Market Research Future (MRFR) has announced a new release on the “Global Biosensors Market “that analyzes the market’s current and historical growth trajectory to come up with a detailed analysis of the market’s likely future growth trajectory over the forecast period.
Global Biosensors Market – Scenario
The report uses detailed primary and secondary information to provide a comprehensive overview of the global biosensors market, and includes detailed information about the market’s segmentation and competitive landscape to provide readers with a clear view of the market’s granular structure.
The global biosensors market is expected to grow at a solid CAGR of 9.6% from 2014 to 2020.Biosensors are devices used to track and monitor a particular biological parameter of the user’s health.
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Biosensors track the biological reactions going on inside the user’s body and convert certain predetermined markers into an electrical signal, acting as a warning system for the specific type of biomarker.
Competitive Analysis
Abbott Laboratories Inc.
Bayer Healthcare
Medtronic Inc.
Nova Biomedical Corporation
TiaDoc Technology Corporation
I-SENCE Inc., LifeSensors Inc.
Siemens Healthcare
Johnson & Johnson
Hoffman-La Roche Ltd.
Global Biosensors Market – Segmentation Analysis
The global biosensors market is segmented on the basis of end user, technology, application, and region.
On the basis of end use, the global biosensors market is segmented into point of care testing, home diagnostics, research laboratories, the food industry, security and biodefense, and others.
On the basis of application, the global biosensors market is segmented into medical testing, food toxicity, industrial processes, the environmental market, agricultural testing, and others.
On the basis of technology, the global biosensors market is segmented into electrochemical biosensors, optical biosensors, thermal biosensors, piezoelectric biosensors, and others. Optical biosensors held a dominant share in the global biosensors market in 2013 and are likely to remain the leading contributor to the global biosensors market over the forecast period.
Growth and Analysis
Biosensors are complicated devices and are also widely used in areas other than personal health tracking, including environmental monitoring and agriculture. However, the rising demand for biosensors from the healthcare sector is likely to remain the major driver for the global biosensors market over the forecast period.
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Developing biosensors capable of instant diagnosis is likely to be a major avenue for players in the global biosensors market over the forecast period.
The growing prevalence of diabetes and other chronic lifestyle conditions is likely to be a major driver for the global biosensors market over the forecast period. These conditions require continuous tracking and instant alerting in case of any deviation from the healthy biological pattern, which is a perfectly suited application for biosensors.
The growing geriatric population is also likely to be a major driver for the global biosensors market, as the geriatric demographic prefers comfortable and convenient medical devices that can be used with minimum fuss.
The rising demand for point of care testing, along with the growth of the geriatric demographic, is also likely to be a major driver for the biosensors market over the forecast period.
Global Biosensors Market – Regional Analysis
The global biosensors market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is likely to remain the major regional segment of the global biosensors market over the forecast period, due mainly to the leading role of the U.S. in the global biosensors market.
The growing prevalence of chronic lifestyle diseases such as diabetes in the U.S. is likely to be a major driver for the global biosensors market over the forecast period. The high development rate of the healthcare sector in North America is also likely to be a major driver for the biosensors market in the Americas, as several key players in the healthcare sector are located in the region and are likely to come up with innovations in the biosensors market in the coming years.
Asia Pacific is expected to exhibit the highest rate of growth in the global biosensors market thanks to the growing healthcare sector in the emerging countries in the region as well as the growing prevalence of diabetes and other chronic disorders.
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