Biosensors Market Size By Type (Wearable, Non-wearable), By Technology (Electrochemical, Optical, Thermal, Piezoelectric), By Medical Application (Blood Glucose Testing, Cholesterol Testing, Blood Gas Analysis, Pregnancy Testing, Drug Discovery, Infectious Disease Testing), By End-use (Point of Care Testing, Home Healthcare Diagnostics, Research Laboratories) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Switzerland, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025
Published Date: May 2019 | Report ID: GMI747 | Authors: Sumant Ugalmugale, Rupali Swain
Biosensors Market size was valued over USD 18.6 billion in 2018 and is expected to witness growth of around 8.0% CAGR from 2019 to 2025.
Get more details on this report - Request Free Sample PDF
Increasing prevalence of diabetes will positively stimulate biosensors industry growth in the forthcoming years. As per WHO, the number of diabetic patients in 2014 were around 422 million across the world. Rising awareness about self-management of diabetes facilitates amalgamation of advanced technology in the glucometers, thereby driving market growth. For instance, novel glucometers contain embedded microchips that enable accurate and faster detection of blood glucose levels, even at home. Hence, growing preference for such technology and availability of variant diabetic biosensors in the market will boost global biosensors industry growth.
Technological advancements in biosensors technology will escalate adoption rate of biosensors in the foreseeable future. The new biosensor technology delivers innovative, user-friendly and flexible products. This technology is being combined with internet-of-things, smartphones, cloud computing among few other technologies. The development and focus on lab-on-a-chip model in biosensors is gaining pace for point-of-care diagnostics will positively influence biosensors market growth in the forthcoming years.
Growing awareness regarding maintenance of balanced and healthy lifestyle is accelerating demand for wearable biosensors, capable of monitoring various health parameters such as pulse rate, blood pressure, heartbeats and others. In addition, wearable biosensors assist in measuring physiological and kinetic parameters in cases of multiple sclerosis, wherein patients suffer from walking impairment. Thus, increasing adoption of wearable biosensors along with growing chronic ailments will propel the industry growth. However, cost-intensive nature of development of biosensors may hinder biosensors industry growth.
|Historical Data for:||2014 to 2018||Forecast Period:||2019 to 2025|
|Pages:||203||Tables, Charts & Figures:||240|
|Geographies covered (16):||U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Switzerland, China, India, Japan, Brazil, Mexico, South Africa, Saudi Arabia|
|Segments covered:||Type, Technology, Medical Application, End-use and Region|
|Companies covered (15):||Abbott Laboratories, Bio-Rad International, Biosensors International, DowDuPont Inc., Ercon, Inc., Gwent Group, Johnson & Johnson, Molecular Devices Corp., Pinnacle Technology, QTL Biosystems, Roche Diagnostics, SDIX, LLC, Siemens Healthineers, TE Connectivity Corporation, Thermo-Fisher Scientific|
Biosensors Market, By Type
Wearable biosensors is forecast to witness robust growth of 9.3% CAGR over the forecast period. High market growth can be attributed to rising awareness regarding healthy lifestyle. Developed as well as developing countries show higher adoption rates for wearable biosensors due to lack of physical activity among adult population that is resulting into health impairments such as excess weight gain and hormonal disorders. Moreover, expanding baby boomer population base that is susceptible to various chronic diseases will prefer wearable biosensors due to advantages offered such as ease of use and convenience, thereby boosting wearable biosensors business growth in the future.
Non-wearable biosensors market held major market share of over 52% in 2018. Increasing prevalence of chronic diseases such as diabetes, cancer and other disorders will increase demand for conventional methods of diagnosis and detection. Such conventional methods include biosensors that are used in hospitals and laboratories for the detection of blood sugar levels or analysing gas levels in the blood. High accuracy and efficiency provided by non-wearable biosensors along with continuous product developments will highly impact the segmental growth over the coming years.
Biosensors Market, By Technology
Electrochemical biosensors technology market held USD 12.8 billion market size in 2018. Growing use of electrochemical biosensors in food analysis and disease diagnosis will drive the segment growth significantly during the forecast period. Escalating incidence of diabetes impacting the adoption of glucometers based on electrochemical biosensor technology will propel business growth. Moreover, rising prevalence of chronic diseases will accelerate the demand for electrochemical biosensors to aid accurate diagnosis, thereby fuelling segmental growth.
Optical biosensors segment is forecasted to progress at a momentous pace of 7.5% CAGR during the projected period. Increasing demand of optical biosensor can be attributed to growing advancements in optical biosensors. These biosensors are utilized in optical biosensing devices during surgical monitoring and critical care. Advantages provided by optical biosensors are specificity, real-time measurement, high speed, compact design and remote sensing enabling minimal invasive detection. Furthermore, continuous innovations in optical biosensing technology will augment the optical biosensors industry growth in the forthcoming period.
Biosensors Market, By Medical Application
Blood glucose testing biosensors dominated the biosensors industry in 2018 with 71.3% revenue share. Increasing prevalence of diabetes will be the primary factor boosting the demand of glucose biosensors. Integration of advanced technology within glucose measuring biosensors has influenced better decision-making in cases of serious surgeries. Additionally, better affordability and diagnostic accuracy will escalate customer preference for blood glucose testing biosensors, thereby impelling the segmental growth.
Cholesterol testing biosensors medical application segment is forecasted to grow at rapid 8.6% CAGR during the projected timeframe. Robust growth can be attributed to increasing obesity rates and related disorders that elevates cholesterol level in the blood. Additionally, increasing shift towards sedentary lifestyle coupled with faltered eating habits such as high consumption of sugar and carbohydrate-rich food will increase the demand for cholesterol testing. According to the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, about 29 million Americans suffered from cholesterol issues during 2015-16. Such escalating occurence of high cholesterol levels will expand cholesterol testing business growth during the forecast years.
China Biosensors Market Share, By Medical Application, 2018
Get more details on this report - Request Free Sample PDF
Biosensors Market, By End-use
Point of care testing market is estimated to grow at 7.9% CAGR over the forecast period. High growth can be attributed to the advancements and improvements integrated in the biosensor devices used in the hospitals. Good accuracy and efficiency exhibited by such devices have enabled improved surgical performance. Fast detection of analytes near the patient enables better diagnosis of disease, tracking and management. Furthermore, increasing incidence of infectious diseases will elevate adoption of point of care testing biosensor devices in the forthcoming years.
Home healthcare biosensors accounted for significant market share of more than 24% in 2018. Development of small, handheld devices with better affordability is leading to increase in demand for home healthcare biosensor devices. Home healthcare biosensors such as glucometers, cholesterol testing devices as well as other self-monitoring devices offers convenience and ease-of-use to the patients leading to growing preference for homecare devices, thereby stimulating segmental growth over the upcoming years.
Biosensors Market, By Region
U.S. market dominated the North American biosensors industry with USD 6 billion revenue size in 2018. Rising preference for wearable biosensors due to growing prevalence of chronic disorders such as diabetes, cancer and excess weight-associated disorders will offer remarkable biosensors industry growth. Rising investment in research and development activities to cater to varying and increasing customer demand should escalate the demand for biosensors in the country. In addition, growing geriatric population base will act as high impacting factor for U.S. biosensors industry growth over the upcoming years.
Germany accounted for over 20% of European biosensors revenue size in 2018 owing to high adoption rate of advanced technology across the nation. Innovations in development of biosensing devices such as electrochemical biosensor allowing detection of antioxidant levels will positively influence business growth. Various research institutes in Germany are collaborating to accelerate biosensor research and development thereby stimulating industry growth over the coming years.
Asia Pacific Biosensors Market, By Country, 2025 (USD Million)
Get more details on this report - Request Free Sample PDF
Competitive Market Share
Few of the key players operating in global market are DowDuPont, Roche Diagnostics, Johnson & Johnson, Abbott Laboratories, Siemens Healthcare and Thermo-Fisher Scientific among others. Major industry players are expanding their market presence by launch of new biosensor devices integrated with advanced technology. For instance, in February 2016, Johnson & Johnson launched Onetouch Verio flex blood glucose monitoring system with ColorSure technology, delivering accurate and faster results.
Biosensors Industry Background
Biosensors were discovered in 1906 when M. Cremer illustrated the co-relation between acid concentration and electric potential in a glass membrane. In 1909, the concept of pH was introduced by Soren Peder Lauritz Sorensen and later realized about use of an electrode for measuring the pH in 1922. The first biosensor was developed in 1956 by Leland C. Clark, Jr. Later, biosensor was followed by development of potentiator. The pioneer biosensor was commercialized by Yellow Spring Instruments in 1975. Further, many research and development activities led to progression of the market with introduction of several products in the healthcare sector using technologies such as nanotechnology, applicatory medicine and electronics.
Biosensors market is currently witnessing continuous innovations and delivering simple and high-end products by precise diagnosis and monitoring. Further advancements in biosensor technology, expansion in emerging markets along with the incessant need for advanced monitoring devices offers lucrative growth potential to biosensors industry over the foreseeable future.
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.