The Global Biosensor Industry is expected to grow at a CAGR of 9.6% from 2017 to 2020.
Over the past few years nanotechnology has becoming increasingly essential in the field of biosensors. The performance and sensitivity of biosensors is incredibly enhanced with the combination of nanomaterials into their construction. The biosensors works on various technologies which include biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors.
This report by MRFR majorly focuses on the biosensors which holds the largest market share among all others biosensor technologies. The biosensors plays a major role in the field of healthcare which include applications such as diagnosis, patient monitoring and many others. The end user such as point of care testing, diagnostics centers, research laboratories and various others influence the growth of the market.
The global biosensors by applications is segmented into diagnosis, patient monitoring and others. Diagnosis segment accounted for the largest market by application. The major factor that influence the growth of the market are the need for analyses in the clinical area with reliable analytical methods and devices.
Moreover biosensors offers various benefits over traditional diagnostic methods which include ease of use, quick results and accurate results, continuous monitoring with its portability. Moreover biosensors displays sensitivity, selectivity, and potential for application on real samples which is further influencing the growth of the market.
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The global biosensors by end user is majorly segmented into point of care testing, diagnostics center, research laboratories and others. The point of care segment holds the largest market by end user in 2016. Biosensors are next generation analytical tools for point of care testing. Demand for point of care testing is increasing due to increasing requirement of portable and integrated devices. It helps to perform tests close to the patient and also provide immediate results outside the laboratory.
It is an important tool used in intensive care units, clinics, emergency rooms and operating theatre. It also helps to improve patient care through remote patient care monitoring. Further, it helps clinicians to diagnose the cause of disease for immediate management. Thus, increasing demand for point of care testing would reduce the healthcare cost and helps to obtain precise and quick results of analytical tests.
The key findings of the report “Global Industry Insight: Global Biosensor Market Development and Forecast to 2020” include:
- Biosensor market expected to grow at CAGR of 9.6% during the period 2014-2020
- Geographically, North America has the largest share in global biosensors market, while Asia-Pacific has emerged as the fastest growing region
- Based on the technology, electrochemical biosensors has the largest market share in the biosensor market
- Security and biodefense are the most popular end user in the biosensors market
Key Players for Biosensor Market:
Some of the key players in this market are: Abbott Laboratories Inc., F. Hoffmann-La Roche Ltd., Bayer Healthcare, Johnson & Johnson, Medtronic, Inc., and Siemens Healthcare, Nova Biomedical Corporation, LifeSensors Inc., TiaDoc Technology Corporation, I-SENCE Inc.
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Regional Analysis of Biosensor Market:
Considering the global scenario of the market, Americas region is believed to be the largest market for biosensor. Moreover the European market is also growing continuously and slowly catching up with the American market. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the biosensor during the forecasted period. Middle East & Africa region are likely to have a limited but steady growth in the market.
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