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The global biosensors market stood at a value of around USD 20.93 billion in 2020. The market is expected to grow at a CAGR of 8.9% in the forecast period of 2023-2028 to attain a value of around USD 34.6 billion by 2026.
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.
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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.
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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. The device comprises a transducer and a biological component such as an enzyme, which reacts upon interaction with a biological analyte. This biological reaction is converted into an electrical signal by the transducer. Biosensors are used in multiple ways and can, therefore, be referred to as immunosensor, optrodes, glucometers, biocomputers and biochips, among others. Some commonly found biosensors include store-bought pregnancy tests and glucose detectors.
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By product, the market is bifurcated into:
On the basis of technology, the industry can be categorised into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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.
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:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Technology, Region|
|Breakup by Product||Wearable, Non-Wearable|
|Breakup by Technology||Electrochemical, Optical, Piezoelectric, Thermal Biosensors, Nanomechanical|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||AgaMatrix Holdings LLC, Abbott Laboratories Inc., Biosensors International Group, Ltd., Medtronic Inc., Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Biosensors Market Analysis
8.1 Key Industry Highlights
8.2 Global Biosensors Historical Market (2018-2022)
8.3 Global Biosensors Market Forecast (2023-2028)
8.4 Global Biosensors Market by Product
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5 Global Biosensors Market by Technology
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.5.4 Thermal Biosensors
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.6 Global Biosensors Market by Region
8.6.1 Market Share
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
184.108.40.206 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
220.127.116.11 United States of America
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
18.104.22.168 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 AgaMatrix Holdings LLC
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
11.2.2 Abbott Laboratories Inc.
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
11.2.3 Biosensors International Group, Ltd.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
11.2.4 Medtronic Inc.
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Biosensors Market: Key Industry Highlights, 2018 and 2028
2. Global Biosensors Historical Market: Breakup by Product (USD Billion), 2018-2022
3. Global Biosensors Market Forecast: Breakup by Product (USD Billion), 2023-2028
4. Global Biosensors Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Global Biosensors Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Global Biosensors Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Biosensors Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Biosensors Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Biosensors Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Biosensors Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Biosensors Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Biosensors Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Biosensors Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Biosensors Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Biosensors Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Biosensors Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Biosensors Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Global Biosensors Market Structure
In 2020, the global biosensors market attained a value of nearly USD 20.93 billion.
The market is projected to grow at a CAGR of 8.9% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 34.6 billion by 2026.
The major drivers of the industry, such as 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, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid technological advancements and heightened investments in the R&D of biosensors technology.
The major regions in the industry 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 industry are AgaMatrix Holdings LLC, Abott Laboratories Inc., Biosensors International Groups Ltd., and Medtronic Inc., among others.
The global biosensors market attained a value of USD 20.93 billion in 2020, driven by the growing incidences of cancer and diabetes. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 8.9%. The market is projected to reach USD 34.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By products, the market can be distributed into wearable and non-wearable. On the basis of technology, the industry can be segmented into electrochemical, optical, piezoelectric, thermal biosensors, and nanomechanical. The major regional markets for biosensors are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include AgaMatrix Holdings LLC, Abott Laboratories Inc., Biosensors International Groups Ltd., and Medtronic Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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