Biosensor Market – Overview
As per the report on the biosensors market published by Market Research Future (MRFR), the market can anticipate to achieve 9.6% CAGR during the forecast period (2014-2020). The progress that the biosensors market is currently making can be attributed to the advanced biotechnologies that the research and development companies are introducing to increase biosensor’s market proliferation.
A biosensor can detect the presence of chemical substances by combining biological components with physiochemical detector. The result then gets reflected on an associated device. MRFR includes in the report detailed analysis of the segments and drives that can impact the market during the forecast period.
The report has in it updated profile of the major market players and their strategic decisions, based on which a holistic picture of the market can be achieved.
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Among the major features of the product, its cost-efficiency, simple utility, quick diagnosis, and user-friendly nature can be considered major traction provider. The healthcare sector is finding its presence assuring as its diagnosis capability saves golden time that is much-needed for crucial treatments.
Biosensor’s popularity is on the rise due to its ability to provide a precise diagnosis of diseases in a simple, quick, cost-efficient, and user-friendly manner. The market is also garnering accolades from chemical sector and nanotechnology.
In addition, growing demand for instruments that would help in having updates on health-status can provide traction to the biosensors market in the coming years. Other sectors such as food analysis, imaging operations, and monitoring of microbial activities can benefit from the technological advancements in biosensors.
On the flip side, biosensors have to abide by the government rules and regulations which can deter the market expansion. Going through regulatory channels for approval can be time consuming. But the biosensors market can reap the benefits of the growing trend of having personalized drugs.
Leading Key Players
Abbott Laboratories Inc.
Hoffmann-La Roche Ltd.
Johnson & Johnson
TiaDoc Technology Corporation
Nova Biomedical Corporation
Biosensor Market – Segmentation
MRFR report segments the biosensor market by technology, end-user, and application.
Technology-wise, the biosensor market can be segmented into optical biosensors, electrochemical biosensors, piezoelectric biosensors, thermal biosensors, and others. Electrochemical biosensors market has the lead at present.
On the basis of the end-user, the biosensor market can be segmented into home diagnostics, point of care, food industry, research laboratories, security and biodefense, and others. Security and biodefense segment has the maximum market share.
Application-wise, the biosensors market is segmented into medical testing, food toxicity, industrial process, environmental market, agricultural testing, and others.
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Detailed Regional Analysis
MRFR segments the biosensors market regionally into the Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The Americas has the charge of the global market. The region can benefit much from the technological advantages and robust industrial infrastructure in the coming years. Europe’s market growth can be attributed to the huge geriatric population and growing health awareness. The regional market can prosper well in the foreseeable future.
The APAC market is all set to achieve the highest CAGR during the forecast period. The regional market is banking more on the revamping of the healthcare sector and the investments made by both public and private bodies to develop the technology.
Siemens, recently, took over Mendix to improve their digital output in biotechnology which significantly create a well-grounded image for them in the sector.
Researchers from the Harbin Institute of Technology, China have simplified the functional aspect of the biosensor in cost-effective way. They have improved the microdisk resonator which is of great value in detecting temperature disturbance and presence of nanoparticles. Cancer researchers can benefit from this technology.
A report published in Biosensors and Bioelectronics by Elsevier, discussed in detail about a 3D technology that can monitor real-time oxygen level in organ-on-a-chip systems. This can impact substantially drug and toxicity testing.
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