NEW YORK, April 6, 2020 /PRNewswire/ --
Biosensors Market Size, Share & Trends Analysis Report By
Application (Medical, Agriculture, Bioreactor) By Technology
(Thermal, Electrochemical, Optical), By End Use, By Region, And
Segment Forecasts, 2020 - 2027
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https://www.reportlinker.com/p05879567/?utm_source=PRN
The global biosensors market size is anticipated to reach
USD 36.0 billion by 2027, expanding
at a CAGR 9%. Various applications in the medical field, high
demand for miniature diagnostic devices, and rapid technological
advancements are the key driving factors for the market.
Early and precise disease diagnosis is essential for successful
prognosis of diseases and survival of patients. In recent years,
the demand for simple, disposable, user-friendly, and
cost-efficient devices with fast response time has increased
extensively leading to increase in the sales of these products,
thereby driving the biosensor market.
Increase in technological development is expected to be a
significant factor for the growth of the market over the forecast
period.For instance, in October 2015,
Abbott Laboratories launched FreeStyle Libre Glucose Monitoring
System in Europe.
It is intended to be a replacement for blood glucose
meters.Moreover, rising applications of thermal biosensors in
biomolecular interaction and hybridization analysis, environmental
monitoring, and cosmetic analysis are expected to boost market
growth.
In addition, the development of nano particle based electrochemical
biosensors is expected to create opportunities for the key players,
thereby driving the market.
Further key findings from the study suggest:
• On the basis of application, the medical segment dominated the
biosensors market in 2019. The device is considered an essential
tool in the detection and monitoring of a wide range of medical
conditions, such as diabetes and cancer
• Electrochemical biosensors accounted for the largest market share
in 2019 and is anticipated to witness a significant growth over the
forecast period owing to the widespread applications for
quantification and analysis in biochemical and biological
processes
• On the basis of end use, biosensors in food industry are expected
to witness fastest growth over the forecast period owing to the
rising pressure from regulatory bodies pertaining to the hygiene
standards of the food items where this device plays a vital role
for detecting pathogens, allergens, and pesticides in the food
items
• In Asia Pacific, the market is expected to witness the fastest
growth over the forecast period, closely followed by Latin America owing to increase in awareness
regarding biosensors, and constantly improving healthcare
facilities in the region
• Key players in the industry includes AZUR Environmental; Abbott
Laboratories; Biosensor BV; Bayer AG; Cranfield Biotechnology
Centre; DuPont Biosensor Materials; Ercon, Inc., and Johnson and
Johnson.
Read the full report:
https://www.reportlinker.com/p05879567/?utm_source=PRN
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