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Report Overview

The global biosensors market value was USD 7.50 Billion in 2023, driven by the growing demand for point-of-care testing across the globe. The market size is anticipated to grow at a CAGR of 6.40% during the forecast period of 2024-2032 to achieve a value of USD 13.11 Billion by 2032.

2023

Base Year

2017-2023

Historical Year

2024-2032

Forecast Year

Wearable Segment to Account for a Substantial Share of the Global Biosensors Industry

Based on product, the wearable segment is expected to hold a significant share in the global biosensors industry in the forecast period. This growth can be attributed to the rising incidences of diabetes and cardiovascular diseases, which require regular monitoring and instant diagnostics. These are portable and allow people to have a home-based diagnosis, which is cost-effective and reduces the time required for the diagnosis. In addition, through wearable biosensors, patients can keep track of their real-time health situation, which helps in effective treatment and early detection of diseases, which could reduce the mortality risk.

Biosensors Market

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North America to Exhibit a Significant Growth in the Global Biosensors Industry

The North America region is predicted to occupy a considerable share of the global biosensors industry. This surge can be attributed to the increased implementation of biosensors in the region. In addition, this growth is due to the rising incidences of illnesses, which can be tracked and monitored by biosensors in the region, such as diabetes. According to the statistics provided by the American Diabetes Association, diabetes is the 7th primary cause of death in the United States, and around 1.5 million Americans are diagnosed with diabetes every year. In addition, the growing use of biosensors in the food and beverage industry has further boosted the market share of the region in the global biosensors industry.

Biosensors: Market Segmentation

Biosensors are self-containing analytical devices that are used to detect the presence of a biological analyte. It recognises the analyte and produces a measurable signal.

By product, the market is bifurcated into:

  • Wearable 
  • Non-Wearable

On the basis of technology, the industry can be categorised into:

  • Electrochemical 
  • Optical
  • Piezoelectric
  • Thermal Biosensors
  • Nanomechanical

Market Breakup by Component:

  • Bioreceptor Molecule
  • Biological Element
  • Transducer

Market Breakup by Application:

  • POC
  • Home Diagnostic
  • Research Labs
  • Environmental Monitoring
  • Food and Beverages
  • Biodefence

Market Breakup by End User:

  • Home Healthcare Diagnostics
  • POC Testing
  • Food Industry
  • Research Laboratories
  • Security and Biodefence

Market Breakup by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Biosensors Market By Segments

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Rapid Technological Advancements and the Rising Instances of Chronic Illnesses to Bolster the Growth of the Global Biosensors Industry

Biosensors are increasingly being utilised in biomedicine, food safety standards, defence , security, and environmental monitoring, and with rapid advancements, the biosensor devices have become extremely helpful in the healthcare sector. Emerging trends of nanotechnology-based biosensors have increased the sensitivity limit of biosensors. Furthermore, the rising spread of chronic diseases such as cancer, diabetes, and other cardiovascular diseases has increased the demand for biosensors in the market, such as biosensors for blood glucose monitoring, pregnancy tests, and cholesterol monitoring. In addition, with the advent of coronavirus and its rapid spread, consumers are investing in oximeters, which are biosensors that monitor oxygen and blood pressure levels. These are some of the factors that are expected to impact the overall growth of the biosensors industry positively.

Biosensors Market By Region

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Key Industry Players in the Global Biosensors Market

The report gives a detailed analysis of the following key players in the global biosensors market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • AgaMatrix Holdings LLC
  • Abott Laboratories Inc.
  • Biosensors International Groups Ltd.
  • Medtronic Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Technology
  • Component
  • Application
  • End User
  • Region
Breakup by Product
  • Wearable
  • Non-Wearable
Breakup by Technology
  • Electrochemical
  • Optical
  • Piezoelectric
  • Thermal Biosensor
  • Nanomechanical
Breakup by Component
  • Bioreceptor Molecule
  • Biological Element
  • Transducer
Breakup by Application
  • POC
  • Home Diagnostic
  • Research Labs
  • Environmental Monitoring
  • Food and Beverages
  • Biodefence
Breakup by End User
  • Home Healthcare Diagnostics
  • POC Testing
  • Food Industry
  • Research Laboratories
  • Security and Biodefence
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • AgaMatrix Holdings LLC
  • Abbott Laboratories Inc.
  • Biosensors International Group, Ltd.
  • Medtronic Inc.
  • Bio-Rad Laboratories Inc.
  • Pinnacle Technologies Inc.
  • Ercon, Inc.
  • Dupont Biosensors Materials
  • Koninklijke Philips N.V.
  • Qtl Biodetection Llc.
  • Molecular Devices Corporation
  • Nova Biomedical
  • Molex Llc
  • Zimmer & Peacock As
  • Siemens Healthcare

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Biosensors Market Report Snapshots

Biosensors Market Size

Biosensors Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The biosensors market was valued at USD 7.50 Billion in 2023.

The market is expected to grow at a CAGR of 6.40% from 2024 to 2032 to reach a value of USD 13.11 Billion by 2032.

The major drivers of the market include the increased demand for biosensors like oximeters, the growing concerns of cancer and diabetes, favourable properties such as user-friendly interface and portability, rapidly growing geriatric population, and multifaceted application possibilities of the biosensor technology.

The key trends guiding the growth of the market include the rapid technological advancements and heightened investments in the R&D of biosensors technology.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant product segments include wearable and non-wearable.

The major segments based on technology include electrochemical, optical, piezoelectric, thermal biosensors, and nanomechanical.

The major players in the market are AgaMatrix Holdings LLC, Abott Laboratories Inc., Biosensors International Groups Ltd., and Medtronic Inc., among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124