Global Biosensors Market is expected to reach 31,920.4 million by 2024 from 16,153.1 million in 2016, at a CAGR of 8.9% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Segmentation: Global Biosensors Market - Industry Trends and Forecast to 2024
· By Technology (Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Nano mechanical Biosensors, Thermal Biosensors, Others),
· By Product (Wearable Biosensors, Non-Wearable Biosensors),
· By Application (Point Of Care (POC), Home Diagnostics and Biodefence, Environmental Monitoring, Food & Beverage Industry, Research Labs),
· By Geography (North America, Europe, Asia-Pacific, South America, Middle East And Africa)
Drivers:
The major factors driving the growth of this market are significant technological advancements in the field of biosensor, emergence of nanotechnology-based biosensors, increasing use of biosensors to monitor glucose levels in individuals with diabetes, high demand of biosensor in monitoring and diagnostic devices and rising demand for disposable, cost-efficient & user-friendly devices of the market are furthermore boosting the growth of the global biosensor market.
SIGNIFICANT TECHNOLOGICAL ADVANCEMENTS IN THE FIELD OF BIOSENSOR
· The biosensor technology is in use over 30 years to perform measurement of a biochemical quantity.
· NeuroSky's EEG biosensor is featured with low-cost OEM solution which is a high-performance bio-signal on a single chip for accurate brain activity detection and processing.
EMERGENCE OF NANOTECHNOLOGY-BASED BIOSENSORS
· Nanotechnology-based biosensors are made out of semiconductors, metal oxides and inorganic materials, to detect the variety of biomolecules in numerous applications. Nanomaterials such as gold nanoparticles, magnetic nanoparticles, quantum dots and carbon nanotubes are steadily applied to biosensors due to their unique physical, chemical, mechanical, magnetic and optical properties which enhance the sensitivity and specificity of detection.
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HIGH DEMAND OF BIOSENSOR IN MONITORING AND DIAGNOSTIC DEVICES
· The advances in biosensors are appealing researchers to develop point-of-care (POC) diagnostic and monitoring devices as it offers continuous monitoring of biologically relevant parameters, metabolites and other bio-molecules, relevant to diseases such as diabetes, cancer, ischemia, and Alzheimer's.


RISING DEMAND FOR DISPOSABLE, COST-EFFICIENT, AND USER-FRIENDLY DEVICES
· The need of medical diagnostics devices for reliable and accurate information on the desired biochemical parameters is an essential requirement for effective healthcare, inexpensive devices which are commonly used. Biosensors devices offer advantages such as specificity, small size faster response and cost. Hence, they are proving practical solution to the problems posed by the contemporary healthcare industry.
Major Players:
The Abbott is going to dominate the global biosensor market followed by
Johnsons & Johnson Services, Inc., Medtronic and
Other players operating in this market are include -
· DuPont, Bio-Rad Laboratories, Inc.,
· Universal Biosensors Inc.,
· Sysmex Corporation,
· Pharmaco-Kinesis,
· Nova Biomedical,
· ACON Laboratories, Inc.,
· General Electric,
· DANAHER (Molecular devices, LLC),
· Drägerwerk AG & Co.
· KGaA,
· Ercon Inc.,
· HMicro Inc. and
· Xsensio among others.
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