The Global Biosensor Market has been valued at US $15 billion in the year 2016 which is expected to grow at US $22.4 billion by the CAGR of ~9%.
Biosensor is a device which is used to detect presence of chemicals inside a living organism. The device consists of transducer and a biological element which could be an enzyme, an antibody or a nucleic acid. These devices convert biological response into an electrical response to recognize the function and structure of various molecules. Biosensor is an important device used to measure wide spectrum of analytics such as organic compounds, gases, ions and bacteria.
The Global Biosensor Market has been valued at US $15 billion in the year 2016 which is expected to grow at US $22.4 billion by the end of forecast period with CAGR of ~9%.
The major growth driver of Biosensor market includes due to increase in prevalence of diabetic population, rise in geriatric population, increasing demand of POCT, rising prevalence of chronic and lifestyle associated diseases, and increasing application of biosensors in various industries. However, strict regulatory requirements and reimbursement policy issues in healthcare system are inhibiting the growth of the global biosensors market.
The Key Players of biosensor market includes Siemens Healthineers (Germany), Life Sensors, Inc. (U.S.), Abbott Laboratories, Inc. (U.S.), Johnson & Johnson (U.S.), Medtronic, Inc. (Ireland), Nova Biomedical Corporation (U.S.), F. Hoffmann La Roche (Switzerland), TiaDoc Technology Corporation (Taiwan), Bayer AG (Germany), and I-SENS, Inc. (U.S.) among others.
Global Biosensor Market Analysis & Forecast, from 2016 to 2020
To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments included in global Biosensor market with analysis of its development and demand in the market.
Upcoming technologies, high growth geographies and countries were identified
Regional and country specific demand and forecast for Biosensor were studied
Key segments covered in the report are: technology, end-users, application and region.
Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
For all the regions: forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
Historical trend is identified to forecast and estimate the future value data
Research & consultant organization
Hardware Component Providers
The global Biosensor market and is expected to reach USD 22 billion by 2020.
By Technology, Electrochemical biosensors accounts for largest market share and has been valued at USD 9.9 Billion in the year 2016.
Security and biodefense is the most popular end user in the biosensors market.
By Application, Medical testing holds largest market valued at USD 16 billion by 2020.
Geographically, North America has the largest share in global biosensors market, while Asia-Pacific has emerged as the fastest growing region.
Regional and Country Analysis of Biosensor Market Estimation and Forecast
North America is dominating the market of Biosensor market followed by Europe and Asia-Pacific region due to increasing demand of biosensors from the industries. Also, due to high expenditure of North America on healthcare sector, biosensor devices are used for accurate, quick, and reliable results for curing of the diseases. Asia-pacific is the emerging market in biosensor due to increasing awareness of clinical outcomes, rising genetic population, and growing technological advancement in medical sector.
The reports also cover country level analysis:
o Rest of North America
o Rest of the Europe
Asia – Pacific
Rest of the World
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Source: EIN Presswire