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Global Biosensors Industry Report: Regional Analysis; Key Segmentation and Scope; Industry Opportunities and Challenges; Market Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Industry Events and Developments; Competitive Landscape, 2022-2027

Biosensors Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Biosensors market reached a value of about USD 22.79 billion in 2021. The industry is projected to grow at a CAGR of around 8.9% in the forecast period of 2022-2027 to reach a value of about USD 38.02 billion by 2027.

The global Biosensors industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The application of the product in various end-user industries propels the industry forward. North America is the highest category spender by region that is driving the demand for the Biosensors industry.

Industry Definition and Segmentation

Biosensors are analytical tools that may be used to independently determine if a biological analyte is present, which are instruments with a biological component and a physicochemical detector. The three primary components of a biosensor are a signal-generating component that recognises the analyte, a signal transducer, and a reading device. Electrical systems and devices based on nanomaterials have been combined to create nano-electromechanical designs. The Biosensors industry report comprises segments by Product (Wearable, Non-Wearable), Technology (Electrochemical, Optical, Piezoelectric, Thermal Biosensors, Nanomechanical), and Region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

North American Region is Driving the Industry Growth

North America holds the largest share in the industry due to the growing use of biosensors in the area. In addition, the region's increasing prevalence of diseases like diabetes that can be tracked and monitored by biosensors is furthering the market's potential. Also, the expanding usage of biosensors in the food and beverage sector is augmenting the industry's expansion.

The various applications of the product are driving the market as they are being used more often in biomedicine, food safety regulations, defence, security, and environmental monitoring. In addition, owing to quick technological improvements, biosensor devices are now very useful in the healthcare industry. Additionally, the market demand for biosensors, such as those for blood glucose monitoring, pregnancy testing, and cholesterol monitoring, has grown due to the growing prevalence of chronic illnesses, including cancer, diabetes, and other cardiovascular diseases, which is furthering the industry's growth.

Despite this, the high price of these devices and the lack of adoption of new treatment devices are the main things that are anticipated to restrain market expansion.

Best Procurement Practices

The global Biosensors industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Biosensors regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

A biosensor incorporates a bio-receptor (such as an enzyme, antibody, cell, nucleic acid, or aptamer), a transducer component (such as a semi-conducting substance or nanomaterial), and an electrical system that comprises a signal amplifier, processor, and display. Electronics and transducers can operate together, for example, in CMOS-based microsensor systems. The recognition part, or a bioreceptor, interacts with the target analyte using biomolecules from living things or receptors developed to resemble biological systems. The biotransducer, which creates a detectable signal proportionate to the presence of the target analyte in the sample, measures this interaction. The central objective of a biosensor's design is to provide rapid, practical testing at the point of care or concern where the sample was obtained.

Product Developments, Further Augmenting the Procurement of Biosensors

The industry is being aided by the rise in demand for disposable, simple-to-use, and affordable gadgets. Due to their capacity to satisfy these requirements through an interdisciplinary mix of chemistry, nanotechnology, and medical research techniques, these devices have advanced quickly in the realm of medicine. Furthermore, Nanotechnology-enhanced biosensors are anticipated to be highly profitable in various industrial applications, including food analysis, imaging processes, and microbial activity monitoring. The market is consolidating due to the growing demand for non-invasive biosensors, customised pharmaceuticals, and medical equipment, as well as agreements and research collaboration between various firms. Additionally, innovative biosensors that accelerate the healing process of wounds are now in the development stage. Therefore, increasing public and private financing for creating cutting-edge next-generation biosensing devices for medical applications is anticipated to fuel market expansion in the coming years.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Biosensors Industry Report

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

Market Landscape

Global producers are accelerating their manufacturing processes and revamping them by utilising cost-effective alternatives in response to the spike in demand for biosensors. Leading companies in the market are imposing greater product quality to retain the spike in demand from various biosensor applications. These market players are utilising multiple growth methods to enhance their product range and extend their market footprint to reap high-profit levels and extend the organisation's consumer portfolio.

Key Initiatives by Companies

  • Abbott stated in April 2021 that retailers all over the United States would be receiving their BinaxNOW COVID-19 Ag self-test.
  • To provide haematological testing solutions, Roche and Sysmex inked a Global Business Partnership Agreement (GBP) in January 2021. The new understanding intends to enhance healthcare decisions and consumer experiences using IT systems. This productive, established cooperation is still growing, and new haematology testing procedures are introduced to labs worldwide.

1    Preface
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

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Biosensors Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Biosensors Historical Market (2017-2021) 
    8.3    Global Biosensors Market Forecast (2022-2027)
    8.4    Global Biosensors Market by Product
        8.4.1    Wearable
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Non-Wearable
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Biosensors Market by Technology
        8.5.1    Electrochemical
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Optical
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Piezoelectric
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Thermal Biosensors
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Nanomechanical
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2017-2021)
            8.5.5.3    Forecast Trend (2022-2027)
    8.6    Global Biosensors Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    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
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Abbott Laboratories Inc.
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Biosensors International Group, Ltd.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Medtronic Inc.
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Others
12    Industry Events and Developments

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Key Questions Answered in the Report

The global Biosensors market size was valued at USD 22.79 billion in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 8.9%.

The significant demand for the product in the healthcare industry is one of the essential drivers of the Biosensors market growth.

AgaMatrix Holdings LLC, Abbott Laboratories Inc., Biosensors International Group, Ltd., Medtronic Inc., and others are some of the major players in the market.

The Biosensors industry's North American region holds a significant market share.

Analyst Review

The global Biosensors market attained a value of USD 22.79 billion in 2021, driven by the various applications of the product as they are being used more often in biomedicine, food safety regulations, defence, security, and environmental monitoring. Aided by the growing product advancements, including Nanotechnology-enhanced biosensors, non-invasive biosensors, and innovative biosensors that accelerate the healing process of wounds, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 8.9%. The market is projected to reach USD 38.02 billion by 2027. AgaMatrix Holdings LLC, Abbott Laboratories Inc., Biosensors International Group, Ltd., Medtronic Inc., and others are leading players in the industry.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.

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