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Biosensors Market Comprehensive Analysis with Key Players: Kalila Medical, Bio-Rad Laboratories, Biosensors International Group, Ltd

01-11-2019 06:27 PM CET | Health & Medicine

Press release from: Global Market Insights

Biosensors Market

Biosensors Market

The Biosensors Market to exceed USD 29 billion by 2024 as per a new research report.

Extensive range of applications of biosensor devices in medical field is predicted to boost biosensor market. The rapid technological advancements coupled with the rising demand of point of care testing methods should fuel the market growth over the forecast timeframe.

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Increasing demand for blood glucose monitoring device attributed to the increasing prevalence of type II diabetes will be a high impact rendering factor. The rising prevalence of infectious and lifestyle disorders will propel the global biosensors market. Moreover, the favorable initiatives from government and private organizations are likely to drive the biosensors market growth.

However, unfavorable reimbursement scenario, threat of product alternates and soaring cost associated with the product development is predicted to impede the growth of global biosensor market over forecast period.

Thermal biosensor segment is predicted to witness significant growth owing to the wide range of application in clinical monitoring, enzyme activity measurements, hybrid sensing, environmental monitoring, multianalyte determination, process monitoring and non-aqueous measurements.

Medical applications accounted for largest market shares. Biosensors are extensively used in the monitoring of clinical conditions such as Parkinson’s disease and cancer and rising prevalence of such disease is expected to boost the segment growth. Other applications of biosensors in the field of drug discovery, pregnancy testing and cholesterol monitoring.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Kalila Medical
• Bio-Rad Laboratories
• Biosensors International Group, Ltd
• Innovative Biosensors, Inc.
• Molecular Devices
• Pinnacle Technology Group, Inc
• Roche Diagnostics Middle East
• SDIX LLC - An OriGene Company
• Thermo Fisher Scientific

Biosensors can be used to identify the presence of variety of substances like sugar, protein, hormones, and toxins in environment. The rising need for improved environmental surveillance methods will drive the environmental application segment growth over forecast timeframe.

The ease of use associated with the Point of Care testing coupled with lack of skilled staff is expected to propel the growth of Point of care testing segment. Constant research in the field of Point of Care testing leading to the more efficient and technologically advanced products is further expected to the drive the segment growth.

The U.S. accounted for largest market revenue share owing to the surging demand for Point-of-care diagnostics that has potential minimize rising healthcare cost. Increasing geriatric population prone to the infectious and other diseases requiring continuous health monitoring should further boost the market.

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High prevalence of chronic diseases such as type II diabetes in Germany will fuel the biosensors market growth. Increased R&D spending boosting technological advancements should further drive Germany biosensors market.

China, owing to developed infrastructure, is expected to witness significant growth for biosensors market. Large patient pool with chronic diseases requiring constant monitoring and point of care treatments should further boost the biosensors market growth in China.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

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