According to the most recent analysis by Vynz Research, the global biosensors market valued at USD 24.4 billion in 2022 is anticipated to grow at a rate of 8.0% during the projected period 2022-2030.
The use of biosensors in the healthcare and agricultural industries is expanding, and nanotechnology-based biosensors are starting to appear. These developments are expected to promote market revenue growth between 2022 and 2030. Additionally, the increasing acceptance of biosensors by diabetics for glucose monitoring and the rising prevalence of chronic diseases such as diabetes, cardiovascular disease, and others worldwide are factors driving the market's revenue growth. The monitoring of blood glucose levels in patients, particularly older persons, has been made easier thanks to significant improvements in biosensor technology, which has aided in the management of diabetes mellitus. In-vitro diagnostic (IVD) devices based on biosensors are quickly becoming good alternatives to traditional diagnostic tools because of the many benefits they provide. Biosensors are also utilized in maternity and reproductive tests.
Browse the Bio-Sensor market segment analysis and growth drivers
The bio-sensor market is bifurcated bio-sensor type and technology. During the forecast period, the global biosensors market is anticipated to experience revenue growth as a result of quick technological breakthroughs in biosensors, including Point of Care (POC) testing and the identification of multianalyte for environment monitoring and screening. Traditional testing and diagnostic procedures have been enhanced due to advancements in biosensor technology as a result of biosensor miniaturization. Demand for biosensors is also anticipated to increase as a result of growing investments made by major biosensors market participants in the research and development of new and more sophisticated diagnostic and health monitoring devices.
Trends and innovation in Bio Sensor Market
Due to their special qualities, quartz, glass, and silica-based biosensors have been developed as a result of the widespread acceptance of biosensors. The abundance, biocompatibility, electrical, and mechanical features of silicon nanoparticles make them more likely to be technologically enhanced for use in biosensor applications. Additionally, because silicon nanoparticles are non-toxic, they are crucial for biomedical and biological applications. Applications for silicon nanoparticles include cancer therapy, biosensing, and bioimaging.
North America is expected to register a significant role in the growth plan
Due to the existence of well-established medical and biosensor manufacturing sectors in the area, including Abbott, Bio-Rad Laboratories, Inc., and others, North America is anticipated to have a relatively robust rate of revenue growth over the forecast period. Other factors influencing the growth of the biosensors market's revenue include the rising need for PoC and home diagnosis due to COVID-19 and the growing desire for quicker, better, and more affordable medical diagnostics.
In the upcoming years, the Asia-pacific market is also anticipated to develop the fastest internationally. This may be a result of the area's dense population, rising elderly population, high prevalence of chronic diseases, and advancements in the local healthcare system.
Trusted biosensor products from Dupont are used in vital medical care. It uses metallurgical and organic techniques to create various screen-printed inks for biosensors. These materials were developed especially for sensors used in applications such as food, environmental, diagnostic, patient monitoring, and medication delivery. Medtronics is shifting toward sensor-based solutions to enhance outcomes for patients with diabetes, hypertension, heart disease, and other chronic illnesses. One of the first sensing technologies was developed by Medtronics for cardiac resynchronization therapy (CRT) and implantable cardiac defibrillators (ICDs) devices. This technology is used to track predictive data for cardiac patients and alert them to any worsening fluid in the lungs that could lead to hospitalization.
Roche Diagnostics, DowDuPont, Johnson & Johnson, Siemens Healthcare, Abbott Laboratories, Nova Biomedical Corp., LifeSensors Inc., ACON Laboratories Inc., Biacore, Medtronic Inc., and Thermo-Fisher Scientific are a few of the key companies active in the worldwide biosensors market.
Global Biosensors Market Coverage
Type Insight and Forecast 2018-2030
Technology Insight and Forecast 2018-2030
Biosensors Market by Region
Rest of the World (RoW)