Biosensors Market Size Worth $49.29 Billion By 2032 | CAGR: 7.5%

Biosensors Market Size Worth $49.29 Billion By 2032 | CAGR: 7.5%

The global biosensors market size is expected to reach USD 49.29 billion by 2032, according to a new study by Polaris Market Research. The report “Biosensors Market Share, Size, Trends, Industry Analysis Report, By Technology (Thermal, Electrochemical, Piezoelectric, Optical); By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Technological biosensor advancements have resulted in strong growth in the global Market. This growth is further fueled by the increasing need for fast and preventative diagnosis of diabetes, as constant monitoring of blood glucose levels is crucial for managing diabetes mellitus. Additionally, the growing aging population and high prevalence of diabetes in developed countries worldwide are expected to drive the market's expansion in the coming years.

Biosensors comprise a physiochemical detector and a natural element that enable the identification of analytes. The primary components include a signal-generating element that identifies the analyte, a signal transducer, and a reader device. The components utilized in Biosensors are classified into three groups based on their mechanisms: enzymes comprise the biocatalytic group, antibodies, and nucleic acids comprise the affinity group, and microorganisms are the basis of the microbe-based group.

In Biosensors, the reader device is combined with associated electronics or signal processors, primarily responsible for displaying the results in a user-friendly manner. Biosensors have various applications, including food and beverage testing, environmental monitoring, home care diagnostics, and using numerous nanomechanical Biosensors.

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The market is experiencing significant growth with various trends, including increased demand for point-of-care testing due to the COVID-19 pandemic, the popularity of wearable biosensors for monitoring patients with chronic diseases and fitness metrics, advancements in nanotechnology allowing for the development of more sensitive and selective biosensors, increasing use of biosensors in food safety testing for detecting contaminants in food products, and growing demand for biosensors in environmental monitoring to detect pollutants in air and water for protecting human health and the environment.

Biosensors Market Report Highlights

  • Electrochemical segment accounted for largest shares of market in 2022, due to use of biological and biochemical procedures in analysis and measurements, and it has advantage in thermal, optical, and piezoelectric detection.
  • Medical segment held the highest market revenue share in 2022, and will continue its growth over the forecast period. Biosensors are used in various medical applications such as blood gas testing, blood glucose monitoring, cholesterol testing, pregnancy and others.
  • POC testing segment accounted for the largest market share in 2022, due to POC testing is fueled by technological advancements which facilitate to develop of innovative products.
  • North America dominated the market in 2022 and is likely to continue its dominance over the forecast period, due to increasing the demand for innovative medical devices, rising expenditure for healthcare, and the presence of key market players.
  • The global key market players include Abbott Laboratories, Bayer AG, AZUR Environmental, Biosensor BV, DuPont Biosensor Materials, Cranfield Biotechnology Centre, Pinnacle Technologies Inc., Johnson & Johnson, Ercon, Inc., EG & IC Sensors, Inc., Strategic Diagnostics, Innovative Biosensors Inc., Sysmex Corporation, LifeScan, Inc., QTL Biosystems, Molecular Devices Corp., and Roche Diagnostics.

Polaris Market Research has segmented the biosensors market report based on technology, application, end-use, and region:

Biosensors, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

  • Thermal
  • Electrochemical
  • Piezoelectric
  • Optical

Biosensors, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Medical
  • Cholesterol
  • Blood Glucose
  • Blood Gas Analyzer
  • Pregnancy Testing
  • Infectious Testing
  • Food Toxicity
  • Bioreactor
  • Agriculture
  • Environment
  • Others

Biosensors, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Home Healthcare Diagnostics
  • POC Testing
  • Food Industry
  • Research Laboratories
  • Security and Biodefense

    Biosensors, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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