Report Scope & Overview:
Biosensors Market was valued at USD 28.80 billion in 2022 and is expected to expand at a CAGR of 7.9% from 2023 to 2030 and it will reach USD 52.93 billion in 2030.
Biosensors are devices that convert electrical signals into analytical information for biological samples such as tissues, and whole cells. It is expensive, simple, inexpensive, and convenient. Electrochemical detection is accomplished through potentiometric sensors, amperometry sensors, and behavioural metric sensors. It's commonly used in small machines for biological and non-biological matriculation. Factors such as population growth, technological advancement, an increase in the number of people with diabetes, and an increase in chronic and lifestyle-related diseases are driving the growth of the biosensor market.
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Biosensors are popular among adults.
Biosensors aided people who require long-term care.
Point-Of-Care (POCT) testing, which will increase the overall demand for biosensors.
Nanomaterials and Fluorescence tags has improved biosensor sensitivity.
High costs involved in biosensor research and development.
Healthcare is one of the most common applications for biosensors.
Introducing highly advanced biosensors takes a long time.
Accreditation and trading with biosensors can take up to five years for a company.
India, Brazil, China and other emerging economies are heavily investing in healthcare.
Rising health-care costs are expected to boost the growth of the biosensors industry.
Demand for low-cost biosensors is expected to rise in East asia And Africa.
Manufacturers encounter a series of regulatory challenges.
Manufacturers must submit performance data to the FDA in order for any new POC device to be approved in the United States.
IMPACT OF COVID-19:
Demand for products has been met in various industries as a result of partial and complete closures in various parts of the world. However, because biosensors save time and are simple to use in data collection, their popularity has skyrocketed during the epidemic. Being a valuable asset has significantly aided the biosensors market in avoiding the effects of COVID-19.
To begin with, many companies have suspended production or worked with only a few employees due to a complete shutdown. Furthermore, demand for the product fell in the first phase, resulting in a reduction in the number of employees or a reduction in wages. However, in response to the increased demand for speed sensors, many players, including Siemens Healthcare (Germany), Johnson & Johnson (US), Nova Biomedical Corporation (US), Medtronic (Ireland), and F. Hoffmann La Roche (Switzerland), have begun to ramp up production capacity. As a result, the market for Biosensors is expected to expand at a rapid pace during the forecast period.
Because of the increased use of these sensors in illegal real-time applications - monitoring the location of various production processes - a fraction of non-wear biosensors became the major market share of biosensors in 2019 and are expected to show a significant growth rate in the near future. Environmental monitoring, soil quality monitoring, water quality monitoring, self-defense toxicity, and a variety of other applications are also possible with these biosensors sensors.
During forecasting, the biosensor market for electrochemical technology has the largest share. Electrochemical biosensors are widely used in non-medical systems such as environmental monitoring and food and beverage quality control. The glucose sensor is the most common type of electrochemical biosensor and is currently used in all care and home diagnostic applications. Indirect monitoring using electrochemical biosensor sensors can be used to detect live pesticides or inanimate objects that disrupt the nerve's biocatalytic features. This includes monitoring heavy metals, fluoride, cyanide, and other important contaminants in industrial and surrounding areas.
Food & Beverages
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North America had the largest share of the biosensors market, followed by Europe. Increased government funding for research into the development of advanced biosensors for a variety of applications is one of the factors driving the market growth of biosensors in North America. Furthermore, the region's increased use of biosensors to monitor food quality parameters is expected to contribute to market growth. Moreover, the growing demand for POC technology in North America focuses on quick, simple, accurate, portable, and cost-effective analysis tools that promote the region's biosensor market growth. Asia-Pacific, on the other hand, is expected to grow at a much faster rate during the forecast period. This is due to the region's increased R&D in biotech. Rise in per capita income in many countries, increased government programmes to improve the healthcare sector, and increased focus on leading manufacturers to increase their local presence in emerging markets are major factors driving the growth of the Asia-Pacific biosensors market. Asia-Pacific countries will benefit from rapid market growth.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
KEY PLAYERS :
The major key players in Global Biosensors Market are Abbott Laboratories, Bayer AG, AZUR Environmental, Biosensor BV, DuPont Biosensor Materials, Cranfield Biotechnology Centre, Pinnacle Technologies Inc., Johnson & Johnson, Ercon, Inc., EG & IC Sensors, Inc., Strategic Diagnostics, Innovative Biosensors Inc., Sysmex Corporation, LifeScan, Inc., QTL Biosystems, Molecular Devices Corp., Roche Diagnostics, and Other.
Biosensor BV-Company Financial Analysis
|Market Size in 2022||US$ 28.80 Billion|
|Market Size by 2030||US$ 52.93 Billion|
|CAGR||CAGR of 7.9% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product (Wearable Biosensors, Non- Wearable Biosensors)
• By Type (Sensor Patch, Embedded Device)
• By Technology (Piezoelectric Biosensors, Thermal Biosensors, Electrochemical Biosensors, Optical Biosensors , Nanomechanical Biosensors)
• By Application (Medical Testing, Industrial Process, Agricultural Testing, Home ,Diagnostics, Research Labs, Environmental Monitoring, Food & Beverages, Biodefense)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Abbott Laboratories, Bayer AG, AZUR Environmental, Biosensor BV, DuPont Biosensor Materials, Cranfield Biotechnology Centre, Pinnacle Technologies Inc.|
|Key Drivers||• Biosensors are popular among adults.
• Biosensors aided people who require long-term care.
|RESTRAINTS||• High costs involved in biosensor research and development.
• Healthcare is one of the most common applications for biosensors.
Biosensors Market size was valued at 26.7 billion in 2021 at a CAGR of 7.6%.
India, Brazil, China, and other emerging economies are heavily investing in healthcare and Rising healthcare costs are expected to boost the growth of the biosensors industry are the opportunities in the Biosensors market.
In the Biosensors Market, North America commands the largest market share.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Biosensors Market Segmentation, by Product
8.2 Wearable Biosensors
8.3 Non- Wearable Biosensors
9. Global Biosensors Market Segmentation, by Type
9.2 Sensor Patch
9.3 Embedded Device
10. Global Biosensors Market Segmentation, By Technology
10.2 Piezoelectric Biosensors
10.3 Thermal Biosensors
10.4 Electrochemical Biosensors
10.5 Optical Biosensors
10.6 Nanomechanical Biosensors
11. Global Biosensors Market Segmentation, By Application
11.2 Medical Testing
11.3 Industrial Process
11.4 Agricultural Testing
11.5 Home Diagnostics
11.6 Research Labs
11.7 Environmental Monitoring
11.8 Food & Beverages
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Abbott Laboratories
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Bayer AG
13.3 AZUR Environmental
13.4 Biosensor BV
13.5 DuPont Biosensor Materials
13.6 Cranfield Biotechnology Centre
13.7 Pinnacle Technologies Inc
13.8 Johnson & Johnson, Ercon, Inc
13.9 EG & IC Sensors, Inc.,
13.10 Strategic Diagnostics
13.11 Innovative Biosensors Inc.,
13.12 Sysmex Corporation
13.13 LifeScan, Inc.,
13.13 QTL Biosystems,
13.15 Molecular Devices Corp
13.16 Roche Diagnostics
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
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Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
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