Pune, India, August, 2017 /MRFR Press Release/- Market research future has a cooked research report on global Biosensor market. The global market for Biosensor is growing continuously and expected to grow at a CAGR of 9.6% from 2014 to 2020
The global biosensor market has been evaluated as moderately growing market and it is expected that the market will continue to grow similarly in the near future. Biosensor is very useful device and it has multiple use in many fields such as healthcare, industrial process control, military application, environmental monitoring and veterinary monitoring. Biosensor is also useful for agricultural sector. It helps to detect and identify diseases in crops. It can be also useful for measuring the level of pesticides, herbicides, and heavy metals in soil and ground water. Biosensor is complex device which converts biological response into an electrical response, to recognize the function and structure of various molecules. The biosensors work on various technologies, including electrochemical biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors. The global biosensor market will continue to grow due to increasing diabetic population, rise in aging population, increasing demand of POCT, rising prevalence of chronic and lifestyle associated diseases. Biosensor is also useful in different industries such as food, medical, environment, drug discovery, and security has significantly boosted the market for biosensor all over the world. Increased in the overall spending on healthcare will lead to growth of biosensor market. Glucose biosensors are one of the largest segments of biosensors in medical testing due to increasing prevalence of diabetes and health concerns. The need for biosensors is increasing in the fields of medical diagnostics, environmental monitoring, and food testing for accurate detection of analytes. On the other hand, strict regulatory requirements and reimbursement policy issues in healthcare system are some of the factors that can hamper the growth of the Biosensor market.
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Global Biosensor Market Players:
There are plenty of large and small market players which operate in this market all over the globe. The major participants of this market are Abbott Laboratories Inc., F. Hoffmann-La Roche Ltd., Bayer Healthcare, Johnson & Johnson, Medtronic, Inc., and Siemens Healthcare, Nova Biomedical Corporation, LifeSensors Inc.,TiaDoc Technology Corporation, I-SENCE Inc.
Depending on geographic region, Biosensor market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America comprise largest market share in global biosensor market. Moreover the European market is also growing continuously and slowly catching up with the American market in the near future. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Biosensor segment during the forecasted period. Middle East & Africa region are likely to have a limited but steady growth in the market.
Biosensor market has been segmented on the basis of technology which comprises of electrochemical biosensors, optical biosensors, thermal biosensors, piezoelectric biosensors and others. On the basis of end user, the market is segmented into point of care, home diagnostics, research laboratories, food industry, security and biodefense, and others. On the basis of application, the market is segmented into medical testing, food toxicity, industrial process, environmental market, agricultural testing, others, and others.
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