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.
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 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.
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.
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.
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.
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.
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 (2017-2021)
8.3 Global Biosensors Market Forecast (2022-2027)
8.4 Global Biosensors Market by Product
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
8.5 Global Biosensors Market by Technology
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.5.4 Thermal Biosensors
220.127.116.11 Market Share
18.104.22.168 Historical Trend (2017-2021)
22.214.171.124 Forecast Trend (2022-2027)
126.96.36.199 Market Share
188.8.131.52 Historical Trend (2017-2021)
184.108.40.206 Forecast Trend (2022-2027)
8.6 Global Biosensors Market by Region
8.6.1 Market Share
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 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
188.8.131.52 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
184.108.40.206 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
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
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 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
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.2 Abbott Laboratories Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
11.2.3 Biosensors International Group, Ltd.
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
11.2.4 Medtronic Inc.
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12 Industry Events and Developments
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.
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.
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