The most recent analytical report from Future Market Insights emphasises that the Global Biosensors Industry is about to take an extraordinary turn. The worldwide market, which was estimated to be worth US$ 24.5 billion in 2022, is expected to grow at an impressive 9.5% Compound Annual Growth Rate (CAGR) between 2023 and 2033. This predicted spike is predicted to outpace past growth rates, presenting profitable prospects for biosensors sector participants.
It is anticipated that medical biosensors, which are expected to be the greatest revenue-generating category, would play a crucial part in driving this rise. Prognosed to grow at a CAGR of more than 10.5% between 2023 and 2033, these biosensors are poised to completely transform the healthcare industry. This significant expansion is being driven in large part by the incorporation of cutting-edge technologies.
The biosensor market is being driven by an increase in chronic illnesses such as diabetes, an increase in biotechnology research and development, and an increase in demand for homecare equipment. The increased use of biosensors in glucose monitoring systems has resulted in market expansion. However, market growth is expected to be hampered by the high costs associated with these devices, as well as a lack of willingness to embrace new treatment devices. Improvements in biosensor technology, on the other hand, that add portability, are expected to drive market growth.
Request a Sample of this Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-16430
Because of their ability to assess fitness as well as the onset and progression of illness, biosensors are widely used in home-based healthcare by patients. As a result, the market is expected to expand throughout the forecast period. A variety of non-medical activities, as well as technological advancement, are expected to broaden its applicability and, as a result, support its growth. Pregnancy testing, cholesterol testing, blood glucose testing, and drug detection are some of the healthcare services that are expected to have a positive market impact.
Government projects aimed at improving proteomics and genomics are expected to drive the biosensors market during the forecast period.
Global Biosensors Industry Competitive Analysis
Because of the increased demand for biosensors, global manufacturers are accelerating and improving their manufacturing processes by implementing cost-effective solutions. A few of the key players in the biosensors 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, and Siemens Healthcare.
Some of the recent developments of key Biosensors providers are as follows:
- In January 2022, Roche and Sysmex agreed to a Global Business Partnership (GBP) to provide haematological diagnostic services. The new collaboration will use IT technology to improve clinical decision-making and the consumer experience. This long-running, fruitful collaboration is still going strong, providing haematological diagnostic improvements to labs worldwide.
- In December 2020, Abbott announced that FreeStyle Libre 2, its next-generation sensor-based glucose monitoring device, has been approved by Health Canada for adults and children (4 years and older) with diabetes.
Methodology Details Just a Click Away!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-16430
Market Segments Covered in Global Biosensors Industry Analysis
By Product Type:
- Medical
- Cholesterol
- Blood Glucose
- Blood Gas Analyzer
- Pregnancy Testing
- Drug Discovery
- Infectious Disease
- Food Toxicity
- Bioreactor
- Agriculture
- Environment
- Others
By Technology:
- Thermal
- Electrochemical
- Piezoelectric
- Optical
By End-Use:
- Home Healthcare Diagnostics
- PoC Testing
- Food Industry
- Research Laboratories
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
