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Biosensors Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-16 

Biosensors Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The undisputable growth pace of biosensors market is rather evident from the 2017 instance of Roche Diagnostics establishing full control over the Austria based mySugr GMBH. The prominent biosensors manufacturer through this acquisition is promoting the expansion of its product portfolio of the diabetes care solutions within all touch points.

A business space of high repute thriving on the ongoing technological innovations in the biosensor technology, the global biosensors industry, as of today, stands as one of the outpaced transforming industry spheres there is. Aided by rising applications in diagnosis of myriad diseases, the commercialization potential of biosensors market is only expected to surge over 2019-2025.

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The proliferation of novel biosensors, delivering high precision in the detection of blood glucose, pulse rate, and body temperature would augment the business outlook over the forecast period.

In addition to that, mounting prevalence of chronic ailments like the diabetes, across the geriatric populace and accelerated preference for point of care testing enabled by the biosensors would impel the industry dynamics in the near future. In fact, as per the statistics rolled out by IDF Diabetes Atlas, approximately 94.2 million population globally suffering from diabetes fall under the elderly group.

A paradigm shift towards the deployment of miniature, portable biosensor devices would upscale the revenue share of biosensors industry in the ensuing years. It has been claimed that the portable devices find extensive application amid the elderly people owing to its high feasibility, compact size, and multi-analytical capacity.

It has been apprehended that the biosensors industry is set to emerge as one of the most transforming business spaces of the 21st century. Global Market Insights, Inc., claims that worldwide biosensors market size would be envisaged as USD 31.5 billion by the end of seven years in terms of revenue.

Analyzing the various types of biosensors available in the market, wearable and non-wearable biosensors are rather predominant. High consumer cognizance pertaining to the adoption of healthy lifestyle amongst the adult population would prompt the wearable biosensors segment to witness a CAGR of 9.3 per cent over the mentioned time. The segmental growth is also determined by the concurrent pervasiveness of cardiovascular disorders and high blood sugar.

Non-wearable biosensors segment, on the other hand, would foresee a growth rate of 6.8 per cent through 2025 fundamentally driven by the product’s ability to aid the monitoring and measurement of vital parameters to reach an important medical decision.

Biosensors industry size from the electrochemical biosensors segment is projected to register a CAGR of 8.3 per cent over 2019-2025. The gradual surge in the segment is accounted to the ascending preference for technology which enables rapid disease diagnosis by yielding accurate results and reducing the errors. 

It is prudent to mention that the distinctively transforming biosensors market statistics have been introduced on the account of huge spectrum of applications in the realm of medicine, fundamentally comprising of blood glucose testing, pregnancy testing, drug discovery, and others. 

Among the aforementioned, the blood glucose testing segment came out as a dominant medical application segment in 2018 procuring over 71 per cent share in the biosensors market, fueled by the widespread prevalence of diabetes globally. According to the WHO health reports, the diabetic population across the globe reached to 8.5 per cent in 2014 as compared to 4.7 per cent in 1980. Powered by the epidemiology of diabetes, blood glucose testing segment would continue to exert dominance in the biosensors industry by 2025.

Standing at the forefront in terms of technological advancements, US successfully led the regional hierarchy of biosensors market in 2018, holding over 81 per cent of the entire North America region. Marked by elevating R&D activities and high rate adoption of novel technological products, US biosensor industry would garner commendable growth in the near future. Also, swift rise in the expecting population base would augment the industry stats for a duration of time.

Elaborating further, China biosensors market are also predicted to stand tall in the regional hierarchy chiefly owing to the burgeoning focus on the development of fully advanced biosensors by various firms across the region. Reliable sources depict that the region would witness a CAGR of 9.5 per cent through 2025. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/biosensors-market

Partial Chapter of the Table of Content 

Chapter 4. Biosensors Market, By Type

4.1. Key segment trends

4.2. Wearable biosensors

4.2.1.  Market size, by region, 2014-2025 (USD Million)

4.3. Non-wearable biosensors

4.3.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 5. Biosensors Market, By Technology

5.1. Key segment trends

5.2. Electrochemical

5.2.1.  Market size, by region, 2014-2025 (USD Million)

5.3. Optical

5.3.1.  Market size, by region, 2014-2025 (USD Million)

5.4. Thermal

5.4.1.  Market size, by region, 2014-2025 (USD Million)

5.5. Piezoelectric

5.5.1.  Market size, by region, 2014-2025 (USD Million)

5.6. Others

5.6.1.  Market size, by region, 2014-2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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