Global Biosensors Market - Analysis and Forecast (2022-2030)

Industry Insights by Type (Wearable, Non-wearable), By Technology (Electrochemical, Optical, Thermal, Piezoelectric, Nanomechanical, Others), by Application (Point of Care, Home Diagnostics, Research Lab, Biodefense, Environmental Monitoring, Food & Beverages)

Industry Overview

The market for biosensors stood at $24.4 billion in 2022 and it is expected to reach $38.0 billion in 2030, advancing at a CAGR of 8% during the forecast period which is 2022-2030. The growing healthcare applications of biosensors, the rising demand for small diagnostic tools, the increasing number of diabetic patients, and the ongoing technological improvements are the main drivers of the market growth worldwide. 

Market Segmentation

Insight by Type

The global biosensors market is divided into wearable and non-wearable categories, based on type. The non-wearable category accounted for a larger market share in 2019. This is due to the high prevalence of chronic diseases, including cancer, diabetes, and other ailments, which increase the demand for traditional techniques of diagnosis and detection. These traditional techniques include biosensors, which are frequently employed in hospitals and laboratories for the detection of blood sugar levels or the analysis of gas levels in the blood. Non-wearable biosensors' high efficacy and precision combined with ongoing product improvement are projected to have a beneficial effect on the market growth in this category throughout the course of the forecast period.

However, due to the rising awareness of healthy lifestyles, the market for wearable biosensors is anticipated to expand at a higher rate throughout the forecast period. Due to adults' declining physical activity, which contributes to increased weight and hormonal diseases, the adoption rate of wearable biosensors is increasing in both developed and developing countries.

Insight by Technology

The biosensors market is divided into electrochemical, thermal, nanomechanical, optical, piezoelectric, and others, based on technology. Among these, the electrochemical category dominates the market. The growing need for electrochemical biosensors in food analysis and disease diagnostics is the primary factor propelling the growth of the electrochemical biosensors market. Moreover, due to the rise in diabetes patients, the demand for glucometers based on electrochemical biosensor technology is increasing. Additionally, the surging prevalence of chronic diseases is projected to increase the demand for electrochemical biosensors, which facilitate precise diagnosis.

Biosensors Market Report Coverage

Industry Dynamics

Growth Drivers

The various healthcare applications of biosensors, the rising demand for small diagnostic tools, the increasing number of diabetic patients, and ongoing technical improvements are the main drivers propelling the growth of the worldwide biosensors market.

For instance, according to the WHO, there were 422 million cases of diabetes in 2014. Additionally, according to the International Diabetes Federation (IDF), the number of adults with diabetes worldwide is projected to rise to 629 million by the year 2045, from 425 million in 2017. The growing public awareness of diabetes self-management encourages the integration of cutting-edge technology in glucometers, which propels the growth of the biosensors market.

Challenges

The expensive nature of biosensor development and the delayed rate of commercialization could restrain the expansion of the world biosensors market.

Opportunities

The market offers several opportunities to players, due to the following reasons:

• Emerging markets in developing countries
• Lucrative development potential in the food business, environmental monitoring, and biodefense

Geographic Overview

Geographically, North America leads the biosensors market. The preference for biosensors is predicted to expand in the region, as a result of the rising incidence of chronic diseases like cancer, diabetes, and problems linked to obesity. The need for biosensors in the area ought to be stimulated by increasing investment in R&D efforts to meet changing and expanding client demand. Additionally, the growing aging population, increased government financing, and technical advancements are all driving the North American biosensors market forward. For instance, the U.S. Census Bureau estimated that there were around 43.1 million Americans aged 65 years and over in 2012, and this number is projected to increase to 83.7 million by 2050.

On the other hand, the APAC market is expected to witness the fastest growth in the coming years, globally. This can be due to its dense population, growth in the aging population, high prevalence of chronic diseases, and improvement in the healthcare system in the region.

Competitive Insight

Dupont provides trusted biosensor products that are utilized in crucial patient care. It produces several screen-printed inks for use in biosensors using metallurgical and organic processes. These materials were created specifically for sensors used in environmental, food, diagnostics, patient monitoring, and medicine delivery applications.

In order to improve outcomes for patients with diabetes, hypertension, heart disease, and other chronic conditions, Medtronics is moving toward sensor-based solutions. For cardiac resynchronization therapy (CRT) and implantable cardiac defibrillators (ICDs) devices, Medtronics created one of the first sensing technologies that is used to track predictive data for cardiac patients and warn them of any worsening fluid in the lungs that could result in hospitalization.

Some of the major players operating in the global biosensors market are Roche Diagnostics, DowDuPont, Johnson & Johnson, Siemens Healthcare, Abbott Laboratories, Nova Biomedical Corp., LifeSensors Inc., ACON Laboratories Inc., Biacore., Medtronic Inc., and Thermo-Fisher Scientific.

Forecast Parameters

• Identifying variables and establishing market impact.
• Establishing market trends regionally.
• Analyzing opportunities and market penetration rates by understanding product commercialization, and regional expansion.
• Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
• Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
• Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trends.
• Understanding adoption, development, distribution, and regulatory framework.

Data Validation

• Estimated and forecasted data was validated by industry experts.
• Apart from industry experts, data triangulation methods were used for validation.
• The bottom-and top-down approach has been used for the estimation and forecast of market data, whereas the top-down approach was used for validation.
• Demand, as well as supply side surveys, were conducted in order to understand the industry dynamics and data validation.

Research Phases

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include the CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.

Source: VynZ Research

Source: VynZ Research

The Biosensors Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2022–2030.

Segments Covered in the Report

• By Type
  • Wearable
  • Non-Wearable
• By Technology
  • Electrochemical
  • Thermal
  • Nanomechanical
  • Optical
  • Piezoelectric
  • Others

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

1.    Research Overview 

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Type
                1.2.2.    By Technology
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Type    
                5.1.1.    Wearable Biosensor
                        5.1.1.1.    Market Definition
                        5.1.1.2.    Market Estimation and Forecast to 2030
                5.1.2.    Non-wearable Biosensor
                        5.1.2.1.    Market Definition
                        5.1.2.2.    Market Estimation and Forecast to 2030
        5.2.    By Technology
                5.2.1.    Electrochemical Biosensor
                        5.2.1.1.    Market Definition
                        5.2.1.2.    Market Estimation and Forecast to 2030
                5.2.2.    Optical Biosensor
                        5.2.2.1.    Market Definition
                        5.2.2.2.    Market Estimation and Forecast to 2030
                5.2.3.    Piezoelectric Biosensor
                        5.2.3.1.    Market Definition
                        5.2.3.2.    Market Estimation and Forecast to 2030
                5.2.4.    Thermal Biosensor
                        5.2.4.1.    Market Definition
                        5.2.4.2.    Market Estimation and Forecast to 2030
                5.2.5.    Nanomechanical Biosensor
                        5.2.5.1.    Market Definition
                        5.2.5.2.    Market Estimation and Forecast to 2030
                5.2.6.    Others
                        5.2.6.1.    Market Definition
                        5.2.6.2.    Market Estimation and Forecast to 2030

6.    North America Market Estimate and Forecast

        6.1.    By Type
        6.2.    By Technology
        6.3.    By Country
                6.3.1.    U.S. Market Estimate and Forecast
                6.3.2.    Canada Market Estimate and Forecast
                6.3.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

        7.1.    By Type
        7.2.    By Technology
        7.3.    By Country
                7.3.1.    Germany Market Estimate and Forecast
                7.3.2.    France Market Estimate and Forecast
                7.3.3.    U.K. Market Estimate and Forecast
                7.3.4.    Italy Market Estimate and Forecast
                7.3.5.    Spain Market Estimate and Forecast
                7.3.6.    Russia Market Estimate and Forecast
                7.3.7.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

        8.1.    By Type
        8.2.    By Technology
        8.3.    By Country 
                8.3.1.    China Market Estimate and Forecast
                8.3.2.    Japan Market Estimate and Forecast
                8.3.3.    India Market Estimate and Forecast
                8.3.4.    South Korea Market Estimate and Forecast
                8.3.5.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

        9.1.    By Type
        9.2.    By Technology
        9.3.    By Country
                9.3.1.    Brazil Market Estimate and Forecast
                9.3.2.    Saudi Arabia Market Estimate and Forecast
                9.3.3.    South Africa Market Estimate and Forecast
                9.3.4.    U.A.E. Market Estimate and Forecast
                9.3.5.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.    DowDuPont
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.    Roche Diagnostics
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.    Johnson & Johnson
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.    Abbott Laboratories
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.    Siemens Healthcare
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.    Nova Biomedical Corp.
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
        10.7.    ACON Laboratories, Inc.
                10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
        10.8.    LifeSensors Inc.
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
        10.9.    Medtronic Inc.
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments
        10.10.    Biacore
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.11.    Thermo-Fisher Scientific
                10.11.1. Snapshot
                10.11.2. Overview
                10.11.3. Offerings
                10.11.4. Financial Insight
                10.11.5. Recent Developments

11.    Appendix

11.1.    Exchange Rates
11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Biosensors Market Size, By Type, 2018 – 2021 (USD Billion)
Table 5 Global Biosensors Market Size, By Type, 2022 – 2030 (USD Billion)
Table 6 Global Biosensors Market Size, By Technology, 2018 – 2021 (USD Billion)
Table 7 Global Biosensors Market Size, By Technology, 2022 – 2030 (USD Billion)
Table 8 Global Biosensors Market Size, By Region, 2018 – 2021 (USD Billion)
Table 9 Global Biosensors Market Size, By Region, 2022 – 2030 (USD Billion)
Table 10 North America Biosensors Market Size, By Type, 2018 – 2021 (USD Billion)
Table 11 North America Biosensors Market Size, By Type, 2022 – 2030 (USD Billion)
Table 12 North America Biosensors Market Size, By Technology, 2018 – 2021 (USD Billion)
Table 13 North America Biosensors Market Size, By Technology, 2022 – 2030 (USD Billion)
Table 14 North America Biosensors Market Size, By Country, 2018 – 2021 (USD Billion)
Table 15 North America Biosensors Market Size, By Country, 2022 – 2030 (USD Billion)
Table 16 Europe Biosensors Market Size, By Type, 2018 – 2021 (USD Billion)
Table 17 Europe Biosensors Market Size, By Type, 2022 – 2030 (USD Billion)
Table 18 Europe Biosensors Market Size, By Technology, 2018 – 2021 (USD Billion)
Table 19 Europe Biosensors Market Size, By Technology, 2022 – 2030 (USD Billion)
Table 20 Europe Biosensors Market Size, By Country, 2018 – 2021 (USD Billion)
Table 21 Europe Biosensors Market Size, By Country, 2022 – 2030 (USD Billion)
Table 22 Asia-Pacific Biosensors Market Size, By Type, 2018 – 2021 (USD Billion)
Table 23 Asia-Pacific Biosensors Market Size, By Type, 2022 – 2030 (USD Billion)
Table 24 Asia-Pacific Biosensors Market Size, By Technology, 2018 – 2021 (USD Billion)
Table 25 Asia-Pacific Biosensors Market Size, By Technology, 2022 – 2030 (USD Billion)
Table 26 Asia-Pacific Biosensors Market Size, By Country, 2018 – 2021 (USD Billion)
Table 27 Asia-Pacific Biosensors Market Size, By Country, 2022 – 2030 (USD Billion)
Table 28 RoW Biosensors Market Size, By Type, 2018 – 2021 (USD Billion)
Table 29 RoW Biosensors Market Size, By Type, 2022 – 2030 (USD Billion)
Table 30 RoW Biosensors Market Size, By Technology, 2018 – 2021 (USD Billion)
Table 31 RoW Biosensors Market Size, By Technology, 2022 – 2030 (USD Billion)
Table 32 RoW Biosensors Market Size, By Country, 2018 – 2021 (USD Billion)
Table 33 RoW Biosensors Market Size, By Country, 2022 – 2030 (USD Billion)
Table 34 Snapshot – DowDuPont
Table 35 Snapshot – Roche Diagnostics
Table 36 Snapshot – Johnson & Johnson
Table 37 Snapshot – Abbott Laboratories
Table 38 Snapshot – Siemens Healthcare
Table 39 Snapshot – Nova Biomedical Corp.
Table 40 Snapshot – ACON Laboratories, Inc.
Table 41 Snapshot – LifeSensors Inc.
Table 42 Snapshot – Medtronic Inc.
Table 43 Snapshot – Biacore.
Table 44 Snapshot – Thermo-Fisher Scientific

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Biosensors Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Biosensors Market Highlight
Figure 12 Global Biosensors Market Size, By Type, 2018 – 2030 (USD Billion)
Figure 13 Global Biosensors Market Size, By Technology, 2018 – 2030 (USD Billion)
Figure 14 Global Biosensors Market Size, By Region, 2018 – 2030 (USD Billion)
Figure 15 North America Biosensors Market Highlight
Figure 16 North America Biosensors Market Size, By Type, 2018 – 2030 (USD Billion)
Figure 17 North America Biosensors Market Size, By Technology, 2018 – 2030 (USD Billion)
Figure 18 North America Biosensors Market Size, By Country, 2018 – 2030 (USD Billion)
Figure 19 Europe Biosensors Market Highlight
Figure 20 Europe Biosensors Market Size, By Type, 2018 – 2030 (USD Billion)
Figure 21 Europe Biosensors Market Size, By Technology, 2018 – 2030 (USD Billion)
Figure 22 Europe Biosensors Market Size, By Country, 2018 – 2030 (USD Billion)
Figure 23 Asia-Pacific Biosensors Market Highlight
Figure 24 Asia-Pacific Biosensors Market Size, By Type, 2018 – 2030 (USD Billion)
Figure 25 Asia-Pacific Biosensors Market Size, By Technology, 2018 – 2030 (USD Billion)
Figure 26 Asia-Pacific Biosensors Market Size, By Country, 2018 – 2030 (USD Billion)
Figure 27 RoW Biosensors Market Highlight
Figure 28 RoW Biosensors Market Size, By Type, 2018 – 2030 (USD Billion)
Figure 29 RoW Biosensors Market Size, By Technology, 2018 – 2030 (USD Billion)
Figure 30 RoW Biosensors Market Size, By Country, 2018 – 2030 (USD Billion)