Global Biosensors Market Size To Reach USD 15.85 Billion by 2024

Medical Testing Application Is Expected To Acquire Nearly 70% Of Revenue Share Of Global Biosensors Market By 2024

Global biosensors market was valued at USD 15.85 billion in 2016 and is estimated to reach USD 28.67 billion by 2024, with a CAGR of 7.68% during the forecast period i.e. 2016-2024.Asia Pacific biosensors market is expected to grow at a CAGR of 10.8% over the forecast period i.e. 2016 to 2024.

Governments are taking initiatives for the development of micro fluidics, human genome project and bioscience. Innovative approach towards genetic analysis and protein detection is leading the expansion of biosensor applications in medical industry which is expected to impel the growth of global biosensor market. For instance, a non-profit association, Max-Planck Institute collaborated together with Federal Government of Germany to implement improvisation and expansion of existing healthcare infrastructure. Over 75% of healthcare spending of US is invested in the treatment of chronic health issues. Around 35% of U.S. population is suffering from heart disease. This is impelling the need of advance medical facilities to reduce health issues.

According to Goldstein Research, global biosensors market is segmented on the basis of product type, technology, application and by end-user. Technology segment is further categorized into electrochemical, piezoelectric biosensors, optical biosensors, thermal biosensors and others (nano-mechanical, etc).Electrochemical biosensor technology is the dominating segment based on technology and is expected to surpass USD 20 billion by the end of 2024. Electrochemical biosensors contributed over 70% market share in technology segment 2016. Also, optical biosensors technology segment is estimated to grow at a CAGR of over 8.35% during the forecast period.

Global Biosensors Market 2016-2024 covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry biosensors manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.

Global Biosensors Market Segmentation can be classified on the basis of:


Based on Product Type

  • Wearable Biosensors
  • Non-wearable Biosensors


Based on Technology

  • Electrochemical
  • Piezoelectric Biosensors
  • Optical Biosensors
  • Thermal Biosensors
  • Others (Nano-mechanical, etc)


Based on Application

  • Medical Testing
  • Food & Beverage Toxicity Testing
  • Environment Monitoring
  • Bioreactor Testing
  • Agriculture Testing


Based on End-User

  • Healthcare Sector
  • Defense Sector
  • Food & Beverages Industry
  • Agriculture Sector


By Geography

  • North America (US, Canada)Biosensors Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Biosensors Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) Biosensors Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America)Biosensors Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Biosensors Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}


Download Exclusive Sample @

Market Trends, Drivers & Challenges

Emerging trend of using user-friendly compact biosensors is raising the adoption rate of wearable biosensors. Rise in chronic health issues and cardiovascular diseases are raising awareness among consumers to incline towards sensitive testing biosensors. Technological advancement in micro-fluids and expansion point of care testing device is also contributing to the expansion of global biosensors market. However, miniaturization, sensitivity and variation of readout times in sensors are some major technical obstacles which are hindering the growth of biosensors market. Short life span of bio-molecules used in sensors and expensive manufacturing is limiting the investment from manufacturers.

Biosensors Industry Analysis report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global biosensor market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

About Us

Based in U.S., Goldstein Research is a young business consulting and market research company with vast reach across America, Asia and parts of Europe and the Middle East.  In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. With 30+ domain experts and 50+ employees working day and night to crunch numbers and bring out the best and detailed market reports and forecasts, we strive to enable you to foresee upcoming market challenges and develop a robust business model and strategies, which would add to your profitability and market visibility as a brand.

Media Contact
Company Name: Goldstein Research
Contact Person: Steve Blade
Email: Send Email
Phone: +1-6465687747
Address:99 Wall Street, Suite No:- 527
City: New York
State: NY
Country: United States