        • Indonesia
    • Latin America
        • Brazil
        • Mexico
        • Argentina
        • Colombia
    • Middle East & Africa
        • South Africa
        • Saudi Arabia
        • UAE
        • Turkey