Dublin, May 21, 2021 (GLOBE NEWSWIRE) -- The "Biosensors Market Size, Share & Trends Analysis Report by Application by Technology, by End-use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global biosensors market size is anticipated to reach USD 41.8 billion by 2028 and is expected to expand at a CAGR of 7.9% from 2021 to 2028.
The rising prevalence of chronic conditions such as diabetes and obesity and the growing demand for early and accurate detection of any associated condition are the key driving factors for the market.
Furthermore, the outbreak of COVID-19 has drastically spurred the demand for point-of-care testing devices. FDA is giving fast-track approvals to the companies owing to the shortage of these devices globally.
For instance, in May 2020, Philips secured 510k FDA clearance for its wearable biosensor, which helps in managing confirmed and suspected cases of COVID-19 in hospitals, promoting biosensors technology and product development.
Moreover, rapid technological advancements are expected to be a significant factor for market growth over the forecast period. For instance, in June 2020, Abbott received the U.S. FDA clearance for its next-generation, integrated glucose monitor system- FreeStyle Libre 2 intended to measure diabetes in individuals aged 4 years and above and has an optional real-time alarm.
Biosensors Market Report Highlights
On the basis of application, the medical segment dominated the market in 2020 with a revenue share of 66.6%. The device is considered an essential tool in the detection and monitoring of a wide range of medical conditions, such as diabetes and cancer.
Based on technology, the electrochemical segment dominated the market in 2020 with a revenue share of 70.9% owing to its widespread applications for analysis in biochemical and biological processes.
The home healthcare diagnostics segment is expected to witness the fastest growth rate over the forecast period owing to the high prevalence of chronic disease globally.
North America dominated the market in 2020 with a revenue share of 39.9% owing to the presence of a highly developed healthcare infrastructure and favorable reimbursement policies in this region.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Biosensors Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 List Of Key End Users
3.4 Market Dynamics
3.4.1 Market Driver Analysis
22.214.171.124 Myriad Applications In The Medical Field
126.96.36.199 Rising Diabetic Population Base
188.8.131.52 High Demand For Miniature Diagnostic Devices
184.108.40.206 Rapid Technological Advancements
3.4.2 Market Restraints Analysis
220.127.116.11 High cost of R&D
18.104.22.168 Unfavorable reimbursement policies of the Government
3.5 Biosensors: Market Analysis Tools
3.5.1 Industry Analysis - Porter's
3.5.2 Pestle Analysis
3.5.3 Major Deals And Strategic Alliances
22.214.171.124 New Product Launch
3.5.4 Market Entry Strategies
Chapter 4 Biosensors Market: Segment Analysis, By Technology, 2016 - 2028 (USD Million)
4.1 Definition and Scope
4.2 Technology Market Share Analysis, 2020 & 2028
4.3 Segment Dashboard
4.4 Global Biosensors Market, By Technology, 2016 to 2028
4.5 Market Size & Forecasts and Trend Analyses, 2016 to 2028
Chapter 5 Biosensors Market: Segment Analysis, By Application, 2016 - 2028 (USD Million)
5.1 Definition and Scope
5.2 Application Market Share Analysis, 2020 & 2028
5.3 Segment Dashboard
5.4 Global Biosensors Market, By Application, 2016 to 2028
5.5 Market Size & Forecasts and Trend Analysis, 2016 to 2028
5.5.2 Food toxicity
Chapter 6 Biosensors Market: Segment Analysis, By End Use, 2016 - 2028 (USD Million)
6.1 Definition and Scope
6.2 End-use Market Share Analysis, 2020 & 2028
6.3 Segment Dashboard
6.4 Global Biosensors Market, By End Use, 2016 to 2028
6.5 Market Size & Forecasts and Trend Analyses, 2016 to 2028
6.6.1 Home healthcare diagnostics
6.6.2 POC testing
6.6.3 Food Industry
6.6.4 Research Laboratories
6.6.5 Security and Biodefense
Chapter 7 Biosensors Market: Regional Market Analysis, By Technology, Application, End-use, 2016 - 2028 (USD Million)
Chapter 8 Biosensors Market - Competitive Analysis
Cranfield Biotechnology Centre
Pinnacle Technologies Inc.
Dupont Biosensor Materials
Eg & Ic Sensors Inc.
Johnson & Johnson Inc.
Innovative Biosensors Inc.
Strategic Diagnostics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pljopa
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