Global Biosensors Market Research and Forecast 2018-2023

Posted by Orion Market Research on August 3rd, 2018

Biosensors  are used for the detection of analytes (a chemical substance being analyzed). The global biosensors market is expected to grow at a CAGR of 13.8 % during 2018-2023. The major factor that is augmenting the global biosensor market is the rising number of diabetes patients and increasing application of biosensors in the medical sector. The global biosensors market is segmented into technology, application, and end users. In the technology segment, the market is bifurcated into optical sensors, piezoelectric sensors, electrochemical sensors and thermal sensors. In the application segment, the market is bifurcated into medical application, food toxicity detection, agriculture, automobile and others. In the end user segment, the market is divided into home healthcare diagnostic, point of care testing, research laboratory, food industry and others.

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Global biosensors market is divided regionally into North America, Europe, Asia Pacific and Rest of the World.  The demand for biosensors in anticipated to be the significant in North America, while APAC is expected to be the most lucrative region during the forecast period. The major reason for the growth of this region include flourishing healthcare industry in the US, rapid trials for newer medical technologies in point-of-care testing and favorable FDA approvals. North America, though, is likely to face stiff competition from APAC biosensors market, which will endure expansion that will be marginally lower than the former. Apart from that, APAC will be the fastest growing region, and also the most attractive market for global leaders in biosensor production. Steadfast penetration of health insurance facilities, intrinsic upgrading of medical systems and favorable reimbursement policies are observed to promote the growth of APAC’s biosensors market. Europe region is also expected to grow during the forecast period owing to increase in incidences of lifestyle-related disorders, urging the European consumers & medical professionals towards extensive adoption of biosensors. Europe’s biosensors market will continue to grow dynamically during the forecast period.

Browse full report at: Global Biosensors Market Research 

The key players in the global biosensors market Include Abbott Point of Care, INC., Acon Laboratories, INC., Agamatrix INC., Azur Environmental, Bayer Healthcare AG, Bio-Rad Laboratories, INC., Biosensors International PTE. LTD and others.  Partnerships, R&Ds, M&As, and product launches are the key strategies adopted in the global biosensors market.