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Biosensors Market by Application, Technology, Product, and Geography - Global Forecast to 2022

Biosensors Market: Global Forecast until 2022

  • April 2017
  • 184 pages
  • ID: 4838915
In this report:
Europe is likely to account for a share of ##.##% of the biosensors market in 2017; the biosensors market in this region is expected to grow at a CAGR of ##.##% during the forecast period.
North America is likely to account for a share of ##.##% of the biosensors market in 2017; the market in this region is expected to grow at a CAGR of ##.##% during the forecast period.

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"Increasing requirement for glucose monitoring for diabetic individuals worldwide is fueling the increase of the biosensors market"

The biosensors market is anticipated to grow at a compound annual growth rate (CAGR) of ~8.8 percent between 2017 and 2022 to attain ~$27.1B by 2022 from ~$16.0B in 2016. Glucose monitoring devices are gaining traction due to growing incidences and prevalence of lifestyle diseases, including diabetes, that require regular monitoring. Furthermore, the proven efficacy of such testing kits has resulted in their increasing adoption by doctors. According to International Diabetes Federation, the number of people enduring from diabetes is forecasted to grow from 415 million in 2015 to almost 642 million by 2040 global.

"Growing demand for point-of-care applications is driving the rise of the biosensors market."

The growing demand for biosensors is assigned to the availability of point-of-care testing methods. As most POC tests are in the vicinity of patient care sites, the requirement for complex infrastructure and training is low. The rise in the POC market is assigned to the advancements in biosensors technology and growing demand for fast test results. Also, increasing prevalence of infectious and lifestyle diseases, including cardiac complications and diabetes, is growing the industry demand for POC diagnostics. Appreciation among people for easy and convenient ways to get faster test results is also contributing to the increasing demand.

Also, physicians prefer POC for rapid decision-making to prescribe disease-specific drugs. On the contrary, doctors previously had to wait before starting with symptomatic treatment, as test procedures used to take a considerably longer amount of time to yield results.

"North America (NA) is the main market for biosensors."

North America continent is likely to hold the biggest share of the global biosensors market in 2017. POC diagnostics is the quickest-increasing applications for biosensors in North America (NA). The main reason behind the rise of the POC segment is the growth in addressable patient population base. According to the American Medical Association and American Medical Group Association, more than 50.0 percent Americans were living with one or more chronic disease until 2012. The number of Americans enduring from chronic diseases was around 125 billion in 2000, which is anticipated to reach around 157 billion by 2022. The baby boomer population is attesting a increase in incidences of chronic and infectious diseases, According to the US Census Bureau, the number of individuals over the age of 65 was 39.6 billion in 2009, which is anticipated to rise to 72.1 billion by 2030.

The biosensors market APAC is expected grow at an important rate between 2017 and 2022. The other main factors providing to the rise of the biosensorsmarket in Asia-Pac contain the development of healthcare systems and growing number of lifestyle diseases in the territory. Asia-Pacific is the amalgamation of some of the leading markets including China, Japan (JP), and India (IN). The increase of the biosensors market in Asia-Pac for POC applications can be accredited to the huge population base, rising investments in the healthcare market, increasing focus of top industry actors on technological improvements, and significant R&D pertaining to biosensors. In September 2017, PatientSafe Solutions garnered strategic investments of around $27.0B from EDBI. This fund was used to augment the expansion of PatientSafe's PatientTouch System, a POC mobile solution, in Asia-Pacific.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main officials in the biosensors sector. The break-up of the primary participants has been shown below.

- By Company category: Tier 1 = 35 %, Tier 2 = 45.0 percent, and Tier 3 = 20.0 percent

- By Description: C-suite executives = 35.0 percent, Directors = 25.0 percent, and Others = 40.0 percent

- By Area: North America continent = 45.0 percent, Europe (EU) = 20.0 percent, Asia-Pac = 30.0 percent, and RoW = 5.0 percent

The report also profiles the top actors in the biosensors market and analyzes their market ranking. The main players decribed in this business report are Abbott Point of Care Inc., Medtronic, Incorporated, F. Hoffman-La Roche Ltd., Siemens (SIA), LifeScan, Incorporated, LifeSensors Inc., Nova Biomedical Corp., Acon Laboratories Inc., Universal Biosensors, Pharmaco-Kinesis Corporation, Bayer Healthcare AG, Biacore, Bio-Rad Laboratories Inc., Biosensors International Ltd., Ercon, Incorporated, E.I. du Pont de Nemours et compagnie (NYSE:DD, and Sysmex Corporation.

Segment Research

This market research classifies the biosensors market based on application, technology, product, and area. The study also offers the Porter's five forces analysis, together with a description of each of its forces and their respective impact on the biosensors market; description of main drivers, industry restraints, opportunities, and possibilities pertaining to the market; value chain study; and industry ranking analysis.

Reasons to Buy the Report

The analysis will facilitate competitors/new sector entrants in this sector in these ways:

1. This document breaks down the biosensors market comprehensively and offers the closest industry size estimation for all sub-segments across different areas.

2. The market research will facilitate partners distinguish the pulse of the sector and offer them with the info on key market drivers, market restraints, opportunities, and alternatives for the biosensors market.

3. This industry report will facilitate partners comprehend their players better and acquire additional insights to enhance their rank in the business sector. The competitive outlook section depicts competitor landscape and different strategies implemented by the companies including new product developments, alliances, and mergers and acquisitions.

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