The global Biosensor Market is bound to witness stupendous growth In Upcoming Years. One of the upcoming trends is that of offbeat thinking being put into practice. Also, the demand regarding automation would rise by over 10% in the subsequent decade. Moreover, with user-generated content creating ripples, the market is bound to blur the gap between one-way communication and constructive feedback to adhere to the end-users mindshare.
According to a new market report published by Persistence Market Research “Global Market Study on Biosensor: Asia-Pacific to Witness Highest Growth by 2020,” the global biosensor market was valued at USD 12,963.6 million in 2014 and is expected to grow at a CAGR of 9.7% from 2014 to 2020, to reach an estimated value of USD 22,551.2 million in 2020.
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.
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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.
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