Biosensors Market Expected to reach $38,600.2 Million by 2026 | Size, Share and Industry Forecast
Significant increase in chronic diseases such as diabetes across the globe, increase in biotechnology research and development, and growing demand for home care devices are the major factors fueling the growth of the biosensor market. Additionally, significant rise in preference of biosensors in glucose monitoring devices is contributing to the growth of the market. High costs associated with these devices and inclination to adopt new treatment devices are the major factors hindering the growth of the market. Conversely, technological advances in biosensors making them portable and easy to handle are expected to create lucrative opportunities in the future.
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Allied Market Research published a report, Biosensors Market was valued at $17,500.0 million in 2018 and is expected to reach $38,600.2 million by 2026, registering a CAGR of 10.4% from 2019 to 2026. Biosensors are medical devices primarily used to detect or detect the presence or concentration of biological substances or microorganisms such as biological substances. They are analytical devices that can convert a biological response into an electrical signal.
A biosensor mainly consists of three parts, including a component that detects the analyte and generates a signal, a signal transducer, and a reader device. Biosensors find their applications in food and beverages, environmental monitoring, home care diagnostics. and various nanomechanical biosensors. In addition, biosensor applications to study metabolic processes are also widely prevalent in the field of plant biology.
The market is segmented on the basis of product, technology and region. On the basis of product, the global biosensor market is segmented into wearable biosensors and non-wearable biosensors. On the basis of technology, the market is classified into electrochemical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors, and nanomechanical biosensors. By region, it is analyzed in North America, Europe, Asia-Pacific and LAMEA.
Major factors driving the growth of the biosensor market in Asia-Pacific include rise in per capita income in several countries, rise in government initiatives to improve the healthcare sector, and increase in focus of leading manufacturers on expanding their geographical presence among emerging manufacturers. Asia-Pacific countries will exploit the high growth opportunities in the market.
Key Benefits
· The biosensors market share and analysis is based on a comprehensive analysis of key developments in the Biosensors industry.
· The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global biosensors market.
· The study provides an in-depth analysis of the market trends to elucidate the imminent investment pockets.
· The global biosensors market trends are studied from 2018 to 2026.
· Information about key drivers, restrains, and opportunities and their impact analysis on the biosensors market size is provided.
· Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
· The quantitative analysis of the global biosensors market from 2019 to 2026 is provided to determine the market potential.
Leading Market Players:
Comprehensive competitive analysis and profiles of major market players such as Some of the key players of the market include
· Abbott Laboratories,
· AgaMatrix Holdings LLC,
· DowDupont Inc. (DuPont de Nemours, Inc.),
· F. Hoffmann-La Roche Ltd.,
· General Electric (Biacore, Inc.),
· LifeScan, Inc.,
· Medtronic Plc.,
· Nova Biomedical,
· PHC Holdings Co., Ltd. (Ascensia Diabetes Care Holdings AG)
· Siemens Healthcare
