Biosensors Development and Demand Market Valuation Projected to Reach USD 360 Million Upcoming Years :

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Biosensors Development and Demand Market.

Market Overview

The global biosensors development and demand market is expected to grow at an impressive pace over the forecast period as stated by Market Research Future (MRFR) in its in-depth report. The report states that the global market valuation is expected to reach USD 360 Million by 2023. Furthermore, the growth of the market is projected to be at an annual rate of 12%.

The growth of the market is identified to be influenced positively due to the increasing prevalence of diabetics across the globe, growing applications of biosensors in different sectors, and increasing rate of chronic and lifestyle based diseases.

Market Segmentation

The biosensors development and demand market segmentation is based upon the following dynamics: type, design methods, and application.

By applications, the market divides into glucose monitoring, medical diagnosis, food analysis, environmental monitoring, biodefense, reflectance imaging sensor (IRIS), interferometric, and others. It is reported that the application of biosensors development mostly lay focus on food analysis and medical diagnosis. The medical diagnosis, food analysis, and glucose monitoring segments hold the maximum share and are currently trending in the global market. This is primarily due to the heightened awareness among consumers towards agricultural-based products and food quality. Additionally, the rising prevalence in diseases like diabetes and cancer has made it mandatory for people to monitor their blood and glucose levels at timely intervals. This is done so as to detect and prevent any chronic disease from spreading at its initial stages.

By type, the market segments into cell network sensors, Nucleic acid sensors, optical bio sensors, Trans-membrane sensors, piezoelectric biosensors, cell network sensors, electrochemical biosensors, and others. Due to the rising technological advancements in optics, the market is being led by transmembrane sensors and optical biosensors. However, it is worth noting that piezoelectric biosensors is also expected to grow at a massive pace over the forecast period.

By design methods, the market divides into Self-Assembled Monolayers, Adsorption, Covalent attachment, Entrapment within polymers, and Cross-linking. These design methods help ensure the optimal level of efficiency is attained by complying with the natural receptors present.

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Competitive Landscape

The global biosensors development and demand market comprises leading and emerging players like Abbott Laboratories, Inc (U.S.), Siemens Healthcare (Germany), Koninklijke Philips N.V (Netherland), LifeSensors, Inc (U.S.), Johnson & Johnson (U.S.), TiaDoc Technology Corporation (Taiwan), Medtronic Public Limited Company (U.S.), Nova Biomedical Corporation (U.S.), Nokia Corporation (Finland), Bayer AG (Germany) F. Hoffmann-La Roche AG (Switzerland) and others.

Regional Analysis             

The biosensors development and Demand market is geographically segmented across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).

Among these regions, North America stands out with the highest share percentage in the global market landscape. The region is further expected to continue its dominance in the forthcoming years and stand atop the global market of biosensors development and demand. The growth of the market is due to the rising prevalence of diabetes and cancer, which requires early stage of detection and diagnosis.

Following the North American region, Europe stands tall as the second largest biosensors development and demand market. This is primarily due to the vast aging population and their increasing risk of acquiring diseases like diabetes and cancer.

The Asia Pacific region, on the other hand, is projected to grow at the fastest rate among all the mentioned regions over the forecast period. This is due to the increasing applications of agriculture in major economies like India and other South East Asian countries. Add to this, the risk associated with acquiring transmitted diseases through low food quality is another driver of the regional market herein.

Industry Updates

  • March 7th, 2019, researchers from the University of Minnesota College of Science and Engineering have made a major new device by using graphene. The device is the first step taken towards ultrasensitive biosensors in order to detect diseases at the molecular level.