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World Biosensors Markets 2007
Frost & Sullivan, Oct 2007, Pages: 309
This Frost & Sullivan research service titled World Biosensors Market provides an overview of the worldwide market for different product and end-user segments in terms of revenues by end users and geographic regions, along with a complete analysis of key market drivers, restraints, and trends that impact the growth of this market. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets: research laboratories, home diagnostics, point of care, process industries, environmental, and security and biodefense.
Strong Growth in Biosensors Market as Usage Increases over a Range of Applications
Rapidly increasing use of biosensors for detection and monitoring purposes across an array applications -- ranging from research laboratory and home diagnostic needs to security and biodefense requirements – is driving strong growth in the market. Although the chief contributor to revenue is the home diagnostic market, the emerging security and biodefense markets are also expected to be significant sources of revenue toward the end of this report’s forecast period in 2013. Intensive, ongoing research continues to yield new and advanced concepts, further stimulating demand for a large diversified range of biosensor systems.
'With its broad range of technologically advanced products initiating growth and change, the world biosensors market is also witnessing extensive adoption of the technology in the commercial verticals,' observes Frost & Sullivan’s lead biosensors analyst.
R&D that Caters to Customer Needs Crucial to Success in the Biosensor Market
The crux of the worldwide biosensors research lies in understanding the essential concept of the various types of biosensors and applying them across a range of end-user industries. With diverse applications, end-user focus is on the level of accuracy, ease of use, cost optimization, and maximization of the performance of existing systems within test time limits.
Redefining company strategies to provide customers with user-friendly instruments that are highly reliable in crucial applications is vital for participants who wish to thrive successfully in this highly competitive market. By proactively monitoring the evolving requirements of different end-user segments and catering to them, companies can achieve their growth objectives. Moreover, significant investment in micro-technology and the increasing interest in biomedical and biodefense research are providing major growth opportunities in this market. 'What is likely to carry the biosensor industry into the next generation is the development and rampant use of biosensor based instrument with a single platform for multipurpose test/detection parameters,' opines the analyst.
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