Biosensor Market 2022-2027
The Biosensor Market is meant to grow on a splendid note in the next decade. With technology creeping in, the time-consuming routine is being taken over by telehealth/e-Health records. Almost everything that was happening in person has been taken over by remote monitoring. This has helped in transcending the geographical barriers as well. These would be the trends concerning the Biosensor Market in the future.
According to a new market report published by Persistence Market Research “Global Market Study on Biosensor: Asia-Pacific to Witness Highest Growth by 2022,” the global biosensor market was valued at USD 12,963.6 million in 2022 and is expected to grow at a CAGR of 9.7% from 2022 to 2027, to reach an estimated value of USD 22,551.2 million in 2027.
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Globally, the biosensors market is witnessing significant growth due to increasing demand of point of care testing. In addition, rising prevalence of chronic and lifestyle associated diseases, growing geriatric population, increasing application of biosensors in various industries and growing application of nanotechnology in healthcare are also driving the growth of the market.
Key Players:
The report has profiled some of the important players prevalent in the global like – Abbott Laboratories, Inc, Siemens Healthcare, Nova Biomedical Corporation, Bayer AG, Johnson and Johnson, Medtronic, Inc. and Hoffmann-La Roche, Ltd, and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Biosensor Market.
In addition, emergence and demand of personalized medicine and non-invasive biosensors would also drive the growth for the market. However, strict regulatory requirements and reimbursement policy issues in healthcare system hamper growth of the global biosensors market. In addition, the regulatory process is not keeping pace with the rapid development of new medical technologies. The global biosensors market is anticipated to grow from an estimated USD 12,963.6 million in 2022 to USD 22,551.2 million in 2027 at a CAGR of 9.7% during the forecast period.
In North America, growing aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and appropriate insurance coverage are driving the use of biosensor devices in the market.
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.
However, Asia is becoming one of the most attractive markets for medical device companies. The growth for biosensor devices in Asia is much higher than developed countries due to widening health insurance penetration, large population base and up-gradation of health care systems.
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.
The biosensors market is segmented as follows:
Biosensors market, by technology
- Electrochemical biosensors
- Optical biosensors
- Piezoelectric biosensors
- Thermistor biosensors
Biosensors market, by application
- Medical diagnostics
- Food toxicity detection
- Industrial process control
- Environmental
- Agricultural testing
Biosensors market, by end user
- Point-of-care testing
- Home healthcare diagnostics
- Research laboratories
- Security and bio-defense
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Biosensor Market Manufacturers
Biosensor Market Distributors/Traders/Wholesalers
Biosensor Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Key Questions Answered in the Biosensor Market Report
How is the Biosensor Market expected to grow over the projected period?
What direction is the Biosensor Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Biosensor Market in future?
What are the key market drivers in the Biosensor Market?
What are significant opportunities and improvement areas for Biosensor Market manufacturers?
What are the key developments and trends taking over the Biosensor Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Biosensor Market?
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