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Biosensors have emerged as the most potential analytical tools used for the detection of an analyte with the help of a physiochemical detector. Although traditional laboratory techniques can yield accurate measurements, these are extremely time- consuming, complex, expensive, and require pre-treatment of the biological sample. Biosensor-based devices provide rapid, on-site and real-time monitoring without the need for sample preparation. The increasing applications of biosensors across various fields such as drug development, medical diagnosis, food safety and environmental monitoring is driving the growth of the global biosensors market. Recent improvements in biosensor instrumentation and increasing applications of nanotechnology are the other factors contributing to the growth of the biosensors market.
Based on technology, the biosensors market has been segmented into electrochemical, optical, thermal and piezoelectric biosensors. Electrochemical biosensors accounted for the largest share of over 70% of the global biosensors market in 2013. The segment is expected to maintain its leading position during the forecast period from 2014 to 2020. Factors that have contributed toward the high market share of the electrochemical biosensors segment are the increasing applications for the detection and early diagnosis of several diseases such as diabetes and tuberculosis. Additionally, electrochemical biosensors have emerged enormously among the researchers due to high demand from the global market for the analysis of contents of a biological sample. The optical biosensors segment is estimated to grow at a CAGR of over 8%. The major driving factors for such impressive growth are increasing research in biomedical applications and pharmaceuticals; and high sensitivity, small size and cost-effectiveness of the optical biosensors. Based on applications, the biosensors market has been segmented into medical devices and diagnostics, pharmaceuticals, food and beverage, and environment. The medical application segment held the largest share of over 65% in the global biosensors market in 2013. The factors fueling the growth of the segment are high prevalence of chronic diseases across the globe and growing preference of the population for self-monitoring. Furthermore, biosensor-based diagnostic devices are a powerful alternative to conventional analytical techniques due to rapid measurement and response time. This factor further propels the growth of the medical devices and diagnostics segment. Based on end users, the point of care testing segment accounted for the largest market share owing to various factors such as better quality service, reduction patient waiting time and greater patient satisfaction.
Geographically, North America constituted the largest market for biosensors. Factors that have augmented the growth of the biosensors market in North America are vast presence of pharmaceutical research and development units, increasing prevalence of life-threatening diseases and better healthcare infrastructure. Furthermore, technological developments in the field of medical diagnostics and increasing awareness among the general population are boosting the demand for biosensors in North America. However, Asia Pacific is projected to witness the highest growth rate during the forecast period. Factors such as the large population, increasing initiatives taken by the government to promote healthcare and robust economic growth have been attributed to the high growth rate in the region. Moreover, higher consumer awareness about heath issues, environmental hazards and food toxicity would drive the growth of the biosensors market in the next few years.
Currently, the global biosensors market is consolidated due to the involvement of few top organizations. Several emerging biopharmaceutical companies are expected to foresee great development in the field of biosensors monitoring devices. Major players operating in the biosensors market are Abbott Point of Care, Inc., Medtronic, Inc., LifeScan, Inc., F. Hoffmann-La Roche Ltd., AgaMatrix, Inc., Animas Corporation, LifeSensors, Inc., Siemens Healthcare and Nova Biomedical Corporation.

Advances in Synthetic Biology to Pave Way to New Product Designs in Biosensors Market

Biosensors are expanding the scope of high-throughput screening based on advances in synthetic or systems biology. They consist of biological components that can detect the presence of a target ligand and consequently transducing a signal. Organic and inorganic contaminants comprise the compounds biosensors are employed to detect in the ecosystem. The biosensors market is gaining valuation from the massive prospective use in applications of food industry, environmental monitoring, and disease diagnosis. In particular, biosensors have been widely used in detecting organic contaminants in the environment, such as the detection of tumorigenic and carcinogenic ones in air, water, food, and soil. Strides in synthetic biology have allowed the engineering of novel biosensors with remarkable specificity and sensitivity. Key arenas that have been witness to innovative product designs in the biosensors market are in protein engineering, molecular biology, and nanotechnology. Over the years, the array of applications of biosensors have only expanded. Rise in application in the food industry for quality assurance is a key accelerant for growth of revenues in the market.  Application for point-of-use diagnostics is another rapidly emerging lucrative area. Industry interest in point-of-use diagnostic biosensors has picked pace. The reason for this has to do with the advantages over real-time PCR-based techniques, with regard to ease of implementation and reduced diagnostic time.

The high morbidity of novel human coronavirus 2019, COVID-19 or SARS-CoV-2, has led to a pressing need for dramatically improving currently available diagnostic methods. This has opened a new frontier in biosensor market. Given the fact that the pandemic has been declared a Public Health Emergency of International Concern (PHEIC) by the WHO, research into novel diagnostic technologies based on biosensors attract massive interest among healthcare systems. Advancements in biological receptors and transducers are boosting the developments. Further, new avenues for product developments will gain momentum due to continuous progress in nanotechnology and genetic engineering. Such advances will likely lead to the development of more effective and diverse biosensors.

This report on the biosensors market studies the current as well as future prospects of the market globally. Biosensors are rapidly gaining popularity in the global market due to its wide array of applications in the fields of medical diagnostics, pharmaceuticals, food industry, bio-defense, and industrial processes. The largest application for biosensors since their origin continues to be blood glucose monitors. However, the market is now demonstrating a paradigm shift towards various other applications such as infectious disease monitoring, blood gas analyses, cholesterol testing, pregnancy testing and non-medical applications such as industrial biology, food toxicity detection and military services. Biosensors are now also being positioned for cancer detection and personalized medicine due to its accurate detection of specific biological analyte and reliable imaging of cancer cells. This report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the biosensors market. It also provides information and data analysis of the global biosensors market with respect to market segments based on the type of biosensor technology, applications, end users and their geographic markets. 
Based on technology, the biosensors market is segmented into four major segments: electrochemical, optical, piezoelectric and thermal. Similarly, based on application, the market has been segmented into medical, food toxicity detection, industrial process control, agriculture, environment and others (bio-defense, drug abuse prevention). The biosensors market has also been segmented on the basis of end users which includes point of care testing, home healthcare diagnostics, research laboratories, security and bio-defense, and food industry. The market segments have been extensively analyzed based on their usefulness, efficacy, revenue and geographic coverage. The market size and forecast in terms of USD million for each market segment has been provided for the period from 2012 to 2020. The report also provides the compounded annual growth rate (CAGR %) for each market segment for the forecast period from 2014 to 2020, considering 2013 as the base year.
Geographically, the biosensors market has been categorized into four regions: North America, Europe, Asia Pacific, and Rest of the World (RoW). The market size and forecast for each of these regions has been provided for the period from 2012 to 2020, along with their respective CAGRs for the forecast period from 2014 to 2020, considering 2013 as the base year. The research study also incorporates the competitive scenario in these regions. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of the market and future opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, Porter’s five forces analysis and the key players’ market share analysis in 2013 in order to present a thorough analysis of the overall competitive scenario in the global biosensors market. 
A list of recommendations has been provided for new entrants as well as existing market players to assist them in taking strategic initiatives to establish a strong presence in the market and thereby establish a foothold. The report also profiles major players of the biosensors market on the basis of various attributes such as company overview, financial overview, business strategies, product portfolio and recent developments. Major players profiled in this report include Abbott Point of Care, Inc., Medtronic, Inc., LifeScan, Inc., F. Hoffmann-La Roche Ltd., AgaMatrix, Inc., Animas Corporation, LifeSensors, Inc., Siemens Healthcare and Nova Biomedical Corporation.

The global biosensors market is segmented as follows:

Biosensors Market, by Technologies
  • Electrochemical
  • Optical
  • Thermal
  • Piezoelectric
Biosensors Market, by Applications
  • Medical 
  • Food Toxicity Detection
  • Industrial Process Control
  • Agriculture
  • Environment
  • Others (Bio-defense, drug abuse prevention etc.)
Biosensors Market, by End Users
  • Point of Care Testing
  • Home Healthcare Diagnostics
  • Research Laboratories
  • Security and Bio-defense
  • Food Industry
Biosensors Market, by Geography
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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Biosensors Market

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