Biosensors Market:
Growth opportunities in the Biosensors Market look promising over the next six years. This is mainly due to the upcoming disruptive technologies, escalating occurrence of diabetes, mounting government initiatives, and rise in research and development proficiencies.
Biosensors Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the prominent drivers contributing to the growth of the global biosensors market include their augmenting acquisition in the production processes, the surge in the research and development expertise, and the forthcoming innovations in technology. For example, nanotechnology-based biosensors execute an essential role in sensing the mechanism of biosensing technology. Many nanomaterials unearthed electronic and mechanical properties to implement in improvising biological signalling and transduction mechanism, which transforms one form of energy into another. Some of these materials are widely employed, including nanowires, nanotubes, nanorods, nanoparticles, and thin films made up of crystalline matter.
Also, their extensive demand in the glucose monitoring system of the healthcare sector, along with the expansion in the production of miniaturized diagnostic devices, will stimulate the market size. The rising incidence of diabetes across the population drives the market growth. Additionally, the increase in government strategies to promote the development of proteomics and genomics further contributes to the market share. For instance, National Information and Communication Technology Australia are anticipated to launch their research work on data mining, networks, and embedded systems to be used in this field. The government of China is also laying down massive investments in its computing networks introduced by the Chinese Academy of Sciences and the China National Grid supported by the Ministry of Science and Technology.
However, the excessive cost associated with the production of biosensors, along with the rigorous norms and policies concerned with their maintenance and testing in laboratories will curb the biosensors market size.
Applications Segment Drivers
Based on applications, medical diagnostic devices are predicted to lead the market over the forecast period. This is because of the fuelling demand for the enlargement of healthcare infrastructure and resources. The unfamiliar outbreak of coronavirus pandemic in recent times resulted in growth in demand for home diagnostics. These sensors are exhaustively applied in the manufacturing of medical diagnostic devices, while the food & beverage industry finds their usage for food toxicity detection.
Biosensors Market’s leading Manufacturers:
- Sysmex Corporation
- LifeScan IP Holdings
- Innovative Sensor Technology IST AG
- Pinnacle Technologies
- Abbott
- SDIX, LLC
- Johnson & Johnson Private Limited
- Ercon Inc.
- Biosensors International Group
- DuPont
Biosensors Market Segmentation:
Segmentation by Type
- Sensor Patch
- Embedded device
Segmentation by Product
- Wearable Biosensors
- Non-wearable Biosensors
Segmentation by Technology
- Electrochemical Biosensors
- Optical Biosensors
- Piezometric Biosensors
- Thermal Biosensors
- Nanomechanical Biosensors
Segmentation by Applications
- POC
- Home Diagnostics
- Research labs
- Environmental monitoring
- Food and Beverages
- Biodefense
Segmentation by Component
- Component
- Bioreceptor molecules
- Biological Element
- Transducer
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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