Global Biosensors Market Expected to Grow at a CAGR of about 6.4% between 2024 and 2032

The global biosensors market is driven by the several applications of biosensors in the medical area, fast technological advancements, growing diabetic population, and a huge demand for miniature diagnostic devices. North America is a significant regional market for biosensors as it holds a large global market share. This is attributed to the fast-growing segment of the industry, PoC diagnostics, which is increasing due to the addressable patient population.

Bayer AG and Biosensor International Ltd are some of the major key players within the biosensors industry. Agilent Technologies Inc (NYSE: A), another player in the industry, launched in August 2020, a multimode real-time cell analyser (RTCA), which combines live-cell imaging with the best of non-invasive biosensor measurement. The xCEL Ligence RTCA eSight is expected to revolutionize cell analysis in the life science study. Such advancements in biosensors are expected to accelerate the market growth for biosensors globally.

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Market Analysis by Technology, Application, and Region:

• The biosensors market can be classified, on the basis of technology, into thermal, electrochemical, piezoelectric, and optical, among others.

• By application, the biosensors market is divided into medical, food toxicity, bioreactor, agriculture, and environment, among others. The medical segment is further divided into cholesterol, infectious disease, drug discovery, pregnancy testing, blood gas analyser, and blood glucose.

• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

• The global biosensors market is driven by the implementation of government programmes, which aim at developing proteomics and genomics.

• IT players such as TCS and IBM are investing in the industry, further aiding the biosensors market growth.

• The growing agriculture sector is expected to influence the biosensors market positively as the biosensors are used to measure concentrations of pesticides, herbicides in the ground, and soil water.

• North America is the largest market for biosensors owing to the technological advancements occurring in the sector, such as the introduction of miniaturized diagnostic equipment and the enactment of several acts by the US government, including the National Environmental Policy Act and the Clean Air Act, to control environmental pollution.

• The rising patient awareness, enhancing healthcare expenditure, and increasing initiatives by the governments like China Grid, which was initiated by the Chinese Academy of Sciences and Ministry of Education, are expected to drive the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global biosensors market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) market trends for the technology, application, and regional markets of the global biosensors market.

• It assesses the market based on the SWOT and Porter’s Five Forces models.

Bayer AG, Biosensor International Ltd, Pinnacle Technologies Inc., and DuPont Biosensor Materials, among others, are the key players in the global biosensors market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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