Biosensors Market
Growth Factors of Biosensors Market
The biosensors market size was valued at USD 25.15 billion in 2023, and the market is now projected to grow from USD 27.40 billion in 2024 to USD 55.78 billion by 2032, exhibiting a CAGR of 9.3% during the forecast period of 2024-2032.
The COVID-19 pandemic prompted market progress in 2020, encouraging a shift from laboratory-based diagnostics to point-of-care diagnostics through fitness situations and home care, quickening the implementation of these products among industry performers. The upsurge in at-home/self-testing during the post-pandemic period and the greater demand for biosensors capable products in home settings additionally amplified the market progression.
The demand for advanced analytical devices such as biosensors is growing through numerous fields, such as drug discovery, health checking, and medical diagnostics, among others. Therefore, recent variations in biological practices and instrumentation relating fluorescence tags and nanomaterial have amplified the sensitive limit of these products.
The occurrence of diabetes and related difficulties is increasing among the inhabitants across the world. Due to the high occurrence, the demand for initial disease diagnosis and checking is growing among the populace. Biosensors aid in precise diabetes diagnosis and monitoring for effective handling and management among diabetic patients due to their probable benefits, such as precise estimation of insulin understanding, cost-effectiveness, and user-friendliness. Furthermore, the growing implementation of electrochemical based constant glucose monitoring (CGM) devices among patients is further enhancing the biosensors market growth.
Comprehensive Analysis of Biosensors Market
The market can be segmented in various ways, depending on the focus of analysis such as by type, by stage, by application and by end user. Based on type, the market is segmented into electrochemical biosensors, optical sensors, piezoelectric sensors, and others. Based on application, the market is segmented into clinical diagnostics, health monitoring, and others. Based on end user, the market is segmented into medical device companies, contract development and manufacturing organizations (CDMOs), and others.
North America region is dominating the biosensors market share due to growing overview of new technologies by key performers to enable patient screening for prolonged disorders. Growing collaborations among manufacturing companies and increasing approvals of new products are additionally enhancing the market.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Abbott (U.S.), Medtronic (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Universal Biosensors (Australia), DuPont (U.S.), Biosensors International Group, Ltd. (Singapore), Bio-Rad Laboratories Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), LifeScan IP Holdings, LLC (U.S.), Molecular Devices, LLC. (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In August 2023, University of Missouri researchers developed an advanced method using nanopores to help scientist’s develop their discoveries in neuroscience, other medical applications using medical biosensors.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Growth Rate CAGR of 9.3% from 2024-2032
Segmentation By Type
- Electrochemical Biosensors
- Optical Sensors
- Piezoelectric Sensors
- Others
By Application
- Clinical Diagnostics
- Glucose Monitoring
- Infectious Disease Screening
- Pregnancy & Fertility Testing
- Others
- Health Monitoring
- Vital Signs Monitoring
- Activity Tracking
- Others
By End User
- Medical Device Companies
- Contract Development and Manufacturing Organizations (CDMOs)
- Others
By Region
- North America (By Type, By Application, By End User and By Country)
- U.S.
- Canada
- Europe (By Type, By Application, By End User and By Country/Sub-region)
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific (By Type, By Application, By End User and By Country/Sub-region)
- Japan
- China
- India
- Southeast Asia
- Australia
- Rest of Asia Pacific
- Latin America (By Type, By Application, By End User and By Country/Sub-region)
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa (By Type, By Application, By End User and By Country/Sub-region)
- GCC
- South Africa
- Rest of the Middle East & Africa
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of R&D Expenditure, Key Players, 2023
- 4.2. Overview: Technological Advancements in Biosensors
- 4.3. Key Industry Developments - Partnerships, Mergers & Acquisitions
- 4.4. New Product Launches
- 4.5. Impact of COVID-19 on the Market
- 5. Global Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Type
- 5.1.1. Electrochemical Biosensors
- 5.1.2. Optical Biosensors
- 5.1.3. Piezoelectric Biosensors
- 5.1.4. Others
- 5.2. Market Analysis, Insights and Forecast – By Application
- 5.2.1. Clinical Diagnostics
- 5.2.1.1. Glucose Monitoring
- 5.2.1.2. Infectious Disease Screening
- 5.2.1.3. Pregnancy & Fertility Testing
- 5.2.1.4. Others
- 5.2.2. Health Monitoring
- 5.2.2.1. Vital Signs Monitoring
- 5.2.2.2. Activity Tracking
- 5.2.3. Others
- 5.3. Market Analysis, Insights and Forecast – By End User
- 5.3.1. Medical Device Companies
- 5.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Type
- 6.1.1. Electrochemical Biosensors
- 6.1.2. Optical Biosensors
- 6.1.3. Piezoelectric Biosensors
- 6.1.4. Others
- 6.2. Market Analysis, Insights and Forecast – By Application
- 6.2.1. Clinical Diagnostics
- 6.2.1.1. Glucose Monitoring
- 6.2.1.2. Infectious Disease Screening
- 6.2.1.3. Pregnancy & Fertility Testing
- 6.2.1.4. Others
- 6.2.2. Health Monitoring
- 6.2.2.1. Vital Signs Monitoring
- 6.2.2.2. Activity Tracking
- 6.2.3. Others
- 6.3. Market Analysis, Insights and Forecast – By End User
- 6.3.1. Medical Device Companies
- 6.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 6.3.3. Others
- 6.4. Market Analysis – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
- 7. Europe Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Type
- 7.1.1. Electrochemical Biosensors
- 7.1.2. Optical Biosensors
- 7.1.3. Piezoelectric Biosensors
- 7.1.4. Others
- 7.2. Market Analysis, Insights and Forecast – By Application
- 7.2.1. Clinical Diagnostics
- 7.2.1.1. Glucose Monitoring
- 7.2.1.2. Infectious Disease Screening
- 7.2.1.3. Pregnancy & Fertility Testing
- 7.2.1.4. Others
- 7.2.2. Health Monitoring
- 7.2.2.1. Vital Signs Monitoring
- 7.2.2.2. Activity Tracking
- 7.2.3. Others
- 7.3. Market Analysis, Insights and Forecast – By End User
- 7.3.1. Medical Device Companies
- 7.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 7.3.3. Others
- 7.4. Market Analysis – By Country/Sub-region
- 7.4.1. U.K.
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Spain
- 7.4.5. Italy
- 7.4.6. Rest of Europe
- 8. Asia pacific Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Type
- 8.1.1. Electrochemical Biosensors
- 8.1.2. Optical Biosensors
- 8.1.3. Piezoelectric Biosensors
- 8.1.4. Others
- 8.2. Market Analysis, Insights and Forecast – By Application
- 8.2.1. Clinical Diagnostics
- 8.2.1.1. Glucose Monitoring
- 8.2.1.2. Infectious Disease Screening
- 8.2.1.3. Pregnancy & Fertility Testing
- 8.2.1.4. Others
- 8.2.2. Health Monitoring
- 8.2.2.1. Vital Signs Monitoring
- 8.2.2.2. Activity Tracking
- 8.2.3. Others
- 8.3. Market Analysis, Insights and Forecast – By End User
- 8.3.1. Medical Device Companies
- 8.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 8.3.3. Others
- 8.4. Market Analysis – By Country/Sub-region
- 8.4.1. Japan
- 8.4.2. Australia
- 8.4.3. China
- 8.4.4. India
- 8.4.5. Southeast Asia
- 8.4.6. Rest of Asia Pacific
- 9. Latin America Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Type
- 9.1.1. Electrochemical Biosensors
- 9.1.2. Optical Biosensors
- 9.1.3. Piezoelectric Biosensors
- 9.1.4. Others
- 9.2. Market Analysis, Insights and Forecast – By Application
- 9.2.1. Clinical Diagnostics
- 9.2.1.1. Glucose Monitoring
- 9.2.1.2. Infectious Disease Screening
- 9.2.1.3. Pregnancy & Fertility Testing
- 9.2.1.4. Others
- 9.2.2. Health Monitoring
- 9.2.2.1. Vital Signs Monitoring
- 9.2.2.2. Activity Tracking
- 9.2.3. Others
- 9.3. Market Analysis, Insights and Forecast – By End User
- 9.3.1. Medical Device Companies
- 9.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By Country/Sub-region
- 9.4.1. Brazil
- 9.4.2. Mexico
- 9.4.3. Rest of Latin America
- 10. Middle East & Africa Biosensors Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Type
- 10.1.1. Electrochemical Biosensors
- 10.1.2. Optical Biosensors
- 10.1.3. Piezoelectric Biosensors
- 10.1.4. Others
- 10.2. Market Analysis, Insights and Forecast – By Application
- 10.2.1. Clinical Diagnostics
- 10.2.1.1. Glucose Monitoring
- 10.2.1.2. Infectious Disease Screening
- 10.2.1.3. Pregnancy & Fertility Testing
- 10.2.1.4. Others
- 10.2.2. Health Monitoring
- 10.2.2.1. Vital Signs Monitoring
- 10.2.2.2. Activity Tracking
- 10.2.3. Others
- 10.3. Market Analysis, Insights and Forecast – By End User
- 10.3.1. Medical Device Companies
- 10.3.2. Contract Development and Manufacturing Organizations (CDMOs)
- 10.3.3. Others
- 10.4. Market Analysis, Insights and Forecast – By Country/Sub-region
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. Abbott
- 11.2.1.1. Overview
- 11.2.1.2. Products & Services
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. Financials (Based on Availability)
- 11.2.2. Medtronic
- 11.2.2.1. Overview
- 11.2.2.2. Products & Services
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. Financials (Based on Availability)
- 11.2.3. F. Hoffmann-La Roche Ltd.
- 11.2.3.1. Overview
- 11.2.3.2. Products & Services
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. Financials (Based on Availability)
- 11.2.4. Universal Biosensors
- 11.2.4.1. Overview
- 11.2.4.2. Products & Services
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. Financials (Based on Availability)
- 11.2.5. DuPont
- 11.2.5.1. Overview
- 11.2.5.2. Products & Services
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. Financials (Based on Availability)
- 11.2.6. Biosensors International Group, Ltd.
- 11.2.6.1. Overview
- 11.2.6.2. Products & Services
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. Financials (Based on Availability)
- 11.2.7. Bio-Rad Laboratories Inc.
- 11.2.7.1. Overview
- 11.2.7.2. Products & Services
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. Financials (Based on Availability)
- 11.2.8. Koninklijke Philips N.V.
- 11.2.8.1. Overview
- 11.2.8.2. Products & Services
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. Financials (Based on Availability)
- 11.2.9. LifeScan IP Holdings, LLC
- 11.2.9.1. Overview
- 11.2.9.2. Products & Services
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. Financials (Based on Availability)
- 11.2.10. Molecular Devices, LLC.
- 11.2.10.1. Overview
- 11.2.10.2. Products & Services
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Strategies
- 11.2.10.6. Financials (Based on Availability)
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