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Biosensors - Global Strategic Business Report

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    Report

  • 504 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338842

Global Biosensors Market to Reach $49.3 Billion by 2030

The global market for Biosensors estimated at US$28.5 Billion in the year 2022, is projected to reach a revised size of US$49.3 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2022-2030. Non-wearable, one of the segments analyzed in the report, is projected to record 6.5% CAGR and reach US$25.9 Billion by the end of the analysis period. Growth in the Wearable segment is estimated at 7.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $11.2 Billion, While China is Forecast to Grow at 8.6% CAGR

The Biosensors market in the U.S. is estimated at US$11.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$5.1 Billion by the year 2030 trailing a CAGR of 8.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 6.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR.

Select Competitors (Total 119 Featured)

  • Abbott Laboratories
  • Bio-Rad Laboratories, Inc.
  • Cytiva
  • Dexcom, Inc.
  • Masimo Corporation
  • Medtronic Plc
  • Nova Biomedical
  • Siemens Medical Solutions USA, Inc.
  • Thermo Fisher Scientific Inc.
  • WaveForm Technologies, Inc.

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Biosensors Market

What is the estimated value of the Biosensors Market?

The Biosensors Market was estimated to be valued at $28.5 Billion in 2022.

What is the growth rate of the Biosensors Market?

The growth rate of the Biosensors Market is 7.1%, with an estimated value of $49.3 Billion by 2030.

What is the forecasted size of the Biosensors Market?

The Biosensors Market is estimated to be worth $49.3 Billion by 2030.

Who are the key companies in the Biosensors Market?

Key companies in the Biosensors Market include Abbott Laboratories, Bio, Rad Laboratories, Inc., Cytiva, Dexcom, Inc., Masimo Corporation, Medtronic Plc, Nova Biomedical, Siemens Medical Solutions USA, Inc. and Thermo Fisher Scientific Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Biosensors Grow From Being an Academic Curiosity to Real World Game Changer in Myriad Applications
  • Global Economic Update
  • Although Declining for the First Time Since the Russia-Ukraine War, Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn Will Take Inflation Longer Than Expected to Fall: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
  • Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
  • Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
  • Competition
  • Biosensors - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Biosensors: Overview & Types
  • Recent Market Activity
  • Innovations
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Epidemic Rise in Diabetes Drives Robust Opportunity for Biosensors in Blood Glucose Monitoring
  • As Diabetes Grows Into a Major Public Health Issue, the Search for Easy and Effective Ways to Monitor & Manage the Disease Brings Biosensors Into the Spotlight: Number of Adults (20-79 Years) Diagnosed with Diabetes (in Million) by Gender for 2019, 2030 and 2045
  • Innovative Biosensor Applications Beyond Glucose Monitoring in Healthcare to Benefit Growth in the Market
  • Focus on Food Sustainability, Security & Agricultural Productivity Spurs Increased Use of Biosensors in Smart Agricultural Practices
  • Long Term Focus on Sustainably Feeding the World to Benefit the Use of Biosensors in Agriculture: Global Population (in 000s) by Region for Years 2025, 2035 & 2045
  • Growing Focus on Climate Change & Sustainability Brings Home the Importance of Biosensors in Environmental Monitoring
  • As the Threat of Climate Change Becomes More Real & Urgent, Environmental Biosensors Will Become More Indispensable & Omnipresent: Global CO2 Emissions (In Billion Metric Tons) for Years 1930, 1940, 1950, 1960, 1970, 1980, 1990, 2000, 2010, 2020, 2021, 2022 & 2023
  • Rise of Biological Weapons Drives Interest in Biosensors in CBRN Defense
  • Growing Spending on CBRN Defense Spending to Expand the Addressable Market Opportunity for Biosensors in Military & Defense Applications: World Market for CBRN Defense (In US$ Million) for Years 2023, 2025 and 2027
  • Nanotechnology Based Biosensors Storm Into the Spotlight
  • Here’s How AI in Biosensors is Revolutionizing Diagnostics
  • Everything You Need to Know About Wearable Biosensors & Its Impact on Real-Time Health Monitoring, Prevention & Treatment
  • Robust Demand for Medical Wearables Translates Into Increased Opportunity for the Use of Embedded Biosensors: Global Market for Wearable Medical Devices (In US$ Million) for Years 2023, 2025 and 2027
  • Photonic Biosensors Rise Tall Over the Horizon to Revolutionize the Field of PoC Testing
  • Electrochemical Biosensors, the Leading Segment with Increasing Use in Medical and Non-Medical Applications
  • Stringent Regulations for Food Safety Testing to Drive Demand for Biosensors
  • A Strong Food Safety Testing Market Bodes Well for Expanded Use of Biosensors in Food Testing Products & Services: Global Market for Food Safety Testing (In US$ Million) For Years 2023, 2025 and 2027
  • Drinkable Electronic Biosensors Make it to Spotlight
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Biosensors Market Analysis of Annual Sales in US$ Million for Years 2017 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Biosensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Biosensors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 4: World 13-Year Perspective for Biosensors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2017, 2023 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for Non-wearable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 6: World Historic Review for Non-wearable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 7: World 13-Year Perspective for Non-wearable by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Wearable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Wearable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 10: World 13-Year Perspective for Wearable by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Electrochemical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Electrochemical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 13: World 13-Year Perspective for Electrochemical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Optical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Optical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 16: World 13-Year Perspective for Optical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Thermal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Thermal by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 19: World 13-Year Perspective for Thermal by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 20: World Recent Past, Current & Future Analysis for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 21: World Historic Review for Other Technologies by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 22: World 13-Year Perspective for Other Technologies by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 23: World Recent Past, Current & Future Analysis for Medical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 24: World Historic Review for Medical by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 25: World 13-Year Perspective for Medical by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 26: World Recent Past, Current & Future Analysis for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 27: World Historic Review for Agriculture by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 28: World 13-Year Perspective for Agriculture by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 29: World Recent Past, Current & Future Analysis for Environment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 30: World Historic Review for Environment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 31: World 13-Year Perspective for Environment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 32: World Recent Past, Current & Future Analysis for Food Toxicity by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 33: World Historic Review for Food Toxicity by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 34: World 13-Year Perspective for Food Toxicity by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • TABLE 35: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 36: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2017 through 2021 and % CAGR
  • TABLE 37: World 13-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2017, 2023 & 2030
  • Developed Economies at the Forefront of Growth in Biosensors Market
III. MARKET ANALYSIS
  • UNITED STATES
  • Biosensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • CHINA
  • Biosensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Biosensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Biosensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • REST OF WORLD
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Abbott Laboratories
  • Bio-Rad Laboratories, Inc.
  • Cytiva
  • Dexcom, Inc.
  • Masimo Corporation
  • Medtronic Plc
  • Nova Biomedical
  • Siemens Medical Solutions USA, Inc.
  • Thermo Fisher Scientific Inc.
  • WaveForm Technologies, Inc.