Global bio-electronics and biosensors market size was valued at USD 11.39 billion in 2013. It is likely to be estimated over USD 25 billion by 2023.and is likely to grow at a CAGR of over 10%. Proliferating prevalence of target diseases is expected to drive industry growth over several forthcoming years.
Rising pervasiveness of diabetes accompanied by increasing need to measure and monitor blood glucose level is likely to positively impact the biosensors market demand. Proliferating technological improvisation along with increasing innovation is expected to drive the industry growth. For example, HealthPatch MD biosensors by Vital connect has received FDA approval in 2014. This patch is applied over the skin and has a capability of capturing biometric measurements.
Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/138
The bio-electronics & biosensors market can be segmented on the basis of application, technology and end-use. On the basis of application the industry can be segmented into food toxicity detection, medical applications, industrial process control and agriculture, environment. Based on technology the industry can be segregated into electrochemical biosensors, thermal biosensors, piezoelectric biosensors and optical biosensors. On the basis of end-use the industry can be segmented into point of care testing, home healthcare diagnostics, food industry and research laboratories.
As of 2013, electrochemical biosensors market was valued to be the major technology sector of the industry. Attributes such as robustness, excellent detection limits along with easy miniaturization are expected to fuel demand for these sensors. In addition, these devices play a vital role in research initiatives that involve accurate examination of contents of a organic sample.
Major application of these sensors are contributed in numerous industry sectors such as agriculture, toxicity detection, environmental, industrial process control as well as medical applications among several others. The preliminary thrust for swiftly advancing bio-electronics & biosensors technology was derived from healthcare segment. These sensors allow superior evaluation of the patient’s metabolic state. Flourishing implementation of these sensors in blood glucose monitoring devices is expected to stir the industry demand. For example, The American Diabetes Association recommends the patients suffering from insulin-dependancy type 1 diabetes disease are required to monitor blood glucose levels three to four times a day, while, insulin-reliant type 2 diabetic patients are required to monitor blood glucose levels once in a day. Thus, this is highlighting increasing requirement of blood glucose biosensor in recent times.
Optical biosensors market is projected to experience healthy growth over the forecast period. These devices are anticipated to modernize the ecological monitoring as well as untimely warning field by augmenting the capability to calculate and differentiate the environmental contaminants. This is projected to drive the industry growth for bio-electronics & biosensors market over the several upcoming years.
The Point-of-Care (POC) diagnostics market was valued at over USD 14 billion in 2015. The advent of bioelectronics market is likely to initiate a revolution in the swiftly evolving point of care testing industry. Points of care biosensor systems offer real time health monitoring and thus assist in improving patient’s health condition. Use of this equipment also aids in increasing patient’s satisfaction and also leads to lessening the patient waiting time.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/138
North America is expected to gain the dominance due to large number of application in numerous healthcare sectors is expected to boost the demand in the region. Proliferating significance of numerous serious diseases owing to unhealthy lifestyle, presences of many R&D units and increasing adoptability of sophisticated products by scientists, patients and clinicians are forecast to drive the industry growth over coming years. Asia Pacific bio-electronics and biosensors market is likely to witness significant growth owing to improving healthcare infrastructure and rapid economic growth over the forecast period.
Key industry participants occupying major bio-electronics and biosensors market share include, Abbott Point of Care, F. Hoffmann-La Roche Ltd, LifeSensors, AgaMatrix, Nova Biomedical Corporation and Siemens Healthcare. The industry is technology driven and hence, manufacturers are anticipated to continuously engage in research & development focused on development of highly developed biosensors and bio-electronics over the forecast period.
Browse Related Reports:
- BioMEMS Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development, Price Trend, Competitive Market Share & Forecast, 2016 – 2023
https://www.gminsights.com/industry-analysis/biomems-market
- Sensor Fusion Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/sensor-fusion-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact
Company Name: Global Market Insights Inc.
Contact Person: Arun Hegde
Email:Send Email
Phone: 1-302-846-7766
Address:29L Atlantic Avenu, Suite L 105
City: Ocean View
State: Delaware
Country: United States
Website: https://www.gminsights.com/industry-analysis/bio-electronics-and-biosensors-market
