Biosensors Market Size, Share, Growth Analysis, By Technology(Piezoelectric, electrochemical, thermal, and optical), By End-User(Bioreactor, medical, agriculture, environment), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45J2077 | Region: Global | Published Date: June, 2024
Pages: 157 |Tables: 67 |Figures: 80

Biosensors Market Insights

Biosensors Market size was valued at USD 25.5 billion in 2021 and is poised to grow from USD 27.41 billion in 2022 to USD 48.89 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

The healthcare industry is seeing a surge in the utilization of biosensors to monitor various parameters, including glucose levels in diabetic patients. Additionally, the demand for biosensors is increasing in the detection of heavy materials in food and water, while their application in sectors like agriculture, healthcare, and environmental monitoring is also expanding. These factors are anticipated to fuel revenue growth in the biosensors market. Moreover, market leaders are investing heavily in research and development to create more advanced and innovative biosensors. This trend is expected to contribute significantly to the market's revenue growth, especially with the manufacturing of autonomous and self-driving level 4 and 5 Electric Vehicle (EV). The market revenue growth is expected to be significantly driven by the emergence of biotechnology and nanotechnology-based sensors or nano biosensors. Nano biosensors, which are composed of nanoparticles and have dimensions ranging from 1 to 100 nanometers, have excellent electronic and mechanical properties, making them efficient and accurate for detecting, diagnosing, and treating chronic and life-threatening diseases such as cancer, drug delivery, and patient health management. Moreover, these biosensors can detect pathological organisms, including viruses, bacteria, and fungi, and are being increasingly used for monitoring blood glucose levels. Next-generation sensing devices based on nanotechnology are more efficient and accurate in providing real-time detection of bacterial cells, and recent technological advancements in biosensors have led to their increasing adoption in biomedical applications, Point of Care (PoC), and clinical care. For instance, they are also used for detecting Urinary Tract Infections (UTIs), and microneedle biosensors have been used to accurately detect changes in antibiotic levels in the body by placing non-invasive patches on the skin. This breakthrough was achieved by researchers at Imperial College London in late 2019, and the accuracy of this method matches that of current clinical techniques.

Biosensors are increasingly utilized in the food and beverage industry to remotely sense and assess the quality of food and water, as well as detect residues. They can measure alcohol, carbohydrates, and acids during quality control procedures and are also useful for monitoring fermentation during the production of beverages like yogurt, beer, and soft drinks. Pathogens in meat, poultry, and fish can also be identified using biosensors. These devices are being combined with nanotechnology and electromechanical systems to create more robust food safety systems, which ensure that consumers are not exposed to or at risk of consuming harmful substances. Enzymatic biosensors are commonly employed in the dairy industry because they can immobilize enzymes in a photo cross-linkable polymer, enabling the quantification of organophosphate pesticides in milk. In addition, the use of biosensors extends to the detection of heavy metal contaminants, such as lead, mercury, and iron, in river water, as well as genome analysis and communication. Heavy metals are frequently used in agriculture and industrial processes, and their toxicity to humans makes their detection crucial. Nanotechnology is also making its way into the agricultural sector, revolutionizing traditional farming methods. Nano biosensors are particularly helpful for monitoring seed quality, promoting plant growth, improving crop yield, and soil quality. Organic fertilizers and pesticides developed with nanotechnology can enhance productivity and help remove soil contaminants. Additionally, biosensors have high sensitivity and are capable of detecting the slightest physiological changes in the human body, which can lead to improved quality of life. Recent advancements in biological techniques, including fluorescence tags and nanomaterials, have increased the sensitivity limits of biosensors. PPG biosensors are also widely used in smart watches to monitor user health during daily activities, sports, and sleep. The PPG sensor provides valuable information on blood circulation and cardiovascular health. These applications of biosensors are expected to contribute to the growth of the market.

Over the past two decades, global health has faced significant threats from diseases such as Middle East Respiratory Syndrome (MERS), Severe Acute Respiratory Syndrome (SARS), and more recently, COVID-19. These diseases are associated with severe respiratory illnesses such as pneumonia and bronchitis. Although COVID-19 has mild symptoms, it has quickly become a pandemic. Nanoparticles such as metal nanoparticles, nanowires, and graphene have been integrated with affinity biosensors to develop effective tools for detecting COVID-19 while enhancing their analytical performance. Graphene-based electronic biosensor technology developed by GRIP Molecular Technologies is a notable example of this. The technology is designed to provide lab-grade accurate results in minutes, anywhere and anytime. However, the high initial cost associated with R&D is a major factor expected to limit revenue growth of the market during the forecast period. Due to the high costs ranging from USD 40 to USD 50 million, larger companies are better equipped to invest in the development of biosensors. Furthermore, the slow rate of commercialization and approval can take up to five years and result in significant investment, factors that are expected to hinder market revenue growth.

US Biosensors Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2023-2030

Global Market Size

USD 25.5 billion

Largest Segment

Electrochemical

Fastest Growth

Electrochemical

Growth Rate

7.5% CAGR

Global Biosensors Market ($ Bn)
Country Share for North America Region (%)

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Biosensors Market Segmental Analysis

Global Biosensors Market is segmented on the basis of technology, end-user and region. By technology, the market is segmented into piezoelectric, electrochemical, thermal, and optical. By end-user, market is segmented into bioreactor, medical, agriculture, environment, food toxicity, and others. By region, the Biosensors Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Biosensors Market Analysis by Technology

The electrochemical segment dominated the market in 2021 with a share of approximately 71.4% due to its widespread use in biological and biochemical processes for measurement and analysis. The advantages of electrochemical biosensors include low detection limits, wide linear response range, high stability, and repeatability, which have resulted in their higher market penetration and consumption compared to piezoelectric, thermal, and optical biosensors. Furthermore, the electrochemical biosensors have several benefits such as robustness, compatibility with new micro fabrication technologies, ease of use, disposability, independence from sample turbidity, and low power requirements.

On the other hand, the optical segment is anticipated to witness the fastest growth rate during the forecast period. This is due to the broad analytical coverage provided by optical biosensors, which are increasingly needed in the analysis. Optical biosensors can be used for receptor-cell interactions, fermentation monitoring, structural research, concentration, kinetic, and equilibrium analyses. These factors are expected to contribute to the growth of the optical biosensors market.

Biosensors Market Analysis by Application

The medical sector was the dominant industry in 2021, constituting approximately 66.5% of the total revenue share. Within the medical industry, biosensors play a crucial role in various applications such as cholesterol testing, blood glucose monitoring, drug discovery, pregnancy testing, blood gas analysis, and detecting infectious disorders. Biosensors are considered an essential tool for identifying and monitoring a wide range of medical conditions, including diabetes and cancer.

The agricultural sector is anticipated to exhibit the highest compound annual growth rate (CAGR) during the forecast period. Compared to conventional techniques used to prevent the loss of crops and livestock due to natural threats and bioterrorism, biosensors enable swift and specific identification of numerous types of fungi. They can also measure the presence of pesticides, herbicides, heavy metals, and other contaminants in soil and groundwater. In addition, biosensors are utilized to forecast soil diseases, which were previously undetectable using traditional technology, leading to more reliable and improved methods for early-stage soil disease cleanup and prevention. These factors contribute to the expansion of the market.

Global Biosensors Market Size By Technology (%)

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Biosensors Market Regional Insights

North America accounted for the largest revenue share of the global biosensor market, owing to the presence of important companies and the increasing prevalence of targeted diseases in the region. North America is a significant market for biosensors, with high demand from the healthcare industry and strong research and development activities. The United States is the largest market for biosensors in North America, with a high demand for point-of-care diagnostics, a growing geriatric population, and a rising prevalence of chronic diseases driving the market growth. Canada is also a significant market for biosensors, owing to the increasing adoption of new medical technologies and the presence of a large patient pool. The most commonly used biosensors in this region include electrochemical, optical, and piezoelectric biosensors. The healthcare industry is the primary end-user of biosensors in North America, with applications in the diagnosis and management of various chronic diseases such as diabetes, cardiovascular diseases, and cancer. The presence of key players such as Abbott Laboratories, Medtronic, and Johnson & Johnson in North America has further propelled the growth of the biosensors market in the region.

The Middle East and Africa (MEA) region is a rapidly developing market for biosensors. The increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is driving demand for biosensors in the region. Additionally, the rise of digital health and telemedicine is creating opportunities for remote monitoring and diagnostics, which can be facilitated by biosensor technology. In terms of market size, South Africa, the United Arab Emirates, and Saudi Arabia are the largest markets for biosensors in the MEA region. However, there is significant potential for growth in other countries, particularly in North Africa and Sub-Saharan Africa, where healthcare infrastructure and technology adoption are improving. Governments in the MEA region are also taking steps to support the development and adoption of biosensor technology. For example, in 2020, the Dubai Health Authority launched a program to provide patients with continuous glucose monitoring devices, including biosensors, to help manage diabetes. However, there are also challenges to the adoption of biosensors in the MEA region, including a lack of awareness and education among healthcare professionals and patients, as well as limited access to healthcare in some areas. Nevertheless, the MEA biosensors market is expected to continue to grow in the coming years as healthcare infrastructure and technology adoption improve and demand for remote monitoring and diagnostics increases.

Global Biosensors Market Size By Region
  • Largest
  • Fastest

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Biosensors Market Dynamics

Biosensors Market Drivers

Emergence of nanotechnology-based biosensors

  • Nanotechnology-based biosensors, which consist of nanomaterials and have sizes ranging from 1 to 100 nm, have emerged as a critical component of biosensing technology. These biosensors have been integrated with electrical systems to create nanoelectromechanical systems, which have improved biological signaling and transduction mechanisms. Various nanomaterials with electronic and mechanical properties have been investigated for use in biosensors, including nanotubes, nanowires, nanorods, nanoparticles, and thin films made of crystalline materials. These biosensors have a wide range of applications, from amperometric devices for glucose detection to the use of quantum dots for fluorescence-based detection and bio-conjugated nanomaterials for biomolecular detection.

Biosensors Market Restraints

Commercializing and implementing new treatment practices has been slow

  • The adoption of new treatment practices and commercialization of biosensor technology has been sluggish in recent times, mainly due to the high cost of biosensors and limited demand from industries beyond healthcare. The industry faces the challenge of commercializing biosensors for non-medical applications such as biodefense, military, fermentation control, and environment monitoring due to limited research and development and positive outcomes. Additionally, the market for biosensors is witnessing a slow rate of commercialization due to factors such as price sensitivity, end-user acceptance, and concerns surrounding product quality, reliability, and authenticity.

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Biosensors Market Competitive Landscape

The global biosensors market is highly competitive, with numerous players operating in the market. Biosensors are used in a wide range of applications, including medical diagnosis, food safety monitoring, environmental monitoring, and biodefense. The key companies have a strong presence in the market due to their extensive product offerings, distribution networks, and brand recognition. They are also investing heavily in research and development to stay ahead of their competitors and provide cutting-edge biosensor technologies to their customers. There are also several smaller players in the market that specialize in specific applications of biosensors, such as environmental monitoring or food safety. These companies are often more nimble and able to respond quickly to changes in market demand.

Biosensors Market Top Player’s Company Profiles

  • Abbott Laboratories
  • Medtronic plc
  • Roche Diagnostics
  • Siemens Healthineers AG
  • Johnson & Johnson
  • Bio-Rad Laboratories, Inc.
  • General Electric Company
  • Nova Biomedical
  • Danaher Corporation
  • Thermo Fisher Scientific, Inc.
  • Lonza Group AG
  • DuPont de Nemours, Inc.
  • Sensirion AG
  • Sysmex Corporation
  • Siemens AG
  • Masimo Corporation
  • Xsensio SA
  • Bioanalytical Systems, Inc.
  • Conductive Technologies, Inc.
  • Microchip Technology Inc.

Biosensors Market Recent Developments

  • In January 2021, Roche and Sysmex entered into a Global Business Partnership Agreement (GBP) that focuses on providing hematology testing solutions. The partnership aims to leverage IT systems to enhance clinical decision-making and improve customer experience. This long-standing partnership has proven successful in bringing innovative hematology testing solutions to laboratories worldwide and is expected to continue to evolve in the future.
  • In January 2021, Abbott Laboratories received FDA approval for its FreeStyle Libre 2 wearable biosensor for continuous glucose monitoring.
  • In February 2021, Medtronic announced the launch of its Guardian Connect continuous glucose monitoring system, which uses a wearable biosensor to monitor glucose levels in people with diabetes.
  • In March 2021, Dexcom announced the launch of its Dexcom G7 continuous glucose monitoring system, which uses a small, disposable wearable biosensor to monitor glucose levels.
  • In April 2021, Nanopore Technologies launched its LamPORE COVID-19 test, which uses a portable biosensor to detect the presence of the SARS-CoV-2 virus.

Biosensors Key Market Trends

  • One of the key market trends in the global biosensors market is the growing interest in wearable biosensors. Wearable biosensors are small, portable, and non-invasive devices that can be worn on the body to monitor a range of health parameters. These devices are typically designed to be integrated into wearable form factors such as smart watches, fitness trackers, and other wearable devices. The adoption of wearable biosensors has been driven by several factors. First, advances in sensor technology have made it possible to create small, lightweight, and low-power biosensors, making them well-suited for use in wearable devices. Second, the increasing prevalence of chronic diseases such as diabetes and heart disease has led to a growing demand for continuous monitoring of health parameters, which wearable biosensors can provide. Third, the rise of digital health and telemedicine has led to a greater emphasis on the remote monitoring of patients, which can be facilitated by wearable biosensors. Several types of wearable biosensors are currently available on the market, including electrochemical, optical, and piezoelectric sensors. These sensors can be used to monitor a range of health parameters, such as heart rate, blood glucose levels, blood pressure, oxygen saturation, and more. They can also be used to track physical activity, sleep patterns, and other lifestyle factors. The adoption of wearable biosensors is expected to continue to grow in the coming years, driven by the increasing prevalence of chronic diseases, advances in sensor technology, and the growing focus on remote monitoring of patients. As wearable biosensors become more widespread, they have the potential to improve patient outcomes, reduce healthcare costs, and empower individuals to take greater control over their health and wellbeing

Biosensors Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Biosensors Market analysis, the global market is a rapidly growing industry that is driven by advances in technology and the increasing demand for accurate and reliable diagnostic tools in various industries. The medical segment dominated the market in 2021, accounting for around 66.5% of the total revenue share. The agricultural sector is expected to grow at the fastest compound annual growth rate (CAGR) during the forecast period. North America dominated the global market in 2022, owing to the increasing demand for point-of-care testing, the rising prevalence of chronic diseases, and the presence of major players in the region. However, the Middle East and Africa region is expected to exhibit the highest CAGR during the forecast period due to the increasing adoption of biosensors in the healthcare and agricultural sectors and the growing demand for personalized medicine.

Report Metric Details
Market size value in 2021 USD 25.5 billion
Market size value in 2030 USD 48.89 billion
Growth Rate 7.5%
Base year 2023
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Piezoelectric, electrochemical, thermal, and optical
  • End-User
    • Bioreactor, medical, agriculture, environment, food toxicity, and others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Abbott Laboratories
  • Medtronic plc
  • Roche Diagnostics
  • Siemens Healthineers AG
  • Johnson & Johnson
  • Bio-Rad Laboratories, Inc.
  • General Electric Company
  • Nova Biomedical
  • Danaher Corporation
  • Thermo Fisher Scientific, Inc.
  • Lonza Group AG
  • DuPont de Nemours, Inc.
  • Sensirion AG
  • Sysmex Corporation
  • Siemens AG
  • Masimo Corporation
  • Xsensio SA
  • Bioanalytical Systems, Inc.
  • Conductive Technologies, Inc.
  • Microchip Technology Inc.

Biosensors Market Recent Developments

  • In January 2021, Roche and Sysmex entered into a Global Business Partnership Agreement (GBP) that focuses on providing hematology testing solutions. The partnership aims to leverage IT systems to enhance clinical decision-making and improve customer experience. This long-standing partnership has proven successful in bringing innovative hematology testing solutions to laboratories worldwide and is expected to continue to evolve in the future.
  • In January 2021, Abbott Laboratories received FDA approval for its FreeStyle Libre 2 wearable biosensor for continuous glucose monitoring.
  • In February 2021, Medtronic announced the launch of its Guardian Connect continuous glucose monitoring system, which uses a wearable biosensor to monitor glucose levels in people with diabetes.
  • In March 2021, Dexcom announced the launch of its Dexcom G7 continuous glucose monitoring system, which uses a small, disposable wearable biosensor to monitor glucose levels.
  • In April 2021, Nanopore Technologies launched its LamPORE COVID-19 test, which uses a portable biosensor to detect the presence of the SARS-CoV-2 virus.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Biosensors Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Biosensors Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Biosensors Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biosensors Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biosensors Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Biosensors Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Biosensors Market size was valued at USD 25.5 billion in 2021 and is poised to grow from USD 27.41 billion in 2022 to USD 48.89 billion by 2030, growing at a CAGR of 7.5% in the forecast period (2023-2030).

The global biosensors market is highly competitive, with numerous players operating in the market. Biosensors are used in a wide range of applications, including medical diagnosis, food safety monitoring, environmental monitoring, and biodefense. The key companies have a strong presence in the market due to their extensive product offerings, distribution networks, and brand recognition. They are also investing heavily in research and development to stay ahead of their competitors and provide cutting-edge biosensor technologies to their customers. There are also several smaller players in the market that specialize in specific applications of biosensors, such as environmental monitoring or food safety. These companies are often more nimble and able to respond quickly to changes in market demand. 'Abbott Laboratories', 'Medtronic plc', 'Roche Diagnostics', 'Siemens Healthineers AG', 'Johnson & Johnson', 'Bio-Rad Laboratories, Inc.', 'General Electric Company', 'Nova Biomedical', 'Danaher Corporation', 'Thermo Fisher Scientific, Inc.', 'Lonza Group AG', 'DuPont de Nemours, Inc.', 'Sensirion AG', 'Sysmex Corporation', 'Siemens AG', 'Masimo Corporation', 'Xsensio SA', 'Bioanalytical Systems, Inc.', 'Conductive Technologies, Inc.', 'Microchip Technology Inc.', 'In January 2021, Roche and Sysmex entered into a Global Business Partnership Agreement (GBP) that focuses on providing hematology testing solutions. The partnership aims to leverage IT systems to enhance clinical decision-making and improve customer experience. This long-standing partnership has proven successful in bringing innovative hematology testing solutions to laboratories worldwide and is expected to continue to evolve in the future.', 'In January 2021, Abbott Laboratories received FDA approval for its FreeStyle Libre 2 wearable biosensor for continuous glucose monitoring.', 'In February 2021, Medtronic announced the launch of its Guardian Connect continuous glucose monitoring system, which uses a wearable biosensor to monitor glucose levels in people with diabetes.', 'In March 2021, Dexcom announced the launch of its Dexcom G7 continuous glucose monitoring system, which uses a small, disposable wearable biosensor to monitor glucose levels.', 'In April 2021, Nanopore Technologies launched its LamPORE COVID-19 test, which uses a portable biosensor to detect the presence of the SARS-CoV-2 virus.'

Nanotechnology-based biosensors, which consist of nanomaterials and have sizes ranging from 1 to 100 nm, have emerged as a critical component of biosensing technology. These biosensors have been integrated with electrical systems to create nanoelectromechanical systems, which have improved biological signaling and transduction mechanisms. Various nanomaterials with electronic and mechanical properties have been investigated for use in biosensors, including nanotubes, nanowires, nanorods, nanoparticles, and thin films made of crystalline materials. These biosensors have a wide range of applications, from amperometric devices for glucose detection to the use of quantum dots for fluorescence-based detection and bio-conjugated nanomaterials for biomolecular detection.

One of the key market trends in the global biosensors market is the growing interest in wearable biosensors. Wearable biosensors are small, portable, and non-invasive devices that can be worn on the body to monitor a range of health parameters. These devices are typically designed to be integrated into wearable form factors such as smart watches, fitness trackers, and other wearable devices. The adoption of wearable biosensors has been driven by several factors. First, advances in sensor technology have made it possible to create small, lightweight, and low-power biosensors, making them well-suited for use in wearable devices. Second, the increasing prevalence of chronic diseases such as diabetes and heart disease has led to a growing demand for continuous monitoring of health parameters, which wearable biosensors can provide. Third, the rise of digital health and telemedicine has led to a greater emphasis on the remote monitoring of patients, which can be facilitated by wearable biosensors. Several types of wearable biosensors are currently available on the market, including electrochemical, optical, and piezoelectric sensors. These sensors can be used to monitor a range of health parameters, such as heart rate, blood glucose levels, blood pressure, oxygen saturation, and more. They can also be used to track physical activity, sleep patterns, and other lifestyle factors. The adoption of wearable biosensors is expected to continue to grow in the coming years, driven by the increasing prevalence of chronic diseases, advances in sensor technology, and the growing focus on remote monitoring of patients. As wearable biosensors become more widespread, they have the potential to improve patient outcomes, reduce healthcare costs, and empower individuals to take greater control over their health and wellbeing

North America accounted for the largest revenue share of the global biosensor market, owing to the presence of important companies and the increasing prevalence of targeted diseases in the region. North America is a significant market for biosensors, with high demand from the healthcare industry and strong research and development activities. The United States is the largest market for biosensors in North America, with a high demand for point-of-care diagnostics, a growing geriatric population, and a rising prevalence of chronic diseases driving the market growth. Canada is also a significant market for biosensors, owing to the increasing adoption of new medical technologies and the presence of a large patient pool. The most commonly used biosensors in this region include electrochemical, optical, and piezoelectric biosensors. The healthcare industry is the primary end-user of biosensors in North America, with applications in the diagnosis and management of various chronic diseases such as diabetes, cardiovascular diseases, and cancer. The presence of key players such as Abbott Laboratories, Medtronic, and Johnson & Johnson in North America has further propelled the growth of the biosensors market in the region.

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