The global biosensors market was expected to reach a global value of US$ 24.5 billion in 2022. The estimated market growth from 2023 to 2033 is predicted to be substantially larger than the historical trend, with a compound annual growth rate (CAGR) of 9.5%. With a projected compound annual growth rate (CAGR) of more than 10.5% from 2023 to 2033, medical biosensors are predicted to be the segment that generates the most revenue.
Increases in biotechnology research and development, the prevalence of chronic illnesses like diabetes, and the need for homecare equipment are driving the biosensors industry. The market is growing as a result of the growing usage of biosensors in glucose monitoring systems. However, it is anticipated that resistance to adopting novel treatment devices and the high costs of these devices will hinder market expansion. On the other hand, advancements in biosensor technology that increase mobility are anticipated to propel market expansion.
Request Sample Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16430
Biosensors based on nanotechnology are anticipated to yield significant profits in a range of sectors, such as food analysis, imaging, and microbiological activity monitoring. The market is getting more consolidated due to the growing need for non-invasive biosensors, customized medications, medical equipment, and more cooperation and agreements among producers in research.
Because of their ability to assess fitness as well as the onset and progression of illness, biosensors are widely used in home-based healthcare by patients. As a result, the market is expected to expand throughout the forecast period. A variety of non-medical activities, as well as technological advancement, are expected to broaden its applicability and, as a result, support its growth. Pregnancy testing, cholesterol testing, blood glucose testing, and drug detection are some of the healthcare services that are expected to have a positive market impact.
Government projects aimed at improving proteomics and genomics are expected to drive the biosensors market during the forecast period.
Get Familiar With Our Methodology:
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-16430
Competitive Analysis
Because of the increased demand for biosensors, global manufacturers are accelerating and improving their manufacturing processes by implementing cost-effective solutions. A few of the key players in the biosensors market include Bio-Rad Laboratories Inc., Medtronic, Abbott Laboratories, Biosensors International Group, Ltd., Pinnacle Technologies Inc., Ercon, Inc., DuPont Biosensor Materials, Johnson & Johnson, Koninklijke Philips N.V., LifeScan, Inc., QTL Biodetection LLC, Molecular Devices Corp., Nova Biomedical, Molex LLC, TDK Corporation, Zimmer & Peacock AS, and Siemens Healthcare.
Some of the recent developments of key Biosensors providers are as follows:
- In January 2022, Roche and Sysmex agreed to a Global Business Partnership (GBP) to provide haematological diagnostic services. The new collaboration will use IT technology to improve clinical decision-making and the consumer experience. This long-running, fruitful collaboration is still going strong, providing haematological diagnostic improvements to labs worldwide.
- In December 2020, Abbott announced that FreeStyle Libre 2, its next-generation sensor-based glucose monitoring device, has been approved by Health Canada for adults and children (4 years and older) with diabetes.
Market Segments Covered in Biosensors Market Analysis
By Product Type:
- Medical
- Cholesterol
- Blood Glucose
- Blood Gas Analyzer
- Pregnancy Testing
- Drug Discovery
- Infectious Disease
- Food Toxicity
- Bioreactor
- Agriculture
- Environment
- Others
By Technology:
- Thermal
- Electrochemical
- Piezoelectric
- Optical
By End-Use:
- Home Healthcare Diagnostics
- PoC Testing
- Food Industry
- Research Laboratories
- Security & Biodefense
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East and Africa (MEA)
Detailed Market Insights: Purchase Now to Access:
https://www.futuremarketinsights.com/checkout/16430
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
