Biosensors Market 2023, Share, Growth, Size, Trends and Forecast 2028
According to the latest report by IMARC Group “Biosensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global biosensors market size reached US$ 26.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 43.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Biosensors refer to medical devices that are used to detect the presence of biological substances, such as biomolecules and microorganisms. They are embedded with an analyte, mediator, transducer and reader device to convert a biological response into an electrical signal. They are widely utilized to monitor disease progression and assist in drug discovery and forensic research. Apart from this, these devices also assist in the treatment of numerous chronic and lifestyle disorders by monitoring regular pathogenic activities in the body.
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Biosensors Market Trends:
The global market is primarily driven by significant growth in the healthcare sector. Along with this, continual technological advancements in the sector are creating a positive outlook for the market. For instance, the widespread integration of fluorescence tags and the increasing usage of nanomaterials, such as quartz and crystal, to improve the detection limit and sensitivity is also providing an impetus to the market growth. Additionally, significant investments by public and private authorities in the development of genomics and proteomics are also contributing to the market growth. Extensive research and development (RD) activities in the field of biotechnology are further acting as major growth-inducing factors.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
- Wearable Biosensors
- Non-Wearable Biosensors
- Electrochemical Biosensors
- Optical Biosensors
- Piezoelectric Biosensors
- Thermal Biosensors
- Nanomechanical Biosensors
- Others
- Blood Glucose Testing
- Cholesterol Testing
- Blood Gas Analysis
- Pregnancy Testing
- Drug Discovery
- Infectious Disease Testing
- Others
- Point of Care Testing
- Home Healthcare Diagnostics
- Research Laboratories
- Security and Biodefense
- Others
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
- Abbott Laboratories
- AgaMatrix Inc. (WaveForm Technologies Inc)
- DuPont de Nemours Inc.
- F. Hoffmann-La Roche AG
- General Electric Company
- LifeScan Inc. (Platinum Equity LLC)
- Medtronic PLC
- Nova Biomedical Corporation
- PHC Holdings Corporation
- Siemens AG and Thermo Fisher Scientific Inc.
