Market Highlights

The Global Biosensors Market Size Is Expected to Have A Market Value Of USD 38,778.80 Million By 2027.

Biosensors are devices used to provide analytical information by biological samples, such as tissues, enzymes, and whole cells, to an electrical signal. They are cost-effective, user-friendly, simple, disposable, and convenient. Potentio metric sensors, amperometry sensors, and conduct metric sensors are modes of electrochemical detection. They are usually used in miniaturized devices and for the detection of biological and non-biological matrices. The growth of the global Biosensors Market Size is driven by factors such as the rising aging population, technological advancements, increasing diabetic population, and growing prevalence of chronic and lifestyle-induced diseases. In addition, the increasing demand for personalized medicine creates a lucrative opportunity for the market. However, stringent regulatory guidelines for product approvals, coupled with reimbursement challenges are likely to restrain the market growth.

Key Players:

Some of the key players in the biosensors market are Johnson & Johnson (US), Abbott (US), Bayer AG (Germany), Siemens (Germany), Life Sensors, Inc. (US), Nova Biomedical Corporation (US), Medtronic plc (Ireland), F. Hoffmann Roche (Switzerland), i-Sens, Inc. (South Korea), and Pinnacle Technologies Pvt. Ltd. (US).

Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/1228

Segment Analysis:
The global biosensors market size has been segmented into technology, application, and end user.

The technology segment is segmented into electrochemical biosensors, optical biosensors, thermal biosensors, and piezoelectric biosensors.

The applications segment is segmented into medical testing, food toxicity, industrial process, environmental, and agricultural testing.

The end user segment is categorized into point-of-care, home diagnostics, research laboratories, food industry, security, and biodefense.

Regional Analysis:

The global biosensors market size, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World

The North American market accounted for the largest share in 2019 and is expected to increase at a CAGR of 8.10% during the forecast period. This is due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.

Europe showed for a market size of USD 1,438.04 million in 2019and is expected to exhibit a CAGR of 7.42% during the forecast period. The market growth is attributed to the rise in the geriatric population, increased lifestyle-associated diseases, growing public awareness of various diseases, and diagnostic requirements. The growing cases of diabetes is one of the key factors affecting market growth. For instance, according to the International Diabetes Federation (IDF), in 2018, approximately 32.7 million people had diabetes in Europe.

The biosensors market in the Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific. Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2020to 2027 at a CAGR of 9.02%. Factors such as increasing awareness of clinical outcomes, large population base, rise in geriatric population, increased diabetic population, and rising environmental pollution concerns drive the regional market growth here.

The Rest of the World is categorized into the Middle East, Africa, and Latin America. The market growth is less due to slowly improving economies. In the Middle East and Africa, the growing aging population, rise in the diabetic population, and increasing prevalence of lifestyle-associated diseases drive the growth of the biosensors market. Furthermore, rising awareness about food toxicity and environmental pollution, improving healthcare facilities, and rising disposable income are likely to boost the market growth.

Key Findings of the Study:

• The global biosensors market size is estimated to reach USD 38,778.80 million by 2027 at a CAGR of 7.95% during the assessment period of 2020to 2027.
• North America reported the largest share of the global biosensors market due to the presence of prominent players in the US, increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.
• Based on technology, the electrochemical biosensors segment accounted for the largest market share of 61.42% in 2019.
• On the basis of application, the medical testing segment held the highest share of 27%, while the agricultural testing segment is expected to be the fastest-growing segment during the forecast period at a CAGR of 8.96%.
• Based on end user, the point-of-care segment dominated the market with a share of 61.27%in 2019

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/biosensor-market-1228

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com