Biosensors Market Size to Surpass US$ 53.26 Billion by 2031 – Growth Plus Reports

Newark, New Castle, USA, May 19, 2023 (GLOBE NEWSWIRE) — According to a recent Growth Plus Reports study, the biosensors market was valued at US$ 25.9 billion in 2022. The market will register a revenue CAGR of 8.34% and reach US$ 53.26 billion by 2031. The study examines the important strategies, drivers and prospects, competitive circumstances, shifting market dynamics, market size, data and forecasts, and important investment regions.

Key Takeaways:

• The increased prevalence of chronic diseases will drive market revenue growth.
• The increasing need for point-of-care testing will support market revenue growth.
• North America dominates the global biosensors market. 

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                                                          Biosensors Market Scope

Market Drivers

The increased prevalence of chronic diseases like cardiovascular disease, diabetes, and cancer will drive the market’s revenue growth. Furthermore, rising pollution levels and rapid urbanization are expected to fuel the market’s revenue growth. Apart from this, advancements in biosensor technology, the increasing need for point-of-care testing, and biosensors’ low cost and high accuracy are expected to support the market’s revenue growth.

Market Segmentation

Growth Plus Reports has analyzed the global biosensors market from five perspectives: Type, Product, Technology, Application, and Region.

Based on the Type, the biosensors market is segmented into embedded devices and sensor patch.

Based on the Product, the biosensors market is segmented into wearable biosensors and non-wearable biosensors.

Based on the Technology, the biosensors market is segmented into thermal, electrochemical, piezoelectric, optical, and nanomechanical biosensors.

Based on the Application, the biosensors market is segmented into medical, environmental, food, and other applications.

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Product Segmentation

Based on the product, the biosensors market is divided into two categories: wearable biosensors and non-wearable biosensors. Because of its uses in healthcare, sports, and wellness, the wearable biosensors segment dominates the market.

Regional Growth Dynamics

Based on the region, the global biosensors market is segmented into North America, Europe, Latin America, and the Middle East & Africa. North America dominates the biosensors market with the largest revenue share because of the rapid technological adoption, growth in the prevalence of targeted diseases, and the presence of major market players.

Competitive Landscape

The top companies in the global biosensors market are:

• Abbott Laboratories Inc.
• SD Biosensor, INC.
• VitalConnect
• Medtronic plc
• F. Hoffman-La Roche Ltd.
• Bio-Rad Laboratories Inc.
• Biosensors International Group, Ltd.
• Pinnacle Technologies Inc.
• Siemens Healthcare GmbH
• Koninklijke Philips N.V
• QTL Biodetection LLC

The market for biosensors is moderately competitive, with several multinational companies involved. Key players emphasize R&D and introduce new products to increase their portfolio and market share.

Recent Developments:

• Nix, a biosensor company that offers consumers health and wellness data, introduced the Nix Hydration Biosensor in December 2022. It is the first consumer biosensor to measure perspiration and provide personalized hydration data to endurance athletes that are scientifically validated and delivered in real-time.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Products
      1. Secondary Products 
      2. Primary Products 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
   4. Regulatory Landscape
   5. Reimbursements
5. GLOBAL BIOSENSORS MARKET – ANALYSIS & FORECAST, BY TYPE
   1. Embedded Devices 
   2. Sensor Patches
6. GLOBAL BIOSENSORS MARKET – ANALYSIS & FORECAST, BY PRODUCT
   1. Wearable Biosensors
   2. Non-Wearable Biosensors
7. GLOBAL BIOSENSORS MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY
   1. Thermal Biosensors
   2. Electrochemical Biosensors
   3. Piezoelectric Biosensors
   4. Optical Biosensors
   5. Nanomechanical Biosensors
8. GLOBAL BIOSENSORS MARKET – ANALYSIS & FORECAST, BY APPLICATION
   1. Medical Application
      1. Cholesterol Testing 
      2. Blood Glucose Monitoring
      3. Blood Gas Analyzers
      4. Pregnancy Testing
      5. Drug Discovery
      6. Infectious Disease Testing
      7. Others
   2. Environmental Application
   3. Food Application
   4. Other Application

BIOSENSORS MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market.

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• ‘Business Profile’ of Key Players

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