The Switzerland biosensors market size is expected to reach USD 932.6 million by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.9% during the forecast period. Various applications of biosensors in medical fields, rising prevalence of diabetes, high demand for miniature diagnostic device, and rapid technological advancements are the key factors driving the growth.
Various government initiatives aimed at development of proteomics and genomics are expected to drive the market for biosensors. Most of the IT companies are also significantly investing in product development. Increasing investments by major IT players such as Infosys, TCS, and IBM are expected to boost the Switzerland biosensors market.
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The players in biosensors industry are undertaking various strategies to strengthen their product portfolios and offer diverse technologically advanced and innovative products to their customers. Partnerships, acquisitions, and product launches are the most prominently adopted strategies by the companies to attract more customers. In addition, increasing prevalence of type I and type II diabetes in Switzerland is expected to drive the market over the forecast period. According to the International Diabetes Federation, in 2017, around 547,654 cases of diabetes were reported in Switzerland, which is anticipated to fuel the market growth over the forecast period.
Switzerland Biosensors Market Report Highlights
• On the basis of technology, electrochemical segment held the largest market share in 2018 and is expected to witness considerable CAGR over the forecast period owing to their widespread applications for quantification and analysis in biochemical and biological processes
• Biosensors in agriculture industry is expected to witness the fastest CAGR over the forecast period owing to the rising demand for sensor technology in the field
• PoC testing segment held the largest market share in 2018. Increasing demand for portable and rapid point-of-care diagnostic devices that can be used outside conventional laboratories is one of the key drivers
• Prominent players present in the Switzerland biosensors market are Abbott, Biosensor International Group, Ltd., Bayer AG, Xsensio, and Sensirion AG Switzerland
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Switzerland Biosensors Market Segmentation
Grand View Research has segmented Switzerland biosensors market report on the basis of technology, application, and end use:
Switzerland Biosensors Technology Outlook (Revenue, USD Million, 2015 - 2026)
• Thermal
• Electrochemical
• Piezoelectric
• Optical
Switzerland Biosensors Application Outlook (Revenue, USD Million, 2015 - 2026)
• Medical
o Cholesterol
o Blood Glucose
o Blood Gas Analyzer
o Pregnancy Testing
o Drug Discovery
o Infectious Disease
• Food Toxicity
• Bioreactor
• Agriculture
• Environment
• Others
Switzerland Biosensors End Use Outlook (Revenue, USD Million, 2015 - 2026)
• Home Healthcare Diagnostics
• PoC Testing
• Food Industry
• Research Laboratories
• Security and Bio-defense
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.