Global Biosensors Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Biosensors Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global biosensors market report has been segmented on the basis of product, technology, application, and region.

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Global Biosensors Market: Overview

Biosensors are analytical devices that contain a combination of biological detecting components such as a transducer and sensor system. These sensors have features such as sensitivity, stability, and reproducibility. Biosensors can be divided into four types namely voltammetric biosensors, impedimetric biosensors, potentiometric biosensors, and amperometric biosensors.

Global Biosensors Market: Dynamics

Increasing adoption of biosensors for glucose level monitoring in the healthcare sector is a major factor driving growth of the global biosensors market. In addition, high adoption of biosensors for point of care applications for monitoring and testing the health condition of an individual is another factor supporting growth of the global market. Development of nanotechnology-based biosensors is a factor fueling growth of the target market. Furthermore, government initiatives for the use of advanced technology for diagnostics is a factor expected to support growth of the global biosensors market in the near future.

However, the high cost of research and development activities is a factor that may hamper growth of the global biosensors market. In addition, the slow rate of commercialization of biosensors is another factor that could affect growth of the global market. Nevertheless, increasing demand for biosensors for environmental monitoring and in food and beverage sector can create high revenue opportunities for players in the target market.

Global Biosensors Market: Segment Analysis

Among the product segments, the wearable biosensors segment is expected to register high growth in terms of revenue over the forecast period. Increasing adoption of wearables for health monitoring as they are cost-effective, easy to use, and offer mobility and comfort to the end users is a factor driving growth of the wearable biosensors segment in the global market.

Among the technology segments, the optical biosensors segment is expected to register lucrative growth in terms of revenue in the near future. Optical biosensors offer label-free, real-time, and direct detection of various chemical and biological substances. They are cost-effective sensors that come in small size. Optical biosensors also offer high sensitivity and specificity. These are some of the factors supporting growth of this segment in the target market.

Global Biosensors Market: Regional Analysis

Currently, the market in North America accounts for major share in terms of revenue and is expected to register lucrative growth over the forecast period. Growing prevalence of chronic diseases is a major factor driving growth of the target market in this region. In addition, increasing demand for point of care devices such as glucose monitoring, hematology devices, coagulation monitoring, cholesterol testing, etc. is another factor fueling growth of the target market, especially in the US in this region.

Market in Asia Pacific is expected to register the fastest growth in terms of revenue in the near future. Growing healthcare infrastructure, coupled with increasing healthcare spending are factors supporting growth of the target market in this region. Additionally, rising awareness regarding various diseases and their treatment among individuals is another factor anticipated to augment growth of the biosensors market in the next 10 years.

Global Biosensors Market Segmentation:

Segmentation by Product:

Non-wearable Biosensors
Wearable Biosensors
Body Wear
Neckwear
Footwear
Eyewear
Wrist Wear

Segmentation by Technology:

Nano-Mechanical Biosensors
Thermal Biosensors
Piezoelectric Biosensors
Optical Biosensors
Electrochemical Biosensors

Segmentation by Application:

Food & Beverages
Environmental Monitoring
Biodefense
Research Lab
Home Diagnostics
Point of care (POC)