Market Overview

Global Biosensors Market size was valued at around 28.90 billion in 2023 and is expected to reach a value of USD 57.29 billion by 2032, at a CAGR of 7.9% over the forecast period (2024–2032).

We commonly use several sensors in different technological devices in our daily lives. One of them that has become very popular recently is biosensors. A biosensor is a synergistic combination of microelectronics and biotechnology that, after being processed in different data conditioning circuits through contact with physiological or biological processes, produces an electrical signal in a form that can be understood by humans. In reality, however, taking biological data to an electronic signal requires multidisciplinary education in physics, biology, electronics, and chemistry. It is therefore a significant undertaking. The ease of use, high sensitivity, quick, easy real-time testing, and especially the eco-friendliness due to its unique ability to detect a large number of analytes simultaneously makes it widely applied in a range of commercial applications.

The traditional methods are slow to prepare the samples, highly skilled personnel for laboratory testing, and cannot detect in the field. Biosensors, unlike conventional laboratory-based methods, offer point-of-care testing, which involves the selection of appropriate biorecognition elements, immobilization techniques, electronic transducers, and portable detection circuits to identify specific target analytes. Food safety and analysis, glucose monitoring, early detection of cancer through the identification of cancer biomarkers, disease progression, medication discovery and detection, and bio sample analysis such as blood, urine, and saliva are the popular applications of biosensors.

Market Drivers

Growing Demand

• It will likely be about 21.7 million extra cases of cancer and increasing the adoption of treatment for cancer by 2030.
• Biosensors and biochips demand increases because the diseases, among which diabetes along with co-morbid conditions such as CVDs are at the top of the cause of death around the world. In India alone, it will likely reach to 90 million by 2025 from present 60 million. Hypertension is estimated to affect one in four people above 18.2, 9 years in India. NCDs, which include cancers, diabetes, heart and lung illnesses, and stroke, account for nearly 5.8 million Indian deaths every year.

Untapped Potential of the Sector

• One of the emerging industries would be the sector of medical device. A right policy climate would have been encouraging, especially towards FDI-permitted 100% FDI.
• Leading world companies are on the ground there. enormous virgin market with promise of import substitution.
• There are huge gaps which exist between Indian supply and demands for medical device, which lies between 70 and 80 percent on the imports.

Market Opportunities

High-growth opportunities in the wearable device market

• Prospects of continuously monitoring the vital signs of patients, preterm babies, kids, athletes, fitness enthusiasts, and people in remote locations where medical and health services are scanty, are rapidly growing with the wearable’s biosensors. By remote monitoring using wearable and networked biosensors, patients may avoid or be discharged from the hospitals much earlier. Wearable biosensors may release pressure from healthcare staff and enable more space for hospital care in intensive care using telemedicine, monitoring, and transmission of physiological data from a distance. In smart textiles, sensors are incorporated into the cloth to make vital sign monitoring more convenient and more comfortable. Conformal, printed electronics can be presented in the form of biosensor patches or even tattoos, that would enable doctors to take the patient data for long periods. These sensors fit well with the quantified self-trend to monitor biological data for health improvements. Disposable patches can be made for crucial biomarkers, either present in sweat or some chemicals like glucose, potassium, and salt.

Market Restraining Factors

Slow rate of commercialization and reluctance in adopting new treatment practices

• High costs of biosensors and the fact that the healthcare sector is the only source of demand have led to commercialization of this technology at a glacial pace over recent years. Little research and development coupled with promising results are causing industry participants distress in the commercialization of biosensors for nonmedical applications, such as military, biodefense, fermentation control, and environmental monitoring. Due to price sensitivity, end-user acceptance, and worries about the products' quality, authenticity, and dependability, there is a delayed commercialisation in the biosensors market as well.

Segmentation Analysis

The market scope is segmented because of by Type, by Technology, by Application.

• By Type

Based on the Type of the market is segmented into Sensor Patch, Embedded Device.

The Wireless and Sensor Technology is the New Paradigm to Gather and Process Information in Everyday Life. Future people are soon going to live in a future world with surrounded embedded and wirelessly networked technology for daily life, effortless information acquisition from the physical world, and a productive working day. State-of-the-art wireless sensing systems, which can range from as large as an entire city or structure to as small as a sensor or as sophisticated as an embedded device, are being driven by new smart sensing and embedded applications in space and other hostile environments. They comprise both hardware and software. Because of their unique characteristics, these systems must be open, scalable, flexible, and dependable in addition to integrating numerous devices from small sensors up to large computers. These challenging situations, which are commonly characterized by highly dynamic and unpredictable operating conditions, require novel solutions based on autonomous operation and embedded intelligence. There is an enormous number of research opportunities in this exciting topic.

• By Technology

Based on the Technology of the market is segmented into Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Thermal Biosensors, Nanomechanical Biosensors.

The industry is comprised of four technology categories: thermal, optical, electrochemical, and piezoelectric. The electrochemical segment, which held a market share of over 72.3% in 2023, is expected to grow at the strongest compound annual growth rate (CAGR) of 8.3% between 2024 and 2032, because of its extensive application in biological and metabolic processes for measurement and analysis. Some of the benefits include low detection limits, wide linear response ranges, excellent stability, and reproducibility. There are specific advantages of electrochemical detection in comparison to piezoelectric, thermal, and optical detection, which lead to higher market penetration and consumption.

Robustness, affordability, disposability, compatibility with emerging microfabrication technologies, simplicity of use, independence from sample turbidity, and low power needs are some benefits. The optical category is forecast to grow at the highest CAGR between 2024 and 2032. Optical biosensors are likely to gain prominence in analysis over the course of the forecast period because of their wide analytical coverage. It provides the concentration, kinetics, and equilibrium. Furthermore, optical biosensors help to monitor fermentation processes, interactions of receptors with cells, and structure investigations. Such factors will further increase the demand for optical biosensors in the market.

• Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. North America stood for around 39.60% of income in 2023, with the largest part caused by a number of considerable companies and by a high prevalence of targeted diseases within the area. During the course of the forecasting period, improvements in technologies, such as smaller diagnostic machinery, which augment penetration for EMR and bring exact and quick findings, would enhance global growth. Additionally, the United States has the National Environmental Policy Act, the Clean Water Act, and the Clean Air Act, which are all expected to present opportunities for growth of the business in the region.

The Middle East and Africa are expected to increase between 2024 and 2032 at a compound annual growth rate of 12.5%. The growth in the regional market is attributed to significant unmet medical needs for target diseases such as diabetes, cancer, and other infectious diseases, along with gradually increasing healthcare expenditures and patient awareness. It is then surmised that the market will grow as the government initiates the reduction of hospital stays by creating outpatient care models while progressively increasing demand for home healthcare, PoC, among other adult-focused services.

List of Companies Profiled

• Bio-Rad Laboratories Inc.
• Medtronic
• Abbott Laboratories
• Biosensors International Group, Ltd.
• Pinnacle Technologies Inc.
• Ercon, Inc.
• DuPont Biosensor Materials
• Johnson & Johnson
• Koninklijke Philips N.V.
• LifeScan, Inc.
• QTL Biodetection LLC
• Molecular Devices Corp.
• Nova Biomedical
• Molex LLC
• TDK Corp.
• Zimmer & Peacock AS
• Siemens Healthcare

Key Industry Developments

In January 2023, A Bionsensor Centre of Excellence has just been opened and it will attempt to vertically integrate Intricon operations so as to provide biosensors for medical equipment.

In January 2021, Roche and Sysmex have entered into a Global Business Partnership Agreement (GBP) for the purpose of providing haematology diagnostic solutions. The new partnership is aimed at enhancing clinical decision-making and customer experience through the exploitation of the IT systems. This fruitful, long-running collaboration keeps developing and introducing new haematology diagnostic techniques to labs around the world.

Report Coverage

The report will cover the qualitative and quantitative data on the global Biosensors Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Biosensors Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Biosensors Market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Biosensors . The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Biosensors companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Biosensors Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Biosensors Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada
• Mexico

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Biosensors Market valued?
• Which region has the largest share in 2024 for the global Biosensors Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Biosensors Market

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Billion