Press release
Biosensors Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Biosensors Market Size
In the last few years, the market size of biosensors has seen exponential growth. Predicted to rise from $34.63 billion in 2024, it is likely to reach $38.77 billion in 2025, with a compound annual growth rate (CAGR) of 12.0%. The historic period's increase can be linked to the escalating emphasis on preventive healthcare, growing incidence of chronic diseases, heightening demand for point-of-care diagnostics, along with the widening use in areas like environmental monitoring and food safety.
A significant expansion is anticipated for the biosensors market size over the upcoming years, with a projected growth to $60.24 billion in 2029. This represents a compound annual growth rate (CAGR) of 11.6%. This predicted growth during the forecast period is linked to a variety of elements, such as the proliferation of wearable health technology, a growing demand for instant diagnostic tests, advances in connectivity and data analytics, the advent of precision medicine initiatives, a heightened emphasis on monitoring of the environment and regulations surrounding food safety, and the broadening of applications related to personalized nutrition and wellness. Trends forecasted for this period include a raised demand for wearable biosensors, the expansion of point-of-care testing, the incorporation of artificial intelligence and machine learning, the evolution of solutions for chronic disease management, increased usage of biosensors in agricultural and environmental surveillance.
What Are the Main Catalysts for Growth in the Biosensors Market?
The escalating occurrence of chronic ailments is predicted to fuel the expansion of the biosensors market in the near future. Chronic conditions are long-lasting health problems that persist for an extended time, often needing constant management and treatment to manage symptoms and sustain a good quality of life. These conditions are increasing due to a mix of factors such as inactive lifestyles, unhealthy eating habits, genetic factors, and environmental contaminants. Biosensors facilitate the early identification and ongoing tracking of biomarkers, transforming the treatment of chronic ailments. For instance, The Lancet, a UK-based book and periodic data publishing entity, reported in June 2023 that global diabetes incidences are expected to rise from 529 million in 2021 to 1.3 billion by 2050. Consequently, the climbing prevalence of chronic diseases is stimulating the growth of the biosensor market.
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Who Are the Major Industry Players Fueling Biosensors Market Expansion?
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.
Which Key Developments Are Influencing the Biosensors Market?
Leading firms in the biosensors market are shifting their focus towards the creation of advanced non-invasive monitoring products such as real-time sweat patches. These innovative products cater to the growing demand for precise and user-friendly health monitoring solutions. A real-time sweat patch is a wearable biosensor that offers instantaneous health data by constantly monitoring biomarkers in sweat. For example, Nix Biosensors, an American biosensor product firm, unveiled its Nix Hydration Biosensor in December 2022, representing a significant leap in consumer biosensor technology. This product, designed for endurance athletes, delivers personalized hydration information based on sweat analysis. It consists of a non-invasive, comfortable sweat patch that persistently evaluates fluid and electrolyte levels along with a robust pod for transmitting data to the Nix App. This app provides real-time hydration details that can assist athletes in preparing for their activities. Nix's groundbreaking features and scientific validation showcases its ambition to redefine the approach athletes use to stay hydrated during workouts.
How Is the Segmentation of the Biosensors Market Defined?
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
Subsegments:
1) By Wearable Biosensors: Glucose Monitoring Biosensors, Heart Rate Monitoring Biosensors, Fitness And Activity Monitoring Biosensors, Oxygen Saturation (Spo2) Monitoring Biosensors, Blood Pressure Monitoring Biosensors, Electrochemical Biosensors For Personal Health, Smartwatches With Biosensor Integration
2) By Non-Wearable Biosensors: Point-Of-Care (POC) Biosensors, Lab-On-A-Chip (LOC) Biosensors, Immunosensors, Optical Biosensors, Enzyme-Based Biosensors, Microbial Biosensors, DNA Biosensors, Electrochemical Biosensors For Medical Diagnostics
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What Is the Leading Region in the Biosensors 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.
What Is Covered In The Biosensors Global Market Report?
- Market Size Analysis: Analyze the Biosensors Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Biosensors Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Biosensors Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Biosensors Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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