Globally, the biosensors market is witnessing significant growth due to increasing demand of point of care testing. In addition, rising prevalence of chronic and lifestyle associated diseases, growing geriatric population, increasing application of biosensors in various industries and growing application of nanotechnology in healthcare are also driving the growth of the market. In addition, emergence and demand of personalized medicine and non-invasive biosensors would also drive the growth for the market. However, strict regulatory requirements and reimbursement policy issues in healthcare system hamper growth of the global biosensors market. In addition, the regulatory process is not keeping pace with the rapid development of new medical technologies.The global biosensors market is anticipated to grow from an estimated USD 12,963.6 million in 2014 to USD 22,551.2 million in 2020 at a CAGR of 9.7% during the forecast period.
Browse Complete Report @ http://www.persistencemarketresearch.com/market-research/biosensor-market.asp
North America is the largest market for global biosensors. Electrochemical biosensors are the most used technology of biosensors, medical diagnostics are the most popular application of biosensors and biosensors are mostly used in POCT. In terms of growth, Asia Pacific is the fastest growing region; optical biosensors make for the fastest growing type of technology, while security and bio-defense make for the fastest growing type of end user.
Download Report Sample @ http://www.persistencemarketresearch.com/samples/3589
The North American market is anticipated to grow from an estimated USD 5,693.4 million in 2014 to USD 9,522.2 million in 2020, growing at a CAGR of 8.9% during the forecast period.
In Europe, the biosensors device market is driven by rising diagnostic requirements due to increasing lifestyle associated diseases, aging population and improving healthcare infrastructure. On the other hand, increasing healthcare costs has shifted the focus of healthcare from hospitals to home, which would increase the use of biosensors devices in the region.
However, Asia is becoming one of the most attractive markets for medical device companies. The growth for biosensor devices in Asia is much higher than developed countries due to widening health insurance penetration, large population base and up-gradation of health care systems.
Abbott Laboratories, Inc, Siemens Healthcare, Nova Biomedical Corporation, Bayer AG, Johnson and Johnson, Medtronic, Inc. and Hoffmann-La Roche, Ltd. are some of the major players of biosensors market.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
Persistence Market Research
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353