The global biosensors market was valued at $17,500.0 million in 2018, and is expected to reach $38,600.2 million by 2026, registering a CAGR of 10.4% from 2019 to 2026. Biosensors are medical devices that are primarily used to sense or detect the presence or concentration of biological substances, such as a biomolecule or a microorganism. They are analytical devices that can convert a biological response into an electrical signal. Biosensors majorly comprise three parts, including a component that identifies an analyte and produces signal, a signal transducer, and a reader device. Biosensors find their applications in food & beverages, environmental monitoring, home care diagnostics. and various nanomechanical biosensors. In addition, biosensor applications are also widely dominant in the field of plant biology to study metabolic processes.
Significant rise in chronic diseases such as diabetes across the globe, A surge in biotechnology R&D, and an increased demand for home care devices are the major factors that drive the biosensors market growth. In addition, considerable increase in preference of biosensors in glucose monitoring devices contributes to the market growth. However, high cost associated with these devices and lack of inclination toward adoption of new treatment devices are the major factors anticipated to hamper the market growth. On the contrary, technological advancements in biosensors to make them portable and easy to handle is anticipated to create lucrative opportunities in the future.
The market is segmented on the basis of product, technology and region. Based on product, the global biosensors market is divided into wearable biosensors and nonwearable biosensors. Based on technology, the market is classified into electrochemical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors and nanomechanical biosensors. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players in the market have adopted various strategies such as product approval and partnership for maintaining their share in the global biosensors market, thereby addressing the evolving healthcare needs among patients and healthcare providers. Some of the key players of the market include Abbott Laboratories, AgaMatrix Holdings LLC, DowDupont Inc. (DuPont de Nemours, Inc.), F. Hoffmann-La Roche Ltd., General Electric (Biacore, Inc.), LifeScan, Inc., Medtronic Plc., Nova Biomedical, PHC Holdings Co., Ltd. (Ascensia Diabetes Care Holdings AG), and Siemens Healthcare.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
BY Product
By Technology
By Region
LIST OF KEY PLAYERS PROFILED IN THE REPORT
Significant rise in chronic diseases such as diabetes across the globe, A surge in biotechnology R&D, and an increased demand for home care devices are the major factors that drive the biosensors market growth. In addition, considerable increase in preference of biosensors in glucose monitoring devices contributes to the market growth. However, high cost associated with these devices and lack of inclination toward adoption of new treatment devices are the major factors anticipated to hamper the market growth. On the contrary, technological advancements in biosensors to make them portable and easy to handle is anticipated to create lucrative opportunities in the future.
The market is segmented on the basis of product, technology and region. Based on product, the global biosensors market is divided into wearable biosensors and nonwearable biosensors. Based on technology, the market is classified into electrochemical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors and nanomechanical biosensors. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players in the market have adopted various strategies such as product approval and partnership for maintaining their share in the global biosensors market, thereby addressing the evolving healthcare needs among patients and healthcare providers. Some of the key players of the market include Abbott Laboratories, AgaMatrix Holdings LLC, DowDupont Inc. (DuPont de Nemours, Inc.), F. Hoffmann-La Roche Ltd., General Electric (Biacore, Inc.), LifeScan, Inc., Medtronic Plc., Nova Biomedical, PHC Holdings Co., Ltd. (Ascensia Diabetes Care Holdings AG), and Siemens Healthcare.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS
BY Product
- Wearable Biosensors
- Non- Wearable Biosensors
By Technology
- Electrochemical Biosensors
- Optical Biosensors
- Piezoelectric Biosensors
- Thermal Biosensors
- Nanomechanical Biosensors
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Abbott Laboratories
- AgaMatrix Holdings LLC
- DowDupont Inc
- F. Hoffmann-La Roche Ltd.
- General Electric
- LifeScan, Inc.
- Medtronic Plc
- Nova Biomedical
- PHC Holdings Co., Ltd
- Siemens Healthcare
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Biosensors Market, by Product
Chapter 5: Biosensors Market, by Technology
Chapter 6: Biosensors Market, by Region
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'Biosensors market by Product, and Technology: opportunity analysis and industry forecast, 2018-2026' the global biosensors market size is expected to reach $38.6 billion by 2026, registering a CAGR of 10.4% from 2019 to 2026, in terms of value. Biosensors are medical devices that are primarily used to sense or detect the presence or concentration of biological substances, such as a biomolecule or a microorganism.. They are analytical devices that can convert a biological response into an electrical signal. Biosensors are widely used in the medical sector to detect the presence or concentration of biological substances, such as a biomolecule or a microorganism.. They are used to convert a biological response into an electrical signal. Biosensors are majorly used in the field of environmental monitoring, home care diagnostics, plant biotechnology, and nanomechanical biosensors.The major factors driving the biosensors market include rise in chronic diseases such as diabetes, surge in biotechnology R&D, and increased demand for home care medical devices. Further, significant rise in the use of biosensors in glucose monitoring devices propels market growth. However, high cost associated with these devices and lack of inclination toward adoption of new treatment devices are the major factors anticipated to hamper market growth. Moreover, technological advancements in biosensors to make them portable and easy to handle is anticipated to create lucrative opportunities in the near future.
The market is segmented on the basis of product, technology and region. Based on product, the global biosensors market is divided into wearable biosensors and nonwearable biosensors. Based on technology, the market is classified into electrochemical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors and nanomechanical biosensors. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. By product, the non-wearable biosensors segment accounted for majority of the market share in 2018, and is expected to exhibit a prominent growth rate in the future, owing to surge in use of these sensors in nonclinical applications for real-time on-site monitoring of various production processes. In addition, other applications of biosensors include environmental monitoring, soil quality monitoring, water quality monitoring, and toxins of defense interest. By technology, the electrochemical biosensors segment is anticipated to maintain its dominance in coming years due to its accurate sensitivity and faster response. Furthermore, electrochemical biosensors can be easily integrated in labs-on-chips (LOCs) to obtain better point-of-care (POC) analytical platforms. North America held the largest share in the biosensors market in 2018, followed by Europe. The factors that drive the overall growth of the North America biosensors market include increasing government funds for conducting research toward development of advanced biosensors for various applications. Moreover, surge in use of biosensors in this region for monitoring food quality parameters is anticipated to contribute to market growth. Moreover, rise in demand for POC technologies in North America, focus on rapid, simple, accurate, portable, and low-cost analytical instruments propel market growth for biosensors market in the region. However, Asia-Pacific is anticipated to grow at the highest rate during the forecast period. This is attributed to increase in biotechnology R&D in this region. The major factors that drive the growth of the biosensors market in Asia-Pacific include increase in per capita income in many countries, rise in government initiatives for improvement of the healthcare sector, and surge in focus of leading manufacturers on expanding their geographic presence in emerging Asia-Pacific countries to capture high growth opportunities in the market.
Key Findings of the Study:
By technology, the electrochemical biosensors segment accounted for the highest market share of 28% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
By product, the non-wearable segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
By region, North America was the major shareholder and accounted for the highest share of 42% in 2018.
Asia-Pacific is expected to grow at a CAGR of 6.1% during the forecast period.
Some of the key players of the market include Abbott Laboratories, AgaMatrix Holdings LLC, DowDupont Inc. (DuPont de Nemours, Inc.), F. Hoffmann-La Roche Ltd., General Electric (Biacore, Inc.), LifeScan, Inc., Medtronic Plc., Nova Biomedical, PHC Holdings Co., Ltd. (Ascensia Diabetes Care Holdings AG) and Siemens Healthcare.
Companies Mentioned
- Abbott Laboratories
- AgaMatrix Holdings LLC
- DowDupont Inc. (DuPont de Nemours Inc.)
- F. Hoffmann-La Roche Ltd.
- General Electric (Biacore Inc.)
- LifeScan Inc.
- Medtronic Plc.
- Nova Biomedical
- PHC Holdings Co. Ltd. (Ascensia Diabetes Care Holdings AG)
- Siemens Healthcare.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 163 |
| Published | May 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 17500 million |
| Forecasted Market Value ( USD | $ 38600.2 million |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
