Rise in chronic diseases such as diabetes, increase in investment for research and development (R&D) activities, and adoption of nanotechnology for the development of biosensors drive the global biosensors market.
According to the report published by Allied Market Research, the global biosensor market generated $17.50 billion in 2018, and is expected to generate $38.60 billion by 2026, registering a CAGR of 10.4% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, top winning strategies, business performance, top player positioning, and competitive heat map.
Rise in chronic diseases such as diabetes, increase in investment for research and development (R&D) activities, and adoption of nanotechnology for the development of biosensors boost the growth of the global biosensors market. However, huge investment required for research and development (R&D) activities hinder the market growth. On the other hand, adoption of innovative technologies in biosensors to improve its efficiency is anticipated to offer new opportunities in the coming years.
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- The R&D activities for biosensors have been rapidly increased during novel coronavirus pandemic.
- Researchers at the Swiss Federal Institute of Technology, Zürich have been working on priority to invent a biosensor that will help to detect Covid-19 in areas such as train stations and hospitals, where the probability of infection is high.
The report offers a detailed segmentation of the global biosensor market based on product, technology, and region.
Based on product, the majority of share was contributed by non-wearable biosensors segment. It accounted for more than half of the total share in 2018, and is estimated to maintain its lead position during the forecast period. However, the wearable biosensors segment is anticipated to grow at the highest CAGR of 11.1% during the forecast period.
Based on technology, the majority of share was contributed by the electrochemical biosensors segment, accounting for more than one-third of the total share in 2018, and is expected to maintain the its dominance from 2019 to 2026. However, the optical biosensors segment is estimated to portray the highest CAGR of 11.5% during the forecast period.
Based on region, North America will maintain its dominance throughout the forecast period and contributed the majority share, which is more than two-fifths of the total market share, in 2018. However, Asia-Pacific is projected to grow at the largest CAGR of 12.2% during the forecast period.
The market report provides an in-depth analysis of the major market players such as
- 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.
Scope of The Report:
|Market size available for years||2020-2026|
|Base year considered||2019|
|Forecast units||Value (USD)|
|Segments covered||Product, Technology, Region|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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