Exclusive Analysis by MarketResearchFuture.com of Global Biosensors Market Research Report 2018 to 2020, with respect to region specific market growth and competitive analysis on the basis of major players present in the market. Detail analysis on possible segments and sub segments of the market. Provide country level analysis of the market with respect to the current market size and future prospective.
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Global Biosensors Market – Overview
Biosensor industry is expected to grow at a CAGR of 9.6% from 2014 to 2020. Globally the market for biosensor is increasing moderately. Biosensor is devices composed of transducer and biological element for providing analytical information. These devices convert biological response into an electrical response, to recognize the function and structure of various molecules. Biosensors are complicated and effective device capable of fast detection and measuring wide spectrum in various applications.
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.
It has various applications in the field of healthcare, industrial process control, military application, environmental monitoring, agriculture and veterinary monitoring. The global biosensor market is growing moderately due to increase in prevalence of diabetic population, rise in geriatric population, increasing demand of POCT, rising prevalence of chronic and lifestyle associated diseases, and increasing application of biosensors in various industries.
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.
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 Global biosensors market, on the basis of regions is divided into North America, Europe, Asia Pacific and Middle East and Africa. North America is expected to command the largest market share due to advanced technologies continuously on rise in these countries. Europe accounts for the second largest. Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment. Majorly due to recent developments in healthcare and improving economies and disposable income per individual. Middle East and Africa with less economic developments and extremely low income accounts for least market share in 2015 but is expected to grow with the increasing investment in research and development in the countries.
The North America Biosensor market is majorly divided in two countries which include U.S and Canada. In North America, biosensor market is driven due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.
Usage of biosensor technology in North America is high compared to other regions of the world due to technological advancements and broader application areas in different industries. Since, the healthcare expenditure is high in North America, biosensor devices are used extensively for accurate, reliable and quick results for early detection and prevention of diseases.
Similarly, according to European Federation of Pharmaceutical Industries and Associations, in 2012, the North American pharmaceutical market accounted for about 41% share of the total pharmaceutical market. This large market invests immensely in R&D of new drugs and thereby drives the demand for various biosensor devices for toxicity testing in the drug development process. Since, these biosensors devices are used in drug development and diagnoses, they are required to abide by certain regulations for efficacy and safety.
Major TOC of Global Biosensor Market Research Report- Forecast 2020:
1 Research Scope and Methodology
2 Executive Summary
3 Market Outlook
4 Global Market Size and Forecasts (2011 – 2020)
5 Global Market Breakdown by Technology
6 Global Market Breakdown by End User
7 Global Market Breakdown by Application
8 Global Market Breakdown by Region
9 Competitive Analysis and Market Share
10 Company Profiles
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