Reliability and multiple-functionality of bio-sensing product is providing addressable market for biosensors across the globe: Healthcare is the biggest and prominent sector for the global biosensor market. Innovative technology in bioscience and medical industry is generating lucrative business opportunities for biosensor across the globe. Inclination of people towards healthy lifestyle is raising the adoption rate of wearable devices. Reliability, accurate result and remote monitoring are boosting the global biosensors market.
Global biosensors market is segmented on the basis of technology such as electrochemical, optical, thermal, piezoelectric and other biosensors. Among these segments, optical biosensors are cost effective and highly sensitive which helps in providing accurate and faster testing especially in cardiovascular diseases. Increasing R&D investment in pharmaceuticals and biomedical industry for optical biosensors application is expected to increase the market share of optical biosensors during the time period of 2016 to 2024.
The global point of care testing (POCT) devices market is expected to reach USD 1.3 trillion by the end of 2024. With the application of point of care (POC) biosensor systems, real-time health monitoring facilities and quality patient care can be delivered mainly in chronic health conditions of patients. Increasing the patient satisfaction rate due to reduction in waiting time and hospital admissions are likely to bolster the point of care biosensor market during the forecast period.
Geographically, Asia-Pacific is expected to witness significant growth rate due to rising geriatric population in countries such as China and Japan. Huge investment in improving medical facilities and healthcare infrastructure by government is expected to boost the growth of Asia-Pacific biosensors market.
Wearable and Implantable Biosensors: Next Generation Innovation
Wearables have promising future across the globe on the back of advancement in biosensors. More than 100 start ups are venturing into enabling the platforms for wearable. Wearables have potential to improve in health condition and continuous monitoring in chronic health conditions. Activity tracker patches & tattoos and smart implants & ingestibles are some of biosensing wearable products. Activity tracker has gained 2% rise in penetration rate in U.S. and is expected to witness significant growth over the forecast period.
“Global Biosensors Market Outlook 2024” contains detailed overview of the global biosensors market in terms of market segmentation by component type and by application type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
This market report also includes provides competitive outlook of some of the major players of the global biosensors market which includes profiling of companies Medtronic Inc., Siemens Healthcare, GE Healthcare, Innovative Biosensors Inc., Bio-Rad Laboratories Inc.etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global biosensors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.