Biosensors Market: Global Industry Analysis and Forecast (2022-2029), Technology Trends

Biosensors Market size was valued at US$ 25.49 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 7.5% through 2021 to 2029, reaching nearly US$ 45.47 Bn.
Biosensors Market Overview:
Air and water quality is monitored using biosensors. For example, the devices can be used to detect amounts of organophosphates from pesticides or to assess the toxicity of wastewater. A biological signal is converted into an electrical signal via biosensors. Even when they don't employ a biological system directly, biosensors are used to determine the concentration of chemicals and other biologically relevant data.


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Biosensors Market Dynamics:
Biosensors are being utilised extensively in-home healthcare by patients, owing to their capacity to assess health status, illness start, and progression, and are expected to boost biosensors market growth during the forecast period 2022-2029. Besides, technical developments as well as a variety of non-medical applications are the other factors that are expected to boost the growth of the market for biosensors.

According to the International Diabetic Federation, the prevalence of diabetes is rising at an annual rate of roughly 8.0%, with over 590 million people expected to develop diabetes by 2035, resulting in significant biosensors market growth during the forecast period. As a result of their ability to measure health status and monitor illness start and progression, they are widely utilised in home healthcare and are expected to drive biosensors market growth.

Government initiatives focused at the advancement of genomics and proteomics are expected to drive the growth of the biosensor market during the forecast period 2022-2029. National Information and Communication Technology Australia, for example, is expected to increase its data mining, networks, and embedded systems research in this subject. Besides, the Chinese government is investing substantially in its computing networks, which were launched by the Chinese Academy of Sciences and are funded by the Ministry of Science and Technology. Furthermore, most IT companies are significantly investing in the biosensors sector. Biosensors Market growth is expected to be boosted by investments from major IT companies such as Infosys, TCS, and IBM.
Biosensors Market Segment Analysis:
Based on the Type, the market is segmented into Sensor Patch, and Embedded Device. Embedded Device segment is expected to hold the largest market share of xx% by 2029. Point-of-care, home diagnostics, food and beverage, research lab, environmental monitoring, and biodefense are just a few of the uses for these devices. The growth of Internet of Things (IoT) devices has resulted in a significant shift in connected healthcare applications. IoT allows for real-time alerting, tracking, and monitoring, allowing for hands-on treatments, increased accuracy, appropriate medical intervention, and better overall patient care. Many healthcare facilities have begun to implement embedded solutions for IoT-enabled medical devices in order to solve the shortage of doctors in rural areas. These Internet of Things-enabled medical gadgets assist in identifying disorders in patients and performing various tests in order to deliver accurate and dependable therapy to patients in remote areas. As a result, embedded devices are becoming more popular.

Based on the Application, the market is segmented into Point of Care, Home Diagnostics, Research Lab, Biodefense, Environmental Monitoring, Food & Beverages, and Agriculture. Home Diagnostics segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. The biosensors market growth can be due to rising healthcare advances, a high rate of acceptance of new diagnostic procedures, and the convenience of employing home-based medical devices. Demand for home diagnostics has increased as a result of the new coronavirus outbreak. As a result, manufacturers in the home diagnostics sector are increasing their capacity. Besides, demand for wearable devices is increasing, and as lifestyle disorders grow more widespread, the biosensors market in the home diagnostics segment has enormous potential.


Biosensors Market Regional Insights:
Asia Pacific region is expected to dominate the Biosensors market during the forecast period 2022-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. The presence of a huge population base and the rising incidence of various lifestyle disorders are the major drivers of biosensors market growth in Asia Pacific. In terms of foreign investment, China's healthcare industry has been gradually opening up to international participation, both in terms of things removed from the National Negative List and those added to the National Encouraged List. In 2021, the National Encouraged List was updated to include new raw materials for vaccine production and medical institutions. This suggests that China is increasingly encouraging healthcare investment and providing possibilities for international investors to benefit from preferential regulations and tax rates. Such policies are expected to open up a slew of chances for the biosensors market during the forecast period 2022-2029.
Biosensors Market Key Trends:
Biosensors for Genetic Disease Detection and Mutation Screening

Scientists at the University of California, San Diego, have developed a platform that can detect mutations in DNA with extreme sensitivity. A huge research group led by the Center of Excellence for Nanomedicine and Engineering created a sensor that can identify single nucleotide polymorphisms (SNPs) in a DNA sequence. SNPs are variations in the sequence of a single nucleotide in a gene. This mutation has been linked to a range of disorders, including cancer, heart disease, diabetes, and autoimmune diseases, despite the fact that it has no acute health consequences.

The researchers used a synthesised DNA sequence to encapsulate a graphene field effect transistor that is complimentary to the mutation being examined. An electrical signal is generated as DNA or RNA sequences with SNP mutations are found. This biosensor, according to the scientists, is a prototype for a one-day implanted device that can identify SNPs and genetic alterations in real time and notify users via mobile phone.

Wearable Biosensors for Wellness Monitoring

In continuous health monitoring, wearable biosensors are gaining traction. Wireless sensors encased in bandages or patches, or in a body-worn form factor, are used for sensing. The data collected by biosensors is processed and used to predict the likelihood of a patient's clinical condition deteriorating, as well as to track the impact of necessary clinical measures. Sweat, blood, and other biological substances are frequent analytes used to generate clinical outcomes. The Fraunhofer Institute in Germany has created a non-invasive, wearable nano-biosensor for continuous glucose monitoring. The glucose levels are measured by the body-worn gadget using tissue fluids such as tears or sweat. This non-invasive glucose monitoring technology, which is still under development, is seen as the wearables industry's next benchmark.

The objective of the report is to present a comprehensive analysis of the Global Biosensors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Biosensors Market dynamic, structure by analyzing the market segments and project the Global Biosensors Market size. Clear representation of competitive analysis of key players by Product Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Biosensors Market make the report investor’s guide.
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Global Biosensors Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 25.49 Bn.


Forecast Period 2022 to 2029 CAGR:
7.5%
Market Size in 2029:
US $ 45.47 Bn.


 Segments Covered:
by Type
• Sensor Patch
• Embedded Device


by Product
• Wearable Biosensors
• Non-wearable Biosensors


by Technology
• Electrochemical Biosensors
• Optical Biosensors
• Piezoelectric Biosensors
• Thermal Biosensors
• Nanomechanical Biosensors


by Application
• Point of Care
• Home Diagnostics
• Research Lab
• Biodefense
• Environmental Monitoring
• Food & Beverages
• Agriculture



Biosensors Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Biosensors Market Key Players
• Abbott Point of Care Inc.
• Universal Biosensors Inc.
• LifeScan Inc.
• Medtronic Inc.
• F. Hoffman-La Roche Ltd.
• DuPont
• Sysmex Corporation
• Bio-Rad laboratories Inc.
• Pharmaco-Kinesis Corporation
• Nova Biomedical Corp
• ACON Laboratories, Inc.
• LifeSensors Inc.
• Biosensors International Group Ltd.
• Roche
• Cytiva
• Dexcom, Inc.
Frequently Asked Questions:
1. Which region has the largest share in Global Biosensors Market?
Ans: Asia Pacific region holds the highest share in 2021.

2. What is the growth rate of Global Biosensors Market?
Ans: The Global Biosensors Market is growing at a CAGR of 7.5% during forecasting period 2022-2029.

3. What is scope of the Global Biosensors market report?
Ans: Global Biosensors Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Biosensors market?
Ans: The important key players in the Global Biosensors Market are – Abbott Point of Care Inc., Universal Biosensors Inc., LifeScan Inc., Medtronic Inc., F. Hoffman-La Roche Ltd., DuPont, Sysmex Corporation, Bio-Rad laboratories Inc., Pharmaco-Kinesis Corporation, Nova Biomedical Corp, ACON Laboratories, Inc., LifeSensors Inc., Biosensors International Group Ltd., Roche, Cytiva, Dexcom, and Inc.

5. What is the study period of this market?
Ans: The Global Biosensors Market is studied from 2021 to 2029.