electrochemical biosensors market 2023 Key Players Are F. Hoffmann-La Roche AG, Medtronics, Bayer AG, Abbott Laboratories And More

The Global electrochemical biosensors market, is projected to grow at a CAGR of 9.7% and is expected to reach USD 23707.2 million by 2022. Globally North America accounted for the largest market share in 2016.
Over the past few years nanotechnology has becoming increasingly essential in the field of biosensors. The performance and sensitivity of biosensors is incredibly enhanced with the combination of nanomaterials into their construction. The biosensors works on various technologies which include electrochemical biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors. This report by MRFR majorly focuses on the electrochemical biosensors which holds the largest market share among all others biosensor technologies. The Electrochemical biosensors plays a major role in the field of healthcare which include applications such as diagnosis, patient monitoring and many others. The end user such as point of care testing, diagnostics centers, research laboratories and various others influence the growth of the market.
The global market of electrochemical biosensors is growing rapidly at the CAGR of around 9.7% for the forecasted period. The growth of the market is likely to driven by increasing diabetic population, rising prevalence of chronic and lifestyle induced disease, increasing demand for POCT, increasing application of biosensors in various industries. However, factors such as strict regulatory requirements, reimbursement policies issues in healthcare systems is further hampering the market.
Key Players for Electrochemical biosensors Market:
F. Hoffmann-La Roche AG, Medtronics, Bayer AG, Abbott Laboratories, I-SENS, Inc, Siemens Healthcare GmbH and others.
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Segments:
Global Electrochemical biosensors market has been segmented on the basis of applications which comprises of diagnosis, monitoring and others. Furthermore on the basis of end users the market is segmented into point of care testing, diagnostics center, research laboratories and others.
Regional Analysis of Electrochemical biosensors Market:
North America is the largest market of global electrochemical biosensors market which is expected to grow at the CAGR of 9.4%. In North America, electrochemical biosensor market is driven due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.
Usage of biosensor technology in North America is higher as compared to other regions of the world due to technological advancements and broader application areas in different industries. Since, the healthcare expenditure is high in North America, biosensor devices are used extensively for accurate, reliable and quick results for early detection and prevention of diseases.
Europe is the second largest market for electrochemical biosensors which is expected to grow at a CAGR of 9.8%.
Asia Pacific region is expected to be fastest growing region of this market. The electrochemical biosensors market in Asia-Pacific region is growing due to increasing awareness of clinical outcomes, large population base, rise in geriatric population, increase in diabetic population and technological advancement in medical devices and equipment. The awareness of various diseases and requirement of high quality care is increasing day by day. For instance, according to a study conducted by National Centre for Biotechnology Information (NCBI) in 2012, approximately 60% of Asian population was suffering from diabetes and the prevalence of diabetes is increasing. In addition, Asia-Pacific has become one of the attractive markets for medical device companies due to low regulatory requirements and low cost manufacturing of devices.
Key Findings
North America accounted for the largest market share with 43.0% of the global electrochemical biosensors market in the year 2016.
By end users point of care testing market holds the largest market share.
By application diagnosis segment accounted for the largest market share and expected to reach 12689.9 million in the year 2022.
Asia-Pacific pacific projected to be the fastest growing region with a growth rate of 10.0% for the forecasted period.
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LIST OF FIGURES
FIGURE 1 GLOBAL ELECTROCHEMICAL BIOSENSORS MARKET SHARE, BY APPLICATION, 2016 (%) 10
FIGURE 2 GLOBAL ELECTROCHEMICAL BIOSENSORS MARKET SHARE, BY END USER, 2016 (%) 11
FIGURE 3 GLOBAL ELECTROCHEMICAL BIOSENSORS MARKET SHARE, BY REGION, 2016 (%) 12
FIGURE 4 RESEARCH PROCESS 15
FIGURE 5 DRIVERS & RESTRAINTS IMPACT ANALYSIS OF GLOBAL ELECTROCHEMICAL BIOSENSORS MARKET 17
FIGURE 6 NUMBER OF PEOPLE SUFFERING FROM DIABETES AGED 20-79 YEARS, 2013 AND 2035 18
FIGURE 7 PORTERS FIVE FORCES ANALYSISOF GLOBAL ELECTROCHEMICAL BIOSENSORS MARKET 22
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