According to Future Market Insights' newly released Biosensors Market analysis report, the global market size of the Biosensors Market in 2022 was held at US$ 24.5 Billion. The predicted market growth is expected to be much larger than the historical trend, with a CAGR of 9.5% from 2023 to 2033. Medical biosensors are likely to be the most profitable market, with a CAGR of more than 10.5% from 2023 to 2033.
The biosensors market is being driven by an increase in chronic illnesses such as diabetes, an increase in biotechnology research and development, and an increase in demand for homecare equipment. The increased use of biosensors in glucose monitoring systems has resulted in market expansion. However, market growth is expected to be hampered by the high costs associated with these devices, as well as a lack of willingness to embrace new treatment devices. Improvements in biosensor technology, on the other hand, that add portability, are expected to drive market growth.
Nanotechnology-based biosensors are expected to be profitable in a variety of industries, including food analysis, imaging operations, and microbial activity monitoring. The market is consolidating as a result of the increasing popularity of medical equipment and customised drugs, as well as a greater demand for non-invasive biosensors and increased research collaboration and agreements among various producers.
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.
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Future Market Insights, in its new offering, presents an unbiased analysis of the Biosensors Market, presenting historical market data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
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
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.
