Global Biosensors Market - Analysis and Forecast (2018 -2027)
NEW YORK, May 15, 2018 /PRNewswire/ -- Global Biosensors Market to Reach $3.90 Billion by 2027, Reports BIS Research
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The global biosensors industry is approaching towards multi-billion market which consists of multitudinous companies involved in the manufacturing of biosensors with different technologies to strengthen the growing demand for biosensors.
Different types of biosensing technologies currently in use are electrochemical, optical, piezoelectric, and thermal.In less turnaround time, biosensors have become an essential tool for the healthcare companies and laboratories that are facing increasing level of demand for the point of care testing devices and home diagnostics.
Biosensors have diversified applications which includes clinical diagnosis, environmental testing, biodefense, research laboratory testing and process industries, among others.Biosensors can provide easy-to-use, cost-effective, highly accurate and sensitive detection devices in a variety of commercial and research applications.
Furthermore, the advent of biosensing technologies in R&D procedures and diagnostic procedures have enabled the companies to meet the regulatory compliance as well as manage their profit margins and remain competitive in the market.
The purpose of this study is to gain a holistic view of the biosensors market in terms of various influencing factors, such as recent trends and technological advancements.The scope of this report constitutes of an in-depth study of the global biosensors market, including a thorough analysis of the products across different regions.
The market has been segmented into 'technology, 'application', and 'regions'.The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well informed strategic decisions.
The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global biosensors market with the help of the key factors driving the market, restraints and challenges that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.The report includes an in-depth examination of the key ecosystem players and key strategies and developments taking place in this market.
Moreover, the report includes chapters on market dynamics (market drivers, opportunities and challenges) and industry analysis as well.
The research study considers the market share analysis for a comprehensive understanding of the global biosensors market, and assesses the factors governing the same.Porter's Five Force analysis and detailed product mapping have been included in the report.
The market by region has been further sub-segmented in various countries, and in each sub-segment the key market trends, list of the key players, and the recent developments that have taken place, have been discussed.
The answers to the following key questions can be derived from this report:
• What are the major market drivers, challenges and opportunities in the global biosensors market?
• What was the market value of the leading segments and sub-segments of the global biosensors market in 2017?
• How will each segment of the global biosensors market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2027?
• How will the industry evolve during the forecast period 2018- 2027?
• What are the key developmental strategies that are being implemented by the key players to sustain in this market?
• How has the market been segmented on the different types of biosensing technology? Which type of biosensing technology is being adopted extensively by the users and why?
• Who are the key players in the biosensors market and what are their contributions?
• What are the major benefits of the implementation of biosensors in different field of applications including point of care, environmental, research laboratories, home diagnostics, biodefence, and process industries?
• What will be the growth rate of the Point of Care application during the forecast period?
• Which geographical location will contribute to the highest sales of the biosensors during the forecast period?
• What is the scope of biosensors in the emerging economies of Asia and Latin America?
The key players who have been contributing significantly to the biosensors market include Drop Diagnostics, Abbott Laboratories, Anitoa Systems, LLC, Assure Controls, Inc., Angle PLC, Binergy Scientific Inc., Biolan MicroBioSensores, C-CIT Sensors AG, Cognionics, Inc., Danaher Corporation, Dynamic Biosensors GmbH, HMicro Inc., LamdaGen Corporation, NeuroSky, PerkinElmer, Inc., Polestar Technologies, ProXentia S.r.l., Resodyn Corporation , Sarissa Biomedical Ltd, Sensogram Technologies, Inc., Siemens Healthineers, Merck KGaA, Sierra Sensors GmbH, Universal Biosensors, Inc., and World Precision Instruments among others.
Executive Summary
The growing geriatric population and high prevalence of chronic diseases have significantly elevated the demand for clinical diagnostic services.By 2030, the global economic impact of five leading chronic diseases: cancer, diabetes, mental illness, heart disease, and respiratory disease, is anticipated to reach $47 trillion.
The invasive nature of traditional laboratory procedures causes considerable pressure on the patient due to the frequent physical trauma which made continuous monitoring of the disease practically impossible.Moreover, the growing burden of geriatric population has elevated the requirement of devices enabling continuous monitoring of a disease with short turnaround times.
Additionally, the high prevalence of chronic diseases has resulted in massive economic burden of healthcare spending.The technological advancements in the field of point of care testing based on biosensing technologies, are anticipated to address the problem of massive healthcare burden and aid in combating several prime concerns to the global health.
The global healthcare expenditure was valued approximately $7 trillion in 2015 and is anticipated to reach $8.5 trillion by 2020.
The technological innovations in the field of bioelectronics, nanotechnology, and microfabrication have resulted in the development of biosensors.The emergence of point of care solutions based on biosensing technologies has facilitated continuous monitoring of disease and significantly reduced monetary burden imposed on patients, due to frequent clinical diagnostic tests.
Besides, the minimal invasive nature of point of care devices has alleviated the physical stress on the patients caused due to the invasive nature of the traditional laboratory diagnostic procedures.The massive success of glucose monitoring devices based on biosensing technologies has resulted in their prolific employment in several other point of care solutions such as glucose monitoring, cardiac marker analysis, infectious diseases, coagulation analysis, urinalysis, and cancer marker analysis, among others.
This exhaustive utilization has significantly widened the scope of biosensors and resulted in development of biosensing technologies for non-medical applications such as environmental monitoring, food control, drug discovery, forensics, process industries, and biomedical research, among others.
The purpose of the study is to gain a holistic view of the global biosensors market in terms of various factors influencing it such as recent trends and technological advancements of the market.The scope of this report is centred upon conducting a detailed study of the different technologies allied with the biosensors market, which includes electrochemical, optical, thermal, and piezoelectric, among others.
The global biosensors market is segmented into three different parts namely by technology, by application, and by region.The global market value was estimated using these three different approaches and was validated with one another.
These segments are further segmented into several sub- segments to ease the market estimation and to gain a holistic view of the market.
The global biosensors market was valued $1.46 billion in 2017. With the growing prominence of point of care testing services, aided by rising geriatric population and rapid incorporation of biosensing technologies in non-medical applications, the global biosensors market is anticipated to witness an impressive double-digit growth rate. The global biosensors market is currently dominated by electrochemical biosensors. The high contribution of electrochemical biosensors to the market is attributed to the massive demand for glucose monitoring systems and prolific employment of electrochemical biosensors in them. However, the optical biosensors are anticipated to witness the highest growth rate in the forecast period 2018-2027. The biosensors pertaining to point of care applications witnessed the highest industry demand in 2017, owing to the high prevalence of chronic diseases. Besides, the biosensing technologies specific to biodefence applications are expected to witness an impressive CAGR of 14.26% in the forecast period 2018-2027.
The global biosensors market is segmented based on the geographical regions into North America, Europe, Asia Pacific, Latin America, and Rest of the World (RoW).North America is the leading contributor to the global biosensors market and contributed 40% of the global market values in 2017.
However, the Asia Pacific biosensors market is anticipated to grow with a double-digit CAGR in the forecast period 2018-2027. The trans-pacific partnership (TPP), which is functional among few nations across the Asia Pacific region, has boosted the growth of Asia Pacific medical device industry, resulting in high demand for biosensing technologies.
The key players who have significant contributions to global biosensors market are 1Drop Diagnostics, Abbott Laboratories, Anitoa Systems LLC, Axela Inc., Biolan MicroBioSensores, C-CIT Sensors AG, COGNIONICS, INC., Danaher Corporation, Dynamic Biosensors, Hmicro Inc., Merck KGaA, NeuroSky, PerkinElmer Inc. , Polestar Technologies, Proxentia Srl, Resodyn Corporation, Sarissa Biomedical Ltd, Sensogram Technologies, Inc., Siemens Healthcare GmbH, Sierra Sensors GmbH, and Universal Biosensors, Inc., among others.
Countries Covered
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Switzerland
• Ireland
• Italy
• Netherlands
• Spain
• Belgium
• Rest of the Europe
• Asia Pacific
• China
• Japan
• India
• Singapore
• Thailand
• Australia
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