The global biosensors market is anticipated to grow at a significant CAGR of 8.2% during the forecast period. Biosensors are devices, which are used for detecting an analyte and a physiochemical component to produce a measurable signal. Biosensors majorly comprise three parts including a component that identifies analyte, produces a signal, and reader devices. The most commonly used biosensors are glucose detectors and pregnancy tests. The major factor that is augmenting the global biosensor market is the rising number of diabetes patients and increasing application of biosensors in the medical sector. For instance, diabetes patients are using biosensors to monitor glucose levels at home and cost-efficient and user-friendly devices are available in the market for testing.
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Furthermore, the rising application of biosensors, the rising prevalence of chronic and lifestyle-induced diseases, and the government initiatives for the development of proteomics and genomics are the factors that are anticipated to drive the global biosensors market during the forecast period. However, strict regulatory requirements and compensation plans, high costs associated with the biosensor devices, and lack of inclination toward the adoption of new treatment devices are the major factors that are anticipated to restraining the growth of the market. On the contrary, increasing product inventions, technological advancements in biosensors, and the ever-increasing precision and accuracy of the biosensors in a minute sample volume are to create lucrative opportunities in the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Biosensors Market Report Segment
By Technology
- Optical Sensors
- Thermal Sensors
- Piezoelectric Sensors
- Electrochemical Sensors
By Application
- Medical Application
o Diabetes
o Cardiac Disease
o Pregnancy Tests
o Cancer
o Blood-Related Issues
o Infectious disease
- Food Toxicity Detection
- Agriculture
- Bioreactor
- Others (Environment)
By End-User
- Home Healthcare Diagnostic
- Point Of Care Testing
- Research Laboratory
- Food Industry
- Others (Security & Bio-defense)
Global Biosensors Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of the Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global biosensors market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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