Biosensors are analytical devices used for detection of chemical compounds, biomolecules and living cells. They comprise a biological component such as antibody, enzyme or nucleic acid as the bio-recognition element and a physiochemical component for signal transduction. Biosensors find applications in medical, environmental monitoring, food toxicity detection and biodefence. The growing demand for point-of-care testing has accelerated research and development of miniaturized, portable and disposable biosensors devices.
The Global Biosensors Market is estimated to be valued at US$ 340.44 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period of 2024 to 2030.
Key Takeaways
Key players operating in the Biosensors are Robert Bosch GmbH, Panasonic Corporation, Toshiba, Continental AG, Denso Corporation, Mitsubishi Electric Corporation,Texas Instruments Incorporated, Infineon Technologies AG, and Harman International. Key players are investing in R&D to develop new generations of biosensors enabled with artificial intelligence and miniaturization for wearable devices and point-of-care applications.
The key opportunities in the biosensors market are rising demand for home healthcare monitoring devices, increasing cases of chronic and lifestyle diseases, and growing geriatric population globally. Further, the use of biosensors is expanding for applications in food toxicity detection, bioprocess monitoring and biodefense which will drive future opportunities.
Globally, North America dominates the biosensors market followed by Europe and Asia Pacific. However, Asia Pacific is anticipated to witness highest growth owing to expanding medical infrastructure, rising healthcare expenditure and growing elderly population in countries like China and India. Key players are expanding their presence in emerging markets through partnerships with local diagnostic companies.
Market drivers: 1) Expanding applications of biosensing technologies in medical, industrial and biodefense applications. Point-of-care testing using biosensors provides real-time diagnostic reports and has accelerated demand. 2) Increasing prevalence of chronic and lifestyle diseases globally is driving demand for continuous health monitoring devices using biosensors.
Market restrain: 1) High costs associated with development and commercialization of advanced biosensors limits its widespread adoption. Miniaturization and mass production can help reduce costs. 2) Limited accuracy and reproducibility of results compared to traditional analytical techniques. Further R&D is required to achieve bench-top level precision, accuracy and reliability in portable biosensors.
Segment Analysis
The biosensors market is segmented into wearable biosensors, non-wearable biosensors, home healthcare diagnostics, research labs and others. Among these, the non-wearable biosensors segment dominated the market in 2024 as these devices are being widely used in testing parameters like blood glucose levels, cardiometabolic panels, drugs of abuse and pregnancy at homes. The demand is higher owing to rising incidence of lifestyle diseases and growing awareness levels regarding health and fitness.
Global Analysis
North America region accounted for the largest share in the global biosensors market in 2024 due to growing prevalence of chronic diseases, rising demand for point-of-care testing and presence of major market players in the region. However, Asia Pacific region is expected to witness the highest growth over the forecast period owing to increasing healthcare expenditures, rising R&D investments for development of novel biosensors and growing patient population in countries like India and China. The governments in emerging nations are undertaking various initiatives to modernize healthcare facilities which will further support market growth.
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The Biosensors Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the biosensors market includes Abbott Laboratories, AZUR Environmental, Bayer AG, Biosensor BV, Cranfield Biotechnology Centre, DuPont Biosensor Materials, EG & IC Sensors, Inc., Ercon, Inc., Innovative Biosensors Inc., Johnson & Johnson, LifeScan, Inc., Molecular Devices Corp., Pinnacle Technologies Inc., QTL Biosystems, Roche Diagnostics, Strategic Diagnostics and Sysmex Corporation.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Biosensors Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/biosensors-market/download-sampleMarket DynamicsRising geriatric population coupled with increase in demand for diagnosis of various chronic diseases is driving the market growth.
Rising patient preference towards point of care testing is likely to fuel the market growth.
Increasing demand for inexpensive, user-friendly and accurate diagnosis providing devices is likely to spur the market demand in clinics, hospitals and other end-user industries.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
