Biosensors Market

Introduction of the Biosensors Market Report

A biosensor is an abbreviated form of a biological sensor. Biosensors are mainly used to transform biological responses into electrical signals. It is an analytical device that detects the presence of any chemical substance. Biosensors have applications in many industrial domains, but primarily in the food and beverage industry. Biosensors serve their use in many fermentation processes like the production of beer, yogurts, and aerated drinks. They are user-friendly, cost-effective, and provide instant results.

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Market Dynamic

Key Drivers and Emerging Trends

In the last few years, many end-user verticals have started adopting the use of biosensors in their manufacturing processes which shows the growth of the global biosensors market. The upcoming disruptive technologies and the rise in research and development proficiencies will also aid in providing a rise in the demand for biosensors. For instance, nanotechnology-based biosensors play an important role in sensing the mechanism of biosensing technology. Many nanomaterials have been discovered for electronic and mechanical properties for use in improvising biological signalling and transduction mechanism, which converts one energy form into another. A few such materials that are widely employed include nanotubes, nanowires, nanorods, nanoparticles, and thin films made up of crystalline matter.

Biosensors show high demand in the glucose monitoring systems of the healthcare industry, which is a strong factor in excelling the global biosensors market. The increase in the manufacturing of miniaturized diagnostic devices and the rise of diabetes among the population are also inducing the biosensors market globally. Moreover, the increase in the government initiatives for the development of genomics and proteomics are also attributed to excel the growth of the global biosensors market over the forecast period. For instance, National Information and Communication Technology Australia are expected to develop its research work on data mining, networks, and embedded systems to be used in this field. The government of China is also making huge investments on its computing networks initiated by the Chinese Academy of Sciences and the China National Grid supported by the Ministry of Science and Technology.

Restraint in the Biosensors Market

However, the high initial cost in the manufacturing of biosensors is restricting the growth of the biosensors market. Moreover, the stringent rules and policies related to the testing and maintenance of biosensors in the laboratories is another factor that is halting the development biosensors market.

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Type – Segment Analysis

Based on type, the embedded devices segment is projected to dominate the market during the forecast period. These devices offer usage in wide range of applications such as point of care, home diagnostics, food & beverages, research lab, environmental monitoring, and biodefense. With the rapid development of Internet of Things (IoT) devices, there has been a big transformation in the healthcare related appliances. IoT offers real-time alerting, tracking, and monitoring, which allows hands-on treatments, better accuracy, appropriate intervention by doctors, and improved treatment to the patients. Healthcare centres are planning to start adopting embedded solutions for medical equipment enabled with IoT to address the lack of availability of doctors in remote areas. These IoT-enabled medical equipment will aid to spot diseases in patients and conduct different tests to provide reliable treatment to patients in remote locations. Therefore, the rising adoption of embedded devices will drive the global biosensors market.

Product – Segment Analysis

Based on product, the wearable biosensors segment is projected to grow at a higher CAGR in the market during the forecast period due to the rise in the demand to change the conventional medical diagnostics and continuous health monitoring systems. Wearable biosensors offer the applications which is helpful in converting the hospital-based treatments to home-based personal medicine, resulting into low cost healthcare treatment and lower time for diagnosis. Nowadays, these wearable biosensors provide real-time health status of the patient, which allows better and faster clinical decisions resulting into more efficient healthcare system. Additionally, with the help of these real-time data, wearable biosensors can be helpful in early detection of health events and thus hospitalization can be avoided. Such events are expected to drive the wearable biosensors market growth.

Technology – Segment Analysis

Based on technology, the electrochemical biosensor segment is expected to grow at a higher CAGR during the forecast period. The glucose sensor is one of the popular electrochemical biosensors which is used across a point of care and home diagnostic applications. Electrochemical transduction offers various advantages, which includes robustness, compatibility with new microfabrication technologies, wide linear response range, disposability, low cost, ease of operation, independence from sample turbidity, and minimal power requirements. Due to these considerable advantages over thermal, piezoelectric and optical biosensors, electrochemical biosensors have higher consumption and market penetration.

Applications – Segment Analysis

Based on applications, the medical diagnostic devices segment is projected to dominate the market during the forecast period. The increasing biosensors market growth is due to the rising demand for the development of healthcare infrastructure and resources. The novel coronavirus outbreak in recent times has led to a rise in the demand for home diagnostics. Biosensors are used widely in the manufacturing of medical diagnostic devices, while the food & beverage industry finds its application for food toxicity detection.

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Region – Segment Analysis

Based on the region, the Asia-Pacific region is projected to dominate the biosensors market during the forecast period. The presence of huge population in the Asian countries and the rising number of diseases due to the change in lifestyle are the key factors for the growth of biosensors market size in the Asia-Pacific region. In terms of foreign investments, China has been constantly encouraging foreign participation. In 2019, China added new raw materials to produce vaccines and medical institutions in the 2019 National Encouraged List, which shows that China is encouraging foreign investments across the healthcare sector and offering opportunities to foreign investors to access preferential policies and tax rates. In 2020, after the outbreak of novel coronavirus, China focused on developing a sensor that can detect the virus in the air. The developed sensor can be used as a clinical diagnosis and to measure the concentration of the virus in the air. Cell-Based Biosensor is used to detect the pollutant occur in air and plays a role in environmental monitoring. Moreover, due to the high rise in the need for medical resources for target diseases like diabetes, cancer, highly infectious diseases such as novel coronavirus outbreak and the need to improve the medical infrastructure are some of the factors which are aiding in the growth of the biosensors market in Asia-Pacific region.

Top Market Players

Various notable players operating in the market include Abbott, Biosensors International Group, Pinnacle Technologies, DuPont, Ercon Inc., Innovative Sensor Technology IST AG, Johnson & Johnson Private Limited, LifeScan IP Holdings, SDIX, LLC, Sysmex Corporation, among others. 

Key Developments:

• • In September 2020, Abott laboratories launched Libre Sense glucose sports biosensors, an analytical device having CGM technology that will allow the athletes to better analyze the glucose level and the sports performance.

Segments covered in the Report:

The global Biosensors market has been segmented on the basis of Type, Product, Technology, Applications, Component and regions. Based on Type, the market is segmented into Sensor Patch and Embedded device. Based on Product, the market is segmented into Wearable Biosensors and Non-wearable Biosensors. Based on Technology, the market is segmented into Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Thermal Biosensors and Nanomechanical Biosensors. Based on Applications, the market is segmented into POC, Home Diagnostics, Research labs, Environmental monitoring, Food and Beverages. Based on Component, the market is segmented into Bioreceptor molecules, Biological element and Transducer. 

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Key questions answered in this research report:

• • At what pace is global Biosensors market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Biosensors market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Biosensors market?
  • Which Technology generated maximum revenues in 2019 and identify the most promising Technology during the forecast period?
  • What are the various Applications areas of global Biosensors market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Product, By Technology, By Applications, By Component and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Abbott, Biosensors International Group, Pinnacle Technologies, DuPont, Ercon Inc., Innovative Sensor Technology IST AG, Johnson & Johnson Private Limited, LifeScan IP Holdings, SDIX, LLC, Sysmex Corporation, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Biosensors Market by Type

• • Sensor Patch
  • Embedded device

Global Biosensors Market by Product

• • Wearable Biosensors
  • Non-wearable Biosensors

Global Biosensors Market by Technology

• • Electrochemical Biosensors
  • Optical Biosensors
  • Piezometric Biosensors
  • Thermal Biosensors
  • Nanomechanical Biosensors

Global Biosensors Market by Applications

• • POC
  • Home Diagnostics
  • Research labs
  • Environmental monitoring
  • Food and Beverages
  • Biodefense

Global Biosensors Market by Component

• • Component
  • Bioreceptor molecules
  • Biological Element
  • Transducer

Global Biosensors Market by Region

• • North America Biosensors Market (Option 1: As a part of the free 25% customization)
    • North America Biosensors Market by Type
    • North America Biosensors Market by Product
    • North America Biosensors Market by Technology
    • North America Biosensors Market by Applications
    • North America Biosensors Market by Component
    • US Biosensors Market All-Up
    • Canada Biosensors Market All-Up
  • Europe Biosensors Market (Option 2: As a part of the free 25% customization)
    • Europe Biosensors Market by Type
    • Europe Biosensors Market by Product
    • Europe Biosensors Market by Technology
    • Europe Biosensors Market by Applications
    • Europe Biosensors Market by Component
    • UK Biosensors Market All-Up
    • Germany Biosensors Market All-Up
    • France Biosensors Market All-Up
    • Spain Biosensors Market All-Up
    • Rest of Europe Biosensors Market All-Up
  • Asia-Pacific Biosensors Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Biosensors Market by Type
    • Asia-Pacific Biosensors Market by Product
    • Asia-Pacific Biosensors Market by Technology
    • Asia-Pacific Biosensors Market by Applications
    • Asia-Pacific Biosensors Market by Component
    • China Biosensors Market All-Up
    • India Biosensors Market All-Up
    • Japan Biosensors Market All-Up
    • Rest of APAC Biosensors Market All-Up
  • RoW Biosensors Market (Option 4: As a part of the free 25% customization)
    • RoW Biosensors Market by Type
    • RoW Biosensors Market by Product
    • RoW Biosensors Market by Technology
    • RoW Biosensors Market by Applications
    • RoW Biosensors Market by Component
    • Brazil Biosensors Market All-Up
    • South Africa Biosensors Market All-Up
    • Saudi Arabia Biosensors Market All-Up
    • UAE Biosensors Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Biosensors Market All-Up

Major Players Operating in the Biosensors (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott
  • Biosensors International Group
  • Pinnacle Technologies
  • DuPont
  • Ercon Inc.
  • Innovative Sensor Technology IST AG
  • Johnson & Johnson Private Limited
  • LifeScan IP Holdings
  • SDIX, LLC
  • Sysmex Corporation