Biosensor Market Growth, Key Opportunities,Growth Analysis and Research Report 2020

Global Biosensor Market by Technology (Electrochemical Biosensors, Optical Biosensors, Thermal Biosensors and Piezoelectric Biosensors), End User (Point of Care, Home Diagnostics, Research Laboratories, Food Industry and Security and Biodefense), Application (Medical Testing, Food Toxicity, Industrial Process, Environmental and Agricultural Testing) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2025

Global Biosensors Market - Overview

Over the past few years nanotechnology has becoming increasingly essential in the field of biosensors. The performance and sensitivity of biosensors is incredibly enhanced with the combination of nanomaterials into their construction. The biosensors works on various technologies which include biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors. This report by MRFR majorly focuses on the biosensors which holds the largest market share among all others biosensor technologies.

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Global Biosensors Market - Regional Analysis

The Global biosensors market, on the basis of regions is divided into North America, Europe, Asia Pacific and Middle East and Africa. North America is expected to command the largest market share due to advanced technologies continuously on rise in these countries. Europe accounts for the second largest. Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment. Majorly due to recent developments in healthcare and improving economies and disposable income per individual. Middle East and Africa with less economic developments and extremely low income accounts for least market share in 2015 but is expected to grow with the increasing investment in research and development in the countries.

The North America Biosensor market is majorly divided in two countries which include U.S and Canada. In North America, biosensor market is driven due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.

Usage of biosensor technology in North America is high compared to other regions of the world due to technological advancements and broader application areas in different industries. Since, the healthcare expenditure is high in North America, biosensor devices are used extensively for accurate, reliable and quick results for early detection and prevention of diseases.

Similarly, according to European Federation of Pharmaceutical Industries and Associations, in 2012, the North American pharmaceutical market accounted for about 41% share of the total pharmaceutical market. This large market invests immensely in R&D of new drugs and thereby drives the demand for various biosensor devices for toxicity testing in the drug development process. Since, these biosensors devices are used in drug development and diagnoses, they are required to abide by certain regulations for efficacy and safety.

Europe holds the second largest market position in terms of market share of global biosensors market majorly due to rise in geriatric population, increase in lifestyle associated diseases, increasing awareness of various diseases and rise in diagnostic requirements. For instance, according to IDF in 2013, approximately 52 million people are suffering from diabetes in Europe.

The global biosensors by end user is majorly segmented into point of care testing, diagnostics center, research laboratories and others. The point of care segment holds the largest market by end user in 2016. Biosensors are next generation analytical tools for point of care testing. Demand for point of care testing is increasing due to increasing requirement of portable and integrated devices.

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Key Players:

It helps to perform tests close to the patient and also provide immediate results outside the laboratory. It is an important tool used in intensive care units, clinics, emergency rooms and operating theatre. It also helps to improve patient care through remote patient care monitoring. Further, it helps clinicians to diagnose the cause of disease for immediate management. Thus, increasing demand for point of care testing would reduce the healthcare cost and helps to obtain precise and quick results of analytical tests.

Abbott Laboratories Inc., F. Hoffmann-La Roche Ltd., Bayer Healthcare, Johnson & Johnson, Medtronic, Inc., and Siemens Healthcare, Nova Biomedical Corporation, LifeSensors Inc., TiaDoc Technology Corporation, I-SENCE Inc and others are some of the major players in the Global Biosensors Market.

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