Biosensors Market Size, share and growth analysis , forecast 2017-2023

Biosensors are integrated medical devices that provide analytical information by using the given biological samples in micro-volumes. The biosensors comprise of three major components, which include the biological recognition unit, bio elements, and transducers. The biological recognition unit interacts with the given biological samples, bio-elements, which constitutes enzymes, living tissues, antibodies, and transducers transform the signals generated from the interaction of bio-elements with biological recognition unit into an electrical signal. Biosensors are innovative/advanced-technology devices used in ultra-microanalysis, which offer high-quality output, accuracy, precision, specificity and sensitivity, within affordable prices. Thus, biosensors are considered as essential devices with the ability of quick detection and are ideal in offering low-cost, easy, quick, and portable solutions. Increasing prevalence of chronic and lifestyle-induced diseases, rising demand for POCT (point-of-care testing), growing geriatric population, and the biosensors application in nanotechnology are key drivers for the growth of this market.

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The Asia Pacific biosensors market is segmented on the basis of application, technology, end user, and country level analysis. The application segment is further categorized into food toxicity detection, industrial process control, medicine and diagnostics, environment, agriculture, and others. Medicine and diagnostics dominate the market as blood glucose meters are the highest selling biosensors.

Moreover, non-invasive/minimal invasive biosensors and growth/emergence of personalized medicines would offer stellar opportunities for the key/new participants in this market. However, issues regarding the reimbursement policies of healthcare system, strict regulatory requirements, and high cost of R&D, are likely to hinder the biosensor market growth

On the basis of end users, the biosensors market is segmented into home healthcare diagnostics, point of care testing, research laboratories, food industries, and security and bio-defense. Geographically, the Asia Pacific biosensors market is segmented into China, Japan, India, Australia and others. The Asia-Pacific region is the most lucrative market owing to the increasing demand for biosensor devices, a broad reach of health insurance, a large population base, and constant advancements in the healthcare systems. Countries such as China, India, Australia and Japan are contributing towards the growth of this market due to the easy approachability of skilled labor, favorable government initiatives and a larger population base.

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Key points for stakeholders:

• In-depth coverage of the Asia Pacific biosensors market including drivers, restraints and opportunities dealt in this report would help professionals to better understand market behavior

• Detailed study of the strategies of key leaders, partnerships and acquisitions in the Asia Pacific biosensors market described in this report would be helpful for professionals in the corporate sector

• Porters Five Forces analysis examines the competitive structure of the Asia Pacific biosensors market and would assist market strategists in making decisions

• Pin-point analysis of geographic segments help to identify opportunities for growth within the Asia Pacific biosensors market

• Market attractiveness analysis for biosensors market provide strategic assistance to the decision makers

• An analysis performed on the market attractiveness is included for various technology segments, applications, end users, and geographic regions along with a detailed analysis of factors responsible for the rapid growth of market segments

• Ease of doing business analysis should help in making strategic business decisions

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