Market Definition
Biosensors is a medical devices designed primarily for the detection or measurement of biological substances like biomolecules or microorganisms. These analytical tools are capable of converting biological responses into electrical signals. Comprising three essential components namely, an analyte-identifying unit generating signals, a signal transducer, and a reader device biosensors have diverse applications in areas such as food and beverages, environmental monitoring, and home care diagnostics. They are also utilized in nanomechanical biosensors. Furthermore, biosensor applications extend to plant biology, where they play a crucial role in studying metabolic processes.
Market Outlook
The global Biosensors market was valued at approximately USD 26.4 billion in 2022 and it is anticipated to grow further to nearly USD 51.5 billion by 2032, at a CAGR of 6.9% during the forecast period.
The biosensors market is experiencing significant growth driven by a surge in demand for portable biosensors in the Asia Pacific and European regions. The increasing awareness of the importance of rapid and accurate diagnostics, coupled with the growing prevalence of chronic diseases, has fueled the adoption of biosensors. The portability of these devices offers a convenient and efficient solution for point-of-care testing, enabling healthcare professionals to quickly obtain real-time information. Additionally, the rise in health-conscious consumers and the need for continuous monitoring further contribute to the market expansion. As these regions continue to prioritize advancements in healthcare technology, the biosensors market is poised for sustained growth, with portable biosensors playing a pivotal role in shaping the industry landscape.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segments
By Type
- Wearable biosensors
- Non-wearable biosensors
By Technology
- Electrochemical
- Optical
- Thermal
- Piezoelectric
- Others
By Application
- Blood glucose testing
- Cholesterol testing
- Blood gas analysis
- Pregnancy testing
- Drug discovery
- Infectious disease testing
- Others
By End-User
- Point of care testing
- Home healthcare diagnostics
- Research laboratories
- Others
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Major Players in the Global Biosensors Market
The key players studied in the report are Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Ascensia Diabetes Care Holdings AG, Biosensors International Group, Ltd, Siemens Healthineers AG, Bio-Rad Laboratories, Inc, among others.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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