The bio-detection market is expected to experience growth, reaching a value of USD 12.27 billion from 2022 to 2027- 17000 + Technavio

NEW YORK, Jan. 22, 2024 /PRNewswire/ -- The bio-detection market is estimated to grow by USD 12.27 billion from 2022 to 2027 at a CAGR of 12.96% according to Technavio. The key companies include 20/20 GeneSystems Inc., 3M Co., Abbott Laboratories, AdVnt Biotechnologies LLC, Agilent Technologies Inc., Alexeter Technologies LLC, Bertin Technologies SAS, Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., F. Hoffmann La Roche Ltd., Illumina Inc., MBio Diagnostics Inc., Physical Sciences Inc., PositiveID Corp., Research International Inc., Response Biomedical Corp., Sense Biodetection Inc, Smiths Group Plc, and Thermo Fisher Scientific Inc.

• Companies: 15+, Including 20/20 GeneSystems Inc., 3M Co., Abbott Laboratories, AdVnt Biotechnologies LLC, Agilent Technologies Inc., Alexeter Technologies LLC, Bertin Technologies SAS, Bio Rad Laboratories Inc., Bruker Corp., Danaher Corp., F. Hoffmann La Roche Ltd., Illumina Inc., MBio Diagnostics Inc., Physical Sciences Inc., PositiveID Corp., Research International Inc., Response Biomedical Corp., Sense Biodetection Inc, Smiths Group Plc, and Thermo Fisher Scientific Inc., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and positioning of companies
• Segments: Application (Clinical, Food and environmental, and Defense), Product (Instruments, Accessories and consumables, and Reagents and media), and Geography (North America, Europe, Asia, and the Rest of World (ROW))

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Increasing initiatives for rapid diagnostics of diseases is a key factor driving growth. The increasing applications of microorganisms is an emerging trend. The inadequate healthcare services in developing regions is a significant challenge restricting growth. 

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What are the key data covered in this report? 

• CAGR during the forecast period
• Detailed information on factors that will drive the growth  between 2023 and 2027
• Precise estimation of the size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Bio-detection industry across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth

Enhancing Diagnostic Access through Technological Advancements

Government funding is increasing to enhance diagnostic access through technological advancements, prioritizing bio-detection products' accessibility globally, particularly in developed and developing nations. Despite companies developing high-quality diagnostic technologies for chronic and infectious diseases, accessibility remains an issue in developing countries like India and China. Governments are emphasizing initiatives to improve diagnostic accessibility, with developing countries such as Brazil, South Africa, India, Zambia, and China receiving access to in vitro diagnostic devices at preferential prices through international organizations like Unitaid, which aims to prevent, diagnose, and treat TB, malaria, and other infectious diseases. This drive encompasses various technologies such as biosensors, immunoassays, molecular diagnostics, microarray technology, and lab-on-a-chip devices, among others, to bolster bio-detection capabilities worldwide.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Application

Segmentation by Product

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio