Biosensors Global Market Report 2024 by The Business Research Company | Johnson & Johnson, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers, Becton Dickinson and Company

The biosensors market size has grown rapidly in recent years. It will grow from $31.01 billion in 2023 to $24.63 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increased focus on preventive healthcare, rising prevalence of chronic diseases, growing demand for point-of-care diagnostics, and expanding applications in environmental monitoring and food safety.

The biosensors market size is expected to see rapid growth in the next few years. It will grow to $54 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to the proliferation of wearable health devices, the surge in demand for rapid diagnostic tests, advancements in data analytics and connectivity, the emergence of precision medicine initiatives, the increasing focus on environmental monitoring and food safety regulations, and the expansion of applications in personalized nutrition and wellness. Major trends in the forecast period include increased demand for wearable biosensors, expansion of point-of-care testing, integration of artificial intelligence and machine learning, growth in chronic disease management solutions, rising adoption of biosensors in agriculture, and environmental monitoring.

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Biosensors Market Major Segments
The biosensors market covered in this report is segmented -

1) By Product: Wearable Biosensors, Non-Wearable Biosensors
2) By Technology: Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Nano Mechanical Biosensors, Thermal Biosensors, Other Technologies
3) By Application: Medical, Food Toxicity, Bioreactor, Agriculture, Environment, Other Applications

Key Driver - Stationary Fuel Cell Market Growth Fueled By Rising Demand For Sustainable Energy Generation

The rising prevalence of chronic disorders is expected to propel the growth of the biosensors market going forward. Chronic disorders refer to long-term medical conditions that persist over an extended period, often requiring ongoing management and treatment to control symptoms and maintain quality of life. Chronic disorders are on the rise due to a combination of factors, including sedentary lifestyles, poor dietary habits, genetic predispositions, and environmental pollutants. Biosensors enable early detection and continuous monitoring of biomarkers, revolutionizing the management of chronic disorders. For instance, in June 2023, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, global diabetes cases are projected to increase from 529 million in 2021 to 1.3 billion by 2050. Therefore, the rising prevalence of chronic disorders is driving the growth of the biosensor market.

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Prominent Trend - Innovative Biosensor Technologies Revolutionizes Hydration Monitoring

Major companies operating in the biosensors market are focused on developing advanced non-invasive monitoring products, such as real-time sweat patches, to address the increasing need for convenient and accurate health monitoring solutions. A real-time sweat patch is a wearable biosensor that continuously monitors biomarkers in sweat, providing immediate health insights. For instance, in December 2022, Nix Biosensors, a US-based biosensors product company, launched Nix Hydration Biosensor, a breakthrough in consumer biosensor technology providing personalized hydration data for endurance athletes through sweat analysis. The product includes a comfortable, non-invasive sweat patch, which continuously monitors fluid and electrolyte levels, and a durable pod for data transmission to the Nix App. The app offers real-time hydration insights to aid in athletes' preparation for activities. Nix aims to revolutionize how athletes manage hydration during exercise with its innovative features and scientific validation.

Biosensors Market Players
Major companies operating in the biosensors market are Johnson & Johnson, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers, Becton Dickinson and Company, Agilent Technologies, Illumina Inc., Sartorius AG, BioMérieux SA, Cytiva, PerkinElmer Inc., Sysmex Corporation, Dexcom Inc., Bio-Rad Laboratories, Bruker Corporation, HORIBA Ltd., Lifescan Inc., Nova Biomedical, Bio-Techne Corporation, Sensirion AG, Proteus Digital Health, Acon Laboratories Inc., 908 Devices Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the biosensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biosensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Biosensors Market Report Structure
3. Biosensors Market Trends And Strategies
4. Biosensors Market - Macro Economic Scenario
5. Biosensors Market Size And Growth
…..
27. Biosensors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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