The healthcare sector is making relentless strides to assess health status, the onset and progression of various diseases, and monitor treatment procedures through non-invasive methods. Nanobiosensors have the potential to fulfill these criteria and have attracted the attention of the healthcare industry due to their multifunctional character. Nanobiosensors are analytical devices which are used for molecular detection of biomarkers and other diagnosis and detection purposes. Market Research Future (MRFR) has added a report on the global nanobiosensors in healthcare market to its existing portfolio of reports, which examines the market and its future trajectory over the forecast period of 2019-2024. MRFR's analysis has projected a CAGR of 9.84% in the nanobiosensors in healthcare market over the forecast period.
Intensifying need to develop disease diagnosis and treatment has resulted in the use of nanotechnology in healthcare applications, as it offers unique prospects for the development of the sector. Nanobiosensors are capable of identifying minute biological elements with enhanced sensitivity, specificity, and reliability at the molecule or cell level. Increasing prevalence of chronic diseases and the shift of the healthcare industry towards smart technologies is favoring the growth of the nanobiosensors market.
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On late, researchers across the globe, have exhibited great interest in nanobiosensors and are backed by the governments of multiple countries in the form of R&D grants, which is likely to present growth opportunities to the nanobiosensors in healthcare market.
Concurrently, the growth of the nanobiosensors in healthcare market is likely to be disrupted by high cost of nanobiosensors and unfavorable reimbursement policies.
Competitive Landscape
Biosensors International Pte. Ltd., Bio-Rad Laboratories, Inc., Medtronic Inc., Nano-Proprietary, Inc., Pharmaco-Kinesis Corporation, Lifesensors, Inc., ACON Laboratories, Inc., F. Hoffman-LA Roche Ltd., bbott Point of Care, Inc., Illuminex Corporation, Bayer Healthcare AG, Lifescan, Inc., and Sysmex Corporation are the eminent players in the global nanobiosensors in healthcare market.
Segmentation
The nanobiosensors in the healthcare market has been segmented based on Type, Application, and End user.
- By Type, the nanobiosensors in healthcare market has been segmented into optical nanobiosensors, electrochemical nanobiosensors, acoustic nanobiosensors, and others. The electrochemical nanobiosensors segment is likely to capture the largest share of the market on account of its real-time detection and high-sensitivity features.
- By Application, the nanobiosensors in healthcare market has been segmented into diabetes, immunoassay, cancer, pathogenic bacteria, and others.
- By End user, the nanobiosensors in healthcare market has been segmented into hospitals and clinics, diagnostic centers, point of care, and others. The point of care segment is estimated to dominate the market over the forecast period.
Regional Analysis
Region-wise, the nanobiosensors in healthcare market has been segmented into the Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
The Americas has attained the foremost position in the global nanobiosensors in healthcare market. The surge in the prevalence of various chronic diseases in the region has evoked serious efforts to achieve disease control in the region. The tendency of the region to adopt new technologies at a relatively faster rate has resulted in the exploration of new perspectives on disease eradication, which has led to increased demand for biosensors in the healthcare sector. High healthcare expenditure and government support are other growth drivers.
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Europe is following the Americas' lead in the global nanobiosensors in healthcare market. A robust healthcare sector, the outbreak of various chronic diseases, and rigorous R&D efforts supported the governments in the region are underpinning the growth of the market.
APAC is poised to exhibit the highest CAGR over the forecast period. Given the rapid spread of diseases in the region, the governments of the developing countries are endeavoring towards the modernization of the healthcare sector to curb disease transmission and growth, which has reflected positively on the nanobiosensors in healthcare market.
Underdevelopment of the healthcare sector, lack of technical knowledge, and inadequate medical facilities are hindering the growth of the nanobiosensors market in MEA.
