Press release
Bio-electronics & Biosensors Market Growth and Trends By Key Players 2024: Abbott Point of Care, F. Hoffmann-La Roche, Life Sensors, AgaMatrix, Nova Biomedical Corporation and Siemens Healthcare.
Global Market Insights
Global bio-electronics and biosensors market size was valued at USD 11.39 billion in 2013. It is likely to be estimated over USD 25 billion by 2023.and is likely to grow at a CAGR of over 10%. Proliferating prevalence of target diseases is expected to drive industry growth over several forthcoming years.
Escalating demand for diagnostic as well as monitoring devices such as blood glucose level, cardiac pacemakers and other implantable medical devices are likely to fuel bioelectronics market size. Rising pervasiveness of diabetes accompanied by increasing need to measure and monitor blood glucose level is likely to positively impact the biosensors market demand. Proliferating technological improvisation along with increasing innovation is expected to drive the industry growth. For example, HealthPatch MD biosensors by Vital connect has received FDA approval in 2014. This patch is applied over the skin and has a capability of capturing biometric measurements.
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Top Key Players: -
Key industry participants occupying major bio-electronics and biosensors market share include, Abbott Point of Care, F. Hoffmann-La Roche Ltd, LifeSensors, AgaMatrix, Nova Biomedical Corporation and Siemens Healthcare. The industry is technology driven and hence, manufacturers are anticipated to continuously engage in research & development focused on development of highly developed biosensors and bio-electronics over the forecast period.
Market share calculation in this report is not done based on companies covered in it. The calculation of Bio-electronics & Biosensors Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America is expected to gain the dominance due to large number of application in numerous healthcare sectors is expected to boost the demand in the region. Proliferating significance of numerous serious diseases owing to unhealthy lifestyle, presences of many R&D units and increasing adoptability of sophisticated products by scientists, patients and clinicians are forecast to drive the industry growth over coming years. Asia Pacific bio-electronics and biosensors market is likely to witness significant growth owing to improving healthcare infrastructure and rapid economic growth over the forecast period.
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Major application of these sensors is contributed in numerous industry sectors such as agriculture, toxicity detection, environmental, industrial process control as well as medical applications among several others. The preliminary thrust for swiftly advancing bio-electronics & biosensors technology was derived from healthcare segment. These sensors allow superior evaluation of the patient’s metabolic state. Flourishing implementation of these sensors in blood glucose monitoring devices is expected to stir the industry demand.
The Point-of-Care (POC) diagnostics market was valued at over USD 14 billion in 2015. The advent of bioelectronics market is likely to initiate a revolution in the swiftly evolving point of care testing industry. Points of care biosensor systems offer real time health monitoring and thus assist in improving patient’s health condition. Use of this equipment also aids in increasing patient’s satisfaction and also leads to lessening the patient waiting time.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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