Biosensors Market Will Grow at a Steady Rate of 7.9% CAGR from 2012 to 2020: Grand View Research, Inc.
The
global biosensors market is anticipated to reach USD 21.2
billion by 2020, according to a new report by Grand View Research, Inc. Myriad
applications in the medical field, rising diabetic population base, high demand
for miniature diagnostic devices, and rapid technological advancements are the
key factors that are driving the market growth.
Growing
technological developments within all the segments of biosensors are expected
to be significant drivers for the growth of biosensors market over the forecast
period. For instance, novel advancement in the development of optical quantum
dots is expected to provide novel avenues for application in biopharmaceutical
development, proteomic analysis, and vaccine development. Similarly, growing
applications for thermal biosensors in biomolecular interaction and
hybridization analysis, environmental monitoring, and cosmetic analysis are
expected to provide the market with greater application opportunities resulting
in increased market demand. The development of nano particle based
electrochemical biosensors and nanotechnology-based usage contribute to
increased importance of this driver over the forecast period.
Moreover,
growing worldwide prevalence of diabetes (both type I and type II) is expected
to drive market expansion over the forecast period. According to the estimates
of the International Diabetes Federation, the global prevalence of diabetes is
expected to increase from 425 million in 2017 to 629 million in 2045.
Browse full
research report on Biosensors Market: www.grandviewresearch.com/industry-analysis/biosensors-market
Further
Key findings from the study suggest:
- Medical application segment dominated the
market share in 2013. It is considered an essential tool in the detection
and monitoring of a wide range of medical conditions from diabetes to
cancer.
- Electrochemical biosensors accounted for the
largest market share in 2013 because of widespread applications for
quantification and analysis in biochemical and biological processes.
- Biosensors in food industry are expected to
witness fastest growth over the forecast period owing to the rising
pressure from regulatory bodies pertaining to the hygiene standards of the
food items where biosensors play a vital role for detecting pathogens,
allergens, and pesticides in the food items.
- Asia Pacific biosensors market is expected to
grow with the highest CAGR over the forecast period owing to presence of
high unmet medical needs pertaining to target disease segments, growing
patient awareness levels, and constantly improving healthcare expenditure
in the region.
- Major players of the market include, AZUR
Environmental, Abbott Laboratories, Biosensor BV, Bayer AG, Cranfield
Biotechnology Centre, DuPont Biosensor Materials, Ercon, Inc., and Johnson
& Johnson.
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reports of this category by Grand View Research: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global biosensors market on the
basis of application, technology, end user and region:
Biosensors
Technology Type Outlook (Revenue, USD Million, 2014 - 2020)
- Thermal
- Electrochemical
- Piezoeletric
- Optical
Biosensors
Application Outlook (Revenue, USD Million, 2014 - 2020)
- Medical
- Cholesterol
- Blood
Glucose
- Blood
gas analyzer
- Preganancy
testing
- Drug
discovery
- Infectious
disease
- Food
Toxicity
- Bioreactor
- Agriculture
- Environment
- Others
Biosensors
End User Outlook (Revenue, USD Million, 2012 - 2020)
- Home
healthcare diagnostics
- PoC
testing
- Food
industry
- Research
Laboratories
- Security
and Bio-defense
Biosensors
Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North
America
- Europe
- Asia
Pacific
- RoW
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-biosensors-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
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