Biosensor Market Research Report: Information By Technology (Electrochemical Biosensors, Optical Biosensors, Thermal Biosensors and Piezoelectric Biosensors), By End User (Point of Care, Home Diagnostics, Research Laboratories, Food Industry and Security and Biodefense), By Application (Medical Testing, Food Toxicity, Industrial Process, Environmental and Agricultural Testing) - Forecast till 2027
Overview
The global biosensor market will grow at a CAGR of 9.7% during the forecast period 2019 to 2025. The market for biosensor is set to reach USD 35,729.14 million by 2025. As per market analysts, the global market is anticipated to witness growth owing to the factors such as the rising aging population as well as rapidly increasing diabetic population. However, the market will face challenges and restraints due to strict regulatory requirements and unfavorable reimbursement policies during the forecast period 2019 to 2025.
The rising prevalence of chronic and lifestyle-induced disease in the market will support the growth. As per market analysts, the market-based companies will face certain challenges during the 2019 to 2025. The market research report provides in-depth analysis of the technology, end-users, and applications segments. The biosensor market research report presents factors such as reimbursement policies issues in healthcare systems that could slow down the market's growth.
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Market Segmentation
The biosensor market has been segmented into technology, end-users, and applications. Based on the segment which is technology, the market is categorized on the basis of electrochemical biosensors, optical biosensors, piezoelectric biosensors, and thermal biosensors. The global market for biosensor is further segmented based on end-users into biodefense, food industry and security, home diagnostics, point of care, and research laboratories. Furthermore, the market, on the basis of applications is segmented into agricultural testing, environmental, food toxicity, industrial process, and medical testing.
The market report offers comprehensive study of the market segments including technology, end-users, and applications. The analysts have also studied the market's spread across the regional markets across many of the market’s segments at country levels. The technology, end-users, and applications segments spread across the market along with the subsegments are studied. The global market for biosensor is spread across various product and service-based segments. The market research report highlights these key segments and offers forecasts based on primary and secondary data. The global market research report presents key company profiles of organizations active across the market.
Regional Overview
The severity in regulatory requirements may hinder the market growth. The market research report suggests that companies in the market could be supported by increasing demand for POCT as well as increasing application of biosensors during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per market analysts, the market is set to witness tremendous growth across technology, end-users, and applications segments. The global market’s North American region covers markets across the United States, Mexico, Canada, and others. Businesses present in the biosensor market are also profiled and their strategies have been presented in detail in the market research report.
The market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the market research report provides details about the APAC region covering biosensor markets from China, India, Australia, Japan, and others. The market is also active across several other parts of the world. The market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global market.
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Competitive Landscape
Biosensor has seen tremendous growth, due to increasing demand of personalized medicine and the increasing product inventions factors. However, poor compensation plans and strict regulations would challenge the companies active in the market. Furthermore, companies using growth strategies to stay ahead in the global market are expected to help the market during the forecast period 2019 to 2025. As the market report suggests that the market will register a CAGR of 9.7% and reach a USD 35,729.14 million by 2025, the market report highlights key areas biosensor market-based companies need to focus on. The market research report projects a long-term growth till 2025. Based on market’s analysis on the basis of SWOT and Porters’ Five Force Model, the biosensor market will rise during the forecast period 2019 to 2025, however the companies need to move ahead with caution. The biosensor market research report highlights such key areas.
Industry News
The Farfield Group has completed its purchase of Thermo Electron's (Waltham, MA) evocative mirror optical biosensor company for an unspecified sum of its properties (known colloquially as Affinity sensors). As per Farfield, this acquisition will enhance its market presence in Life Science and represent the Farfield Group strategy of offering a complete services and products portfolio, in conjunction with its proprietary dual-waveguide software, including target protein and feature localization measuring instruments.
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