Biosensors Market : Opportunities , Challenges and Market Dynamics

[182 Pages Report] The biosensors market was valued at USD 15.96 billion in 2016 and is estimated to reach USD 27.06 billion by 2022, at a CAGR of 8.84% during the forecast period. The growing demand for biosensors in industries such as healthcare, biodefense, environmental monitoring, and food & beverages worldwide is driving the growth of the biosensors market.

The biosensors ecosystem comprises biosensors -related manufacturing, technology, and service vendors such as Abbott Point of Care Inc. (US), Medtronic Inc. (US), F. Hoffman La-Roche Ltd. (Switzerland), Siemens Healthcare AG (Germany), Lifescan, Inc. (US), LifeSensors Inc. (US), Nova Biomedical Corp. (US), Acon Laboratories Inc. (US), Universal Biosensors (Australia), Pharmaco-Kinesis Corporation (PKC) (US), Bayer Healthcare AG (Germany), biacore (UK)

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Point-of-care applications held the largest size of the biosensors market in 2016

POC applications can be segmented into glucose monitoring, cardiac markers, infectious diseases, coagulation monitoring, pregnancy and fertility testing, blood gas and electrolytes, tumor or cancers markers, urinalysis testing, and cholesterol tests, and others. Cardiac markers are the most dynamic POC applications and are expected to witness several innovations and investments over the next five years, owing to the increasing number of people suffering from cardiovascular diseases (CVDs) and rising demand for instant diagnosis of these diseases.

Glucose monitoring to hold the largest share of the biosensors market for point-of-care applications by 2022

Blood glucose monitoring plays a crucial role in the management of diabetes. Glucose biosensors provide real-time information on the changes in glucose concentration. The glucose biosensors technology helps individuals maintain normal blood glucose levels. The rising prevalence of diabetes worldwide, technological advancements in self-monitoring of blood glucose, and growing awareness about POC testing are the key factors boosting the demand for glucose monitoring biosensors. Among all the applications, glucose monitoring held the largest size of the biosensors in 2016. The increasing number of people suffering from diabetes among the urban population is boosting the demand for glucose monitoring biosensors.

The market in APAC expected to grow at a high rate between 2017 and 2022

The market in APAC is expected to grow at a high rate between 2017 and 2022. The increasing number of people suffering from diabetes and government initiatives toward the improvement of the healthcare sector in the region are boosting the demand for glucose monitors, in which biosensors are used, in APAC.

Some of the major players operating in the biosensors market include Abbott Point of Care Inc. (US), Medtronic, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Siemens AG (Germany), LifeScan, Inc. (US), LifeSensors Inc. (US), Nova Biomedical Corp. (US), Acon Laboratories Inc. (US), Universal Biosensors (Australia), Pharmaco-Kinesis Corporation (PKC) (US), Bayer Healthcare AG (Germany), Biacore (UK), Bio-Rad Laboratories Inc. (US), Biosensors International Ltd. (Singapore), Ercon, Inc. (US), DuPont (US), and Sysmex Corporation (Japan).

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