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The Biosensor Market to Witness Encompassment of Parallel Integration Along With Vertical Integration

03-03-2022 07:42 AM CET | Health & Medicine

Press release from: Persistence Market Research

The Biosensor Market to Witness Encompassment of Parallel

The Biosensor Market is bound to grow robustly in the years to come. With smart technology and 5G being increasingly adopted, the healthcare vertical is witnessing a paradigm shift. These technologies can thus increase the convenience quotient (CQ), as abysmal disruption happens in the patients' lives. This convenience quotient would be the trend running in the healthcare vertical shortly.

According to a new market report published by Persistence Market Research "Global Market Study on Biosensor: Asia-Pacific to Witness Highest Growth by 2020," the global biosensor market was valued at USD 12,963.6 million in 2014 and is expected to grow at a CAGR of 9.7% from 2014 to 2020, to reach an estimated value of USD 22,551.2 million in 2020.

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Globally, the biosensors market is witnessing significant growth due to increasing demand of point of care testing. In addition, rising prevalence of chronic and lifestyle associated diseases, growing geriatric population, increasing application of biosensors in various industries and growing application of nanotechnology in healthcare are also driving the growth of the market.

Some of the major players in the biosensors market:

Abbott Laboratories, Inc.
Siemens Healthcare.
Nova Biomedical Corporation.
Bayer AG.
Johnson and Johnson.
Medtronic, Inc.
Hoffmann-La Roche, Ltd.
Other.

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In addition, emergence and demand of personalized medicine and non-invasive biosensors would also drive the growth for the market. However, strict regulatory requirements and reimbursement policy issues in healthcare system hamper growth of the global biosensors market. In addition, the regulatory process is not keeping pace with the rapid development of new medical technologies.The global biosensors market is anticipated to grow from an estimated USD 12,963.6 million in 2014 to USD 22,551.2 million in 2020 at a CAGR of 9.7% during the forecast period.

In North America, growing aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and appropriate insurance coverage are driving the use of biosensor devices in the market.

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In Europe, the biosensors device market is driven by rising diagnostic requirements due to increasing lifestyle associated diseases, aging population and improving healthcare infrastructure. On the other hand, increasing healthcare costs has shifted the focus of healthcare from hospitals to home, which would increase the use of biosensors devices in the region.

However, Asia is becoming one of the most attractive markets for medical device companies. The growth for biosensor devices in Asia is much higher than developed countries due to widening health insurance penetration, large population base and up-gradation of health care systems.

Complete Report Details@ https://www.persistencemarketresearch.com/market-research/biosensor-market.asp

The biosensors market is segmented as follows:

Biosensors market, by technology

Electrochemical biosensors
Optical biosensors
Piezoelectric biosensors
Thermistor biosensors

Biosensors market, by application

Medical diagnostics
Food toxicity detection
Industrial process control
Environmental
Agricultural testing

Biosensors market, by end user

Point-of-care testing
Home healthcare diagnostics
Research laboratories
Security and bio-defense

Biosensors market, by geography

North America
Europe
Asia
Rest of the World (RoW)

Related Reports:

Microfluidic Devices Market - https://www.persistencemarketresearch.com/market-research/microfluidic-devices-market.asp

Digital PCR Market -https://www.persistencemarketresearch.com/market-research/digital-pcr-market.asp

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Sales - sales@persistencemarketresearch.com
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