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Biosensors Market worth $22.68 Billion by 2020
According to a new market research report “Biosensors Market by Application (Point of Care, Home Diagnostics, Research Labs, Biodefense, Environmental Monitoring, Food Industry), Product (Wearable, Non-Wearable), Technology (Electrochemical, Piezoelectric, Optical) & Geography - Analysis & Forecast to 2020” , the total market was valued at $11.39 billion in 2013 and is expected to reach $22.68 billion by 2020, at an estimated CAGR of 10.00% from 2014 to 2020.
Browse 73 market data tables and 77 figures spread through 191 pages and in-depth TOC on “Biosensors Market - Analysis & Forecast to 2020”
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The biosensors industry has witnessed significant technological developments over the last few years. Various studies have been carried out for incorporating the biosensors technology into various clinical and non-clinical applications ranging from medical, biodefense, environment monitoring, and food industry. The increase in demand of point-of-care diagnostics devices, growing prevalence of diabetes, aging population, and need to improve the current healthcare infrastructure are the key drivers propelling the growth of the market. Thismarket in the report has been categorized by products, namely wearable biosensors and non-wearable biosensors. The wearable biosensors hold the maximum share of 80% of the total biosensors market as of 2013.
The report also covers the key application sectors of the biosensors market, which include POC, home diagnostics, research labs, biodefense, environmental monitoring, and food industry. Among all the applications, the POC diagnostics is expected to be the largest contributor to the overall biosensors market, holding ~57% share.
The biosensors market for different geographic regions, including North America, Europe, Asia-Pacific, and the Rest of the World (RoW), has also been covered in the report. North America was the largest market for biosensors as of 2013. APAC has been the most promising market for biosensors over the forecast period and is expected to grow at the highest CAGR among all the regions.
The report profiles the promising major players with a SWOT analysis of the key players in the biosensors market. The market witnesses a series of new product launch announcements and partnerships across the value chain. The key players in this industry include F. Hoffmann-La Roche Ltd. (Switzerland), LifeScan Inc. (U.S.), Bayer Healthcare AG (Germany), Abbott Point of Care Inc. (U.S.), Medtronic (U.S.), Siemens Healthcare (Germany), and others.
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