Global Biosensors Market Undergoing With a CAGR of 9.30% by 2026 Major Players Abbott, Johnson & Johnson Services, Medtronic, DuPont, Universal Biosensors, Sysmex Corporation, Nova Biomedical, ACON Laboratories, General Electric

Global Biosensors Market is valued at an estimated USD 19.3billion in 2018, and this value is projected to rise to USD 39.30billion by 2026, undergoing with a CAGR of 9.30% in the forecast period of 2019-2026. The factor responsible for this growth in the market value is due to rise in use of biosensors in the various developing regions.

Global Biosensors Market By Technology (Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Nanomechanical Biosensors, Thermal Biosensors, Others), Product (Wearable Biosensors, Non-Wearable Biosensors), Application (Point Of Care (POC), Home Diagnostics and Biodefence, Environmental Monitoring, Food & Beverage Industry, Research Labs), Geography (North America, Europe, Asia-Pacific, South America, Middle East And Africa) – Industry Trends and Forecast to 2026

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Market Definition: Global Biosensors Market

A biosensor is an analytical device which converts a biological response into an electrical signal. The device works by merging a biological component with a physiological detector. Biosensors consist of a biological element, an enzyme, a nucleic acid, or an antibody, and a transducer. The analyte to be verified transacts with the biological element being tested and then the biological reciprocation is transformed by the transducer into an electrical signal. Biosensors are cost efficient, deliver fast results, are simple to use, and are movable, leading to the quick adoption of Biosensors in numerous areas like medicine, agriculture and environment monitoring.

Market Drivers:

• Significant technological advancements in the field of biosensor serves as a major market river stimulating growth in the global biosensors market.

• The sensitivity and performance of biosensors is being improved by using nanomaterials for their construction. The use of these nanomaterials has allowed the introduction of many new signal transduction technologies in biosensors

• Increasing diabetic population and increasing prevalence of chronic and lifestyle diseases, have led to the increased demand for biosensors in monitoring and diagnosing such diseases.

• Increasing demand for point of care testing, that is essential for the rapid detection of analytics near to the patient, which facilitates better disease diagnosis, monitoring, and management.

• Rising demand for disposable, cost-efficient, and user-friendly devices. Biosensors have the ability to meet these categories, and it can be approached through a combination of medical science, nanotechnology, and chemistry.

Market Restraints:

• Stringent regulatory environment, safety concerns regarding biosensors used in research laboratories, point of care testing, home healthcare diagnosis and bio-defense.

• High costs for initial development of biosensors may hinder the growth of this industry.

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Segmentation: Global Biosensors Market

By Technology

• Electrochemical Biosensors
• Optical Biosensors
• Piezoelectric Biosensors
• Nanomechanical Biosensors
• Thermal Biosensors
• Others

By Product

• Wearable Biosensors
• Non-Wearable Biosensors By Origin

By Application

• Point Of Care (POC)
• Home Diagnostics And Biodefence
• Environmental Monitoring
• Food & Beverage Industry
• Research Labs

By Geography

• North America

• South America

• Europe

• Asia-Pacific

• Middle East and Africa

Key Developments in the Market:

• In April, 2019. Researchers have developed wearable biosensors that mimic skin’s properties. It is an open-mesh electromechanical biosensor which has been constructed to showcase the skin’s microarchitecture. It consists of a biological component and a physiochemical detector that tracks and analyses lactate and O2 on the skin. It is capable of finding critical biochemical events while being invisible to the biological system. They are expected to be incorporated into internal organs to assist in disease research.

• In February, 2019. A new graphene based biosensor has been invented by scientists which can Sniff out the presence and evidence of lung cancer from a person’s breath, which has developed and paved a way for less cost, early diagnosis mechanism. This would restructure the current existing e-nose devices. The further developments of such devices could be used for early stage detection of lung cancer.

Competitive Analysis: Global Biosensors Market

Global Biosensors market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of biosensors market for Global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Biosensors Market

Few of the major competitors currently working in the biosensors market are Abbott, Johnson & Johnson Services, Inc., Medtronic, DuPont, Bio-Rad Laboratories, Inc., Universal Biosensors, Sysmex Corporation, Nova Biomedical, ACON Laboratories, Inc., General Electric, DANAHER (Molecular devices, LLC), Drägerwerk AG & Co. KGaA, Ercon Inc., Xsensio, Analog Devices, Inc., Animas LLC, LifeSensors, Siemens, F. Hoffmann-La Roche Ltd, i-SENS, Inc., TaiDoc Technology Corporation are few among others.

Key Insights in the report:

• Competitive analysis of key competitors involved in the market

• Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026

• Market drivers and restraints analysis along with the analysis of the market structure

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