Biosensors Market Insights:
Biosensors Market is projected to be worth USD 45.99 Billion by 2030, registering a CAGR of 7.9% during the forecast period (2022-2030), the market was valued at USD 23.20 Billion in 2021. In 2021, the electrochemical sub-segment led the biosensors market, accounting for approximately 68.7% of total revenue. In 2021, the medical category accounting for around 66.9% of the biosensors market owing to increasing application of biosensors such as cholesterol testing, blood glucose monitoring. North America led the growth of the biosensors market owing to the existence of key companies.
Biosensors Market Dynamics:
Biosensors are transducers and a biological ingredient, such as an antibody, enzyme, or nucleic acid, forms the tool. The element works in conjunction with the transducer converting the biological reaction into an electrical signal and analyte being tested. Biosensors are also known as, optrodes, immunosensors, chemical canaries, resonant mirrors, biochips, biocomputers, and glucometers, depending on their use.
Driver:
The biosensor market is mainly driven by the increasing demand for medical applications, such as a need for tiny diagnostic devices, a growing diabetes population, and quick technological improvements. Further, the demand for user-friendly, disposable, and cost-effective devices combined with quick response times has driven the growth of the biosensors market during the forecast period.
Restraint:
The biosensors market is expected to be restrained by stringent regulatory standards and complex reimbursement scenarios ratified in the global healthcare segment. Further, adjustment of newer technologies as per existing rules is time-consuming, hampering biosensor acceptance and limiting the global biosensors market’s progress.
Opportunity:
Wearable biosensors are expected to create lucrative opportunities for the market owing to continuous monitoring of vital signs of premature infants, fitness buffs, athletes, and individuals in remote areas away from medical services.
COVID-19 Analysis of Biosensors Market:
The biosensors market has been severely impacted since the COVID-19 epidemic in many different parts of the world. Shipments were impacted during the initial lockdown due to a labor shortage and the closure of a manufacturing facility. The pandemic’s initial effects on China were tremendous. However, the nation’s circumstances have stabilized, and all product and service production rates have increased. As a result, it is determined that COVID-19’s overall impact on the biosensors market is moderate.
Biosensors Market Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 45.99 |
| CAGR (2022-2030) | 7.9 % |
| By Type | Sensor Patch, Embedded Device |
| By Product | Wearable Biosensors, Non-wearable Biosensors |
| By Technology | Thermal, Electrochemical, Piezoeletric, Optical |
| By Application | Medical – Cholesterol, Blood glucose, Blood gas analyzer, Pregnancy testing, Drug discovery, Infectious disease
Food toxicity, Bioreactor, Agriculture, Environment, Others |
| By End Use | Home healthcare diagnostics, POC testing, Food industry, Research laboratories, Security and bio-defense |
| By geography | North America– (U.S., Canada, Mexico
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA) |
| Key Players | Bio-Rad Laboratories Inc.; Medtronic; Abbott Laboratories; Biosensors International Group Ltd.; Pinnacle Technologies Inc.; Ercon, Inc.; DuPont Biosensor Materials; Johnson & Johnson; Koninklijke Philips N.V.; LifeScan, Inc.; QTL Biodetection LLC; Molecular Devices Corp.; Nova Biomedical; Molex LLC; TDK Corporation; Zimmer & Peacock AS; Siemens Healthcare |
Biosensors Market Segment Analysis:
By Technology
In 2021, the electrochemical sub-segment led the biosensors market, accounting for approximately 68.7% of total revenue. Owing to the widespread measurement and analytical application in biological and biochemical processes. These biosensors have a wide linear response range, low detection limits, excellent repeatability, and stability. Electrochemical detection beats thermal, piezoelectric, and optical detection in terms of market penetration and consumption. Some of the advantages are compatibility with new microfabrication technologies, robustness, freedom from sample turbidity, ease of operation, disability, cheap cost, and low power requirements.
By Application
In 2021, the medical category ruled the market, accounting for around 66.9% of the biosensors market. In the medical industry, biosensors are utilized in cholesterol testing, blood glucose monitoring, blood gas analysis, pregnancy testing, drug discovery, and infectious illnesses. It is recognized as a critical tool for detecting and monitoring a wide range of medical conditions, including diabetes and cancer. The increased incidence of diabetes is a primary factor driving the segment’s rise in the biosensors market. A range of improved glucose biosensors has been created to assist diabetic patients in maintaining normal blood glucose levels.
By End-use
In 2021, the point-of-care testing in the end-use segment held the largest market, accounting for nearly 49.2%. Advances in technology such as point-of-care applications for biosensors and ultrasensitive printables that help monitor or sense organic fluids such as urine, perspiration, blood, and saliva. The above-mentioned factor is the key driver responsible for the growth of biosensors in the PoC testing market. These devices give consumers quick and precise findings, allowing for early diagnosis and treatment. Growing R&D is resulting in the advance of next-generation point-of-care biosensors, such as localized surface plasmon resonance, improved spectroscopy techniques, and surface plasmon resonance, which are expected to boost the demand for the biosensors market.
By Region
North America led the growth of the market with the greatest revenue share of 39.8%, owing to the existence of key companies and the growing incidence rate of targeted illnesses in the area, in 2021. Technological advancements such as the initiation of tiny diagnostic equipment that allows higher market saturation of Electronic Medical Records (EMR), and speedy and precise results, are predicted to boost the market expansion during the forecast period. Also, Clean Water Act, the Clean Air Act, and National Environmental Policy Act all occur in the US and are expected to generate significant development opportunities for the North American market.
Biosensors Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and product launches have accelerated the growth of the Biosensors Market. Key players in the market include-
- Bio-Rad Laboratories Inc.
- Medtronic
- Abbott Laboratories
- Biosensors International Group, Ltd.
- Pinnacle Technologies Inc.
- Ercon, Inc.
- DuPont Biosensor Materials
- Johnson & Johnson
- Koninklijke Philips N.V.
- LifeScan, Inc.
- QTL Biodetection LLC
- Molecular Devices Corp.
- Nova Biomedical
- Molex LLC
- TDK Corporation
- Zimmer & Peacock AS
- Siemens Healthcare
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Microarray Analysis
- Global Biosensors Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Biosensors Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- Average primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Distribution Channel
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Product Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Microarray Analysis demand
- Post-Covid Impact on Biosensors Market Demand
- Impact Analysis of Russia-Ukraine Conflict
- Drivers
- Global Biosensors Market Segmentation, by volume (Units) & Revenue (USD Billion), (2022-2030)
- By Product
- Wearable Biosensors
- Non-wearable Biosensors
- By Type
- Sensor Patch
- Embedded Device
- By Technology
- Thermal
- Electrochemical
- Piezoelectric
- Optical
- By Application
- Medical
- Cholesterol
- Blood glucose
- Blood gas analyzer
- Pregnancy testing
- Drug discovery
- Infectious disease
- Food toxicity
- Bioreactor
- Agriculture
- Environment
- Others
- By End Use
- Home healthcare diagnostics
- POC testing
- Food industry
- Research laboratories
- Security and bio-defense
- By Product
- Global Biosensors Market Overview, By Region
- North America Biosensors Market volume (Units) & Revenue (USD Billion), by Countries, (2022-2030)
- US
- By Product
- By Type
- By Technology
- By Application
- By End Use
- Canada
- Mexico
- US
- Europe Biosensors Market volume (Units) &Revenue (USD Billion), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Biosensors Market volume (Units) & Revenue (USD Billion), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Biosensors Market volume (Units) & Revenue (USD Billion), by Countries, (2022-2030)
- Latin America Biosensors Market volume (Units) &Revenue (USD Billion), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- Middle East and Africa Biosensors Market volume (Units) & Revenue (USD Billion), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Biosensors Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Billion and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- Novartis AG.
- Business Overview
- Business Financials (USD billion)
- Product Category, Type, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- Bio-Rad Laboratories Inc.
- Medtronic
- Abbott Laboratories
- Biosensors International Group, Ltd.
- Pinnacle Technologies Inc.
- Ercon, Inc.
- DuPont Biosensor Materials
- Johnson & Johnson
- Koninklijke Philips N.V.
- LifeScan, Inc.
- QTL Biodetection LLC
- Molecular Devices Corp.
- Nova Biomedical
- Molex LLC
- TDK Corporation
- Zimmer & Peacock AS
- Siemens Healthcare
- Novartis AG.
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.