A recent report published by Infinium Global Research on biosensors market provides in-depth analysis of segments and sub-segments in the global as well as regional biosensors market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biosensors market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global biosensors market. According to the report, the global biosensors market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
Biosensor is an analytical device that converts a biological response into an electrical signal. It usually consists of three elements such as biotransducer, biorecognition, and an electronic system that include a signal amplifier, processor and display. Additionally, there are different types of biosensor have been constructed and developed for several application includes piezoelectric sensors, electrochemical sensors, optical sensors, and many others.
Biosensors play a major role in the food analysis, drug development, crime detection, agricultural, medical diagnosis, environmental field monitoring, industrial process control and manufacturing of pharmaceuticals and replacement of organs. Furthermore, the increasing use of biosensor from end-user industries across the globe drives the growth of the market. Moreover, the growth of the market is further attributed owing to the continuous technological advancements in biosensors ecosystem and widening the application of wearable biosensors in the medical field. Furthermore, increasing demand for cost-effective, easy-to-use, sensitive and highly accurate detection devices is escalating the growth of the market. However, the high cost required for research and development is expected to hamper the growth of the biosensors market. Furthermore, investments from major IT vendors such as Infosys, IBM, and TCS is likely to have a positive impact on the biosensors market.
Among the regions, North America is expected to hold maximum market share and will maintain its leading position throughout the forecast period. The U.S. is a major contributor in the North American biosensors industry. The increasing incidences of chronic disorders such as diabetes, cancer, and many others, and high investment in the research and development activities are some factors responsible for the growth of North America biosensors market. On the other hand, Europe is accounted to hold the largest share in this market owing to the high adoption rate of advanced technology. Asia-Pacific is expected to be the fastest-growing region over the forecast period. The growth of this region is attributed owing to the rising demand for point-of-care and improving healthcare expenditure in the region.
The report on global biosensors market covers segments such as type, product, technology, and application. On the basis of type, the sub-markets include sensor patch, and embedded device. On the basis of product, the sub-markets include wearable, and nonwearable. On the basis of technology, the sub-markets include electrochemical, optical, and other technologies. On the basis of application, the sub-markets include POC, home diagnostics, food & beverages, environmental monitoring, and other applications.
The report provides profiles of the companies in the market such as Biosensors International Group, Biacore, Sysmex Corporation, DuPont de Nemours, Inc. Bio-Rad Laboratories, Bayer Healthcare, LifeScan, Inc., Siemens AG, Universal Biosensors, Medtronic plc, and F. Hoffmann-La Roche AG.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of biosensors market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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