According to the latest report by IMARC Group “Biosensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global biosensors market reached a value of US$ 24.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 39.9 Billion by 2027, exhibiting a CAGR of 8.51% during 2022-2027.
Biosensors are medical devices that detect the presence of biological substances in the environment, such as biomolecules and bacteria. They contain an analyte, a mediator, a transducer, and a reader device that converts a biological response into an electrical signal. They are commonly used to track illness progression, as well as to aid in drug discovery and forensic investigations. In addition, by monitoring frequent pathogenic processes in the body, these devices aid in the treatment of a variety of chronic and lifestyle problems.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Significant growth in the healthcare sector is driving the global market. In addition, the sector’s continuous technical improvements are producing a good picture for the market. For example, the widespread use of fluorescent tags and the increasing use of nanomaterials such as quartz and crystal to improve detection limit and sensitivity are driving market expansion. Significant investments in genomes and proteomics development by governmental and private bodies are also contributing to market expansion. Extensive research and development (R&D) operations in the field of biotechnology are also important growth drivers.
Breakup by Product:
- Wearable Biosensors
- Non-Wearable Biosensors
Breakup by Technology:
- Electrochemical Biosensors
- Optical Biosensors
- Piezoelectric Biosensors
- Thermal Biosensors
- Nanomechanical Biosensors
Breakup by Application:
- Blood Glucose Testing
- Cholesterol Testing
- Blood Gas Analysis
- Pregnancy Testing
- Drug Discovery
- Infectious Disease Testing
Breakup by End Use:
- Point of Care Testing
- Home Healthcare Diagnostics
- Research Laboratories
- Security and Biodefense
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abbott Laboratories
- AgaMatrix Inc. (WaveForm Technologies Inc)
- DuPont de Nemours Inc.
- F. Hoffmann-La Roche AG
- General Electric Company
- LifeScan Inc. (Platinum Equity LLC)
- Medtronic PLC
- Nova Biomedical Corporation
- PHC Holdings Corporation
- Siemens AG
- Thermo Fisher Scientific Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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