Biosensors Market 2020 Market Research Trends
Biosensors convert the biological response into electrical signal and are used for detecting the presence of biological and biochemical molecules and structures. Increasing prevalence of infectious diseases, rising investment in discovery of new drugs, stringent environment regulation, growth of smart agriculture, and expansion of food processing industry are the key dynamics governing the growth of the global biosensors market. The biosensors are extensively use in wide range of healthcare applications such as blood glucose monitoring, cholesterol monitoring, pregnancy test, and assists in the process of drug discovery. The adoption of biosensors is gaining momentum in other application such as food toxicity measurement, soil testing and fungus detection, and monitoring of pollutants in air, soil, and water. Additionally, increasing awareness and rising penetration in low-income and mid-income countries is anticipated to fuel the growth of biosensors market in coming years.
North America contributed the largest share to the global biosensors market in 2019 and is anticipated to be the dominating geography during the forecast period. Prevalence of infectious diseases, strong presence of analytical equipment and diagnostic equipment manufacturers, high penetration of biosensors in environment applications and food processing industry are the major factors driving the growth of biosensors market in North America. Asia Pacific is anticipated to be the fastest growing market during the forecast period owing to expansion of electro medical device manufacturing industry and increasing prevalence of infectious diseases. Additionally, rising adoption in environmental application fueled by stringent regulation for environment protection is anticipated to contribute significantly to the growth of Asia Pacific biosensor market.
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The report titled “Biosensors Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global biosensors market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Roche Diagnostics reported revenues of USD 6,3392.6 million in 2019 and the product segment analysis of the company indicates that Pharmaceuticals business division of the company dominated revenue in 2019.
The global biosensors market is segmented based on product type, technology, application, end use, and geography. Based on product type, the global biosensors market is segmented into embedded biosensors, and patch biosensors. Based on technology, the global biosensors market is segmented onto electrochemical biosensor, optical biosensor, piezoelectric biosensor, thermal biosensor, nano mechanical biosensor, and others. Based on end use, the global biosensors market is segmented into healthcare, bioreactor, agriculture, environment, and others. The healthcare applications are sub-segmented into cholesterol monitoring, blood glucose monitoring, blood gas analyzer, pregnancy testing, drug discovery, infectious disease, and others. Based on application, the global biosensors market is segmented into point-of-care (PoC) testing, food & beverage manufacturing, research laboratories, home diagnostics, security & biodefense, and others.Based on geography, the global biosensors market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment, and would identify the segment of the company focusing on biosensors. Further, market share of prominent companies in the global biosensors market would also be estimated. For instance, Roche Diagnostics operates through two business divisions namely Pharmaceuticals and Diagnostics. The biosensors products are delivered under Diagnostics business division of the company with revenue contribution of US$ 13.3 billion in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the biosensor manufacturing companies. Furthermore, the global biosensors market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the biosensors business segment of the company. Similarly, the recent development section would focus on the latest developments of companies such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global biosensors market.
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Major players active in the global biosensors market include Abbott Laboratories, AZUR Environmental, Bayer AG, Biosensor BV, Cranfield Biotechnology Centre, DuPont Biosensor Materials, EG & IC Sensors Inc., Ercon, Inc., Innovative Biosensors Inc., Johnson & Johnson, LifeScan, Inc., Molecular Devices Corp., Pinnacle Technologies Inc., QTL Biosystems, Roche Diagnostics, Strategic Diagnostics, and Sysmex Corporation.