Global Biosensors Market to reach USD 36.4 billion by 2025.
Global Biosensors Market valued approximately USD 16.34 billion in 2016 is anticipated to grow with a healthy growth rate of more than 9.3% over the forecast period 2018-2025. Recent technological advancement in medical field, Numerous applications of Biosensors, increasing numbers of diabetic patients and others those requires early diagnosis, high demand for small-scale diagnostic devices are the major factors driving the growth of the Global Biosensors market.
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Biosensors utilizes the medical science, chemistry and nanotechnology all together, and facilitate early and precise diagnosis of the patient and proper prognosis of the disease. Rapidly increasing demand for disposable, low cost device with less complexity, user friendly and low maintenance device are aiding to the growth of the market. Furthermore, the government initiative and increasing investments in R&D of the technology have fueled the market growth. A biosensor are analytical devices used in the medical field, for the analysis of a patient body to detect and diagnose the disease. This technology combines a biological component with a physicochemical detector. A Biosensor system consists of a bio-recognition site, biotransducer component, and electronic system which includes a signal amplifier, processor, and display. For different applications Biosensors are available in different varieties like electrochemical biosensors, optical biosensors, electronic biosensors, piezoelectric biosensors, gravimetric biosensors, pyroelectric biosensors. The Biosensors have both commercial and noncommercial applications. They are used in glucose monitoring in diabetes patients, other medical health related targets, detection of pesticides and river water contaminants such as heavy metal ions, remote sensing of airborne bacteria, remote sensing of water quality in coastal waters, detection of pathogens, determining levels of toxic substances before and after bioremediation, detection and determining of organophosphate, routine analytical measurement of folic acid, biotin, vitamin B12 and pantothenic acid as an alternative to microbiological assay, determination of drug residues in food, drug discovery and evaluation of biological activity of new compounds, and detection of toxic metabolites such as mycotoxins.
The regional analysis of Global Biosensors Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
? Pressure Sensors
? Image Sensors
? Other Sensors
By Placement of Sensors:
? Strip Sensors
? Wearable Sensors
? Implantable Sensors
? Invasive Sensors
? Ingestible Sensors
? Diagnostic Testing Devices
? Therapeutic Devices
? Patient Monitoring Devices
? Imaging Devices
? North America
? Asia Pacific
? Latin America
? Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Medtronic PLC, Stmicroelectronics N.V., Honeywell International, Inc., TE Connectivity, Smiths Medical, GE Healthcare, Philips Healthcare, Freescale Semiconductor, Inc., Analog Devices, Inc., Omnivision Technologies Inc. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Biosensors Market in Market Study:
? Key Consulting Companies & Advisors
? Large, medium-sized, and small enterprises
? Venture capitalists
? Value-Added Resellers (VARs)
? Third-party knowledge providers
? Investment bankers