Biosensors Market

Biosensors Market by Type (Sensor patch and embedded device), Product (Wearable and nonwearable), Technology (Electrochemical and optical), Application (POC, Home Diagnostics, Research Lab, Food & Beverages), and Geography - Global Forecast to 2024

Report Code: SE 3097 Oct, 2019, by marketsandmarkets.com
Updated date -

The overall biosensors market is expected to grow from USD 21.2 billion in 2019 to USD 31.5 billion by 2024, at a CAGR of 8.3% during the forecast period.

Biosensors Market

The growth is likely to be driven by continuous technological advancements in biosensors ecosystem, increase in the use of biosensors for nonmedical applications, lucrative growth in POC diagnostics, and rise in demand for glucose monitoring systems.

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Key Market Dynamics in Biosensors Market

Significant technological advancements in last few years

Significant efforts have been made since the last few years for advancing biosensors technology and its applications. For instance, the multianalyte determination for environmental monitoring and screening is among the advancements that have been witnessed in the biosensors ecosystem. Miniaturization has helped develop small, compact, easy-to-handle biosensors, which have changed the conventional testing scenario in medical and healthcare sectors. A few examples include compact blood glucose monitoring systems, cholesterol testing systems, and pregnancy testing systems. PoC diagnostics—another technological advancement—contribute to the overall demand for biosensors. Players in the PoC diagnostics market are increasingly focusing on technological advancements and new product developments. Product innovations and product launches are mainly focused on the development of technologically advanced, faster, and easy-to-use devices. Prevalent chronic diseases and conditions, such as heart diseases, stroke, cancer, type 2 diabetes, obesity, and arthritis, are among the most common, costly, and preventable of all health problems that are influencing consumers to adopt biosensors for the regular detection of pathogenic activities.

Slow rate of commercialization

Biosensors technology has witnessed a slow rate of commercialization in recent years due to the high price of biosensors and demand emanating only from the healthcare industry. Commercializing biosensors for nonmedical applications, such as military, biodefense, fermentation control, environment monitoring, is a challenge for industry players due to limited R&D and positive outcomes. The biosensors market is also witnessing slow commercialization, primarily due to price sensitivity; acceptance from end users; and concerns related to quality, authenticity, and reliability of the products. Only a few practical systems are currently available in the market, of which, the major share is accounted for by medical diagnostics. Glucose detecting biosensors currently enjoy the maximum sale. However, there is also a potential market for non-biomedical applications, which needs to be identified by players and promoted to end users. Another reason for slow commercialization is enzyme-based transducers used in biosensors. Enzyme-based transducers are expensive as the cost of sourcing, extraction, isolation, and purification is high. Biosensors also have certain disadvantages, such as heat sterilization not being possible because of denaturization of biological material, stability of biological material (e.g., enzyme, cell, antibody, and tissue) dependent on natural properties of the molecule that can be denaturalized under environmental conditions (pH, temperature, or ions), and cells in biosensors becoming affected by other molecules that are capable of diffusing through the membrane. These factors have led to the slow rate of commercialization.

Biosensors market for optical biosensor technology to grow at highest rate during forecast period

Optical biosensors are commonly used to analyze biomolecular interactions as these sensors can determine affinity and kinetics of a wide variety of molecular interactions in real time, without requiring a molecular tag or label. Optical sensors are used for several new applications, such as drug discovery, including target identification; ligand fishing; assay development; and quality control. The growth of these applications is helping optical sensors to grow at the highest CAGR.

 “Nonwearable biosensors market to witness highest growth rate during forecast period”

The nonwearable biosensors segment is expected to hold the larger market share during the forecast period. Nonwearable biosensors comprise biosensor devices that used mostly for nonclinical applications. They offer real-time on-site monitoring of production processes. Apart from on-site monitoring, these biosensors help the food industry in addressing challenges, such as meeting food quality guidelines, by providing analytical accuracy within complex food matrices.

“Biosensors market for point of care applications to hold largest share during forecast period”

Increasing inclination toward rapid diagnostic testing and rising private investments and venture funding to support new product developments, along with growing government support, have increased the adoption of PoC devices. PoC systems include different types of biosensors that are capable of measuring various parameters, such as heart rate and oxygen saturation, as well as changes in plasma protein profile and patterns of multiple biomarkers, along with their concentration. Cardiac markers are the most dynamic PoC applications and are expected to witness several innovations and investments over the next 5 years owing to the increasing number of people suffering from cardiovascular diseases (CVDs) and rising demand for instant diagnosis of these diseases.

Biosensors Market

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Biosensors Market in North America to account for largest share during forecast period”

PoC diagnostics is the fastest-growing application for biosensors in North America. The growth is attributed to the increase in addressable patient population. According to the American Medical Association and American Medical Group Association, more than 50% of Americans were living with one or more chronic diseases until 2012. The number of Americans suffering from chronic diseases was about 125 billion in 2000, which is expected to reach ~157 billion by 2022.

The increase in the waiver of Clinical Laboratory Improvement Amendments (CLIA) for certain PoC diagnostic devices, such as coagulation, glucose monitoring, and hematology devices, is further driving the growth of the biosensors market in North America. For instance, the number of waived tests has increased from 9 in 1988 to more than 100 in January 2012 (Source: Medical Education Resources, LLC). As a result, these tests are exempted from various lab regulations, such as mandate device validation, operator training/competency, and continuous quality management and documentation. This, in turn, eases the entry of new PoC products in the North American market.

Key Market Players

F. Hoffman-La Roche Ltd. (Switzerland), Medtronic Inc. (US), LifeScan Inc. (US), Universal Biosensors Inc. (Australia), Abbott Point of Care Inc. (US), DuPont (US), Sysmex Corporation (Japan), Pharmaco-Kinesis Corporation (PKC) (US), ACON Laboratories, Inc. (US), LifeSensors Inc. (US), Bio-Rad laboratories Inc. (US), Biacore (Sweden), Nova Biomedical Corp. (US), and Biosensors International Pte. Ltd. (US) are among the companies operating in the biosensors market.

Scope of the Report:

Report Metric

Details

Report Name

Biosensors Market

Base year

2018

Forecast period

2019–2024

Units

Value (USD)

Segments covered

Type, End User, Offerings, and Region

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

Abbott Point of Care Inc. (US), Medtronic Inc. (US), LifeScan Inc. (US), Universal Biosensors Inc. (Australia), F. Hoffman-La Roche Ltd. (Switzerland), DuPont (US), Sysmex Corporation (Japan), Bio-Rad laboratories Inc. (US), Pharmaco-Kinesis Corporation (PKC) (US), Nova Biomedical Corp. (US), ACON Laboratories, Inc. (US), LifeSensors Inc. (US), Biacore (Sweden), and Biosensors International Pte. Ltd. (US). A total of 25 major players are covered.

Biosensors Market, by Type:

  • Embedded Device
  • Sensor Patch

Biosensors Market, by Product:

  • Wearable Biosensor
  • Nonwearable Biosensor

Biosensors Market, by Technology:

  • Electrochemical Biosensor
  • Optical Biosensor
  • Piezoelectric Biosensor
  • Thermal Biosensor
  • Nanomechanical Biosensor
  • Others (ion-sensitive biosensors and resonant biosensors)

Biosensors Market, by Application:

  • Point of Care
  • Home Diagnostics
  • Research Lab
  • Biodefense
  • Environmental Monitoring
  • Food & Beverages

Biosensors Market, by Region:

  • North America
  • Europe
  • APAC
  • RoW

Medtronic, Inc. (US) is a leading developer and manufacturer of medical devices, therapies, and services used for treating heart, spinal, neurological, vascular, and diabetic conditions. It operates in 4 business segments—Minimally Invasive Therapy Group, Cardiac and Vascular Group, Restorative Therapies Group, and Diabetes Group. The company offers a wide range of products and has operations in North America, APAC, and Europe. To increase production efficiency and gain a competition edge, Medtronic, Inc. adopts mergers and acquisitions as its growth strategy. For instance, in October 2015, Medtronic, Inc. (US) acquired Twelve, Inc. (US), a medical device company that develops transcatheter mitral valve replacement devices. It was acquired by Medtronic’s Coronary & Structural Heart division.

LifeScan Inc. (US) is a subsidiary of Johnson & Johnson, which accounted for a market share of 11%, in 2015. The company offers a comprehensive range of products in the field of medical diabetes. It manufactures and markets blood glucose monitoring solutions for hospitals and consumer use.

The company adopts product launches, agreements, and partnerships as its key growth strategies. For instance, in March 2016, the company signed an agreement with WellDoc Inc. (US) to integrate LifeScan’s OneTouch Verio Flex blood glucose monitoring system and OneTouch Reveal mobile application with WellDoc’s BlueStar diabetes management platform and mobile app. In January 2015, the company launched the OneTouch Verio blood glucose monitoring system that helps people with diabetes to measure their blood glucose level.

Recent Developments

  • In February 2018, Medtronic received FDA approval for new arm indication for the Guardian(TM) Sensor 3. This enabled patients to wear the sensor on the upper arm, delivering more flexibility and enhanced performance for users, as well as improved accuracy, with a MARD of 8.7% following typical calibration methods used with the MiniMed(TM) 670G system.
  • In May 2018, Abbott announced the launch of Afinion test system (Afinion 2 analyzer) in the US. The Afinion 2 analyzer is a compact rapid, multi-assay platform that streamlines and simplifies the delivery of actionable, accurate measurements of hemoglobin A1c (HbA1c) and albumin to creatinine ratio (ACR) results at the point of care. The Afinion 2 builds on Abbott's heritage in diabetes care by empowering patients with information about their health that they can discuss with their healthcare providers.
  • In May 2017, Universal Biosensors announced that Siemens Healthineers (US) had commenced sales activities of the Xprecia Stride Coagulation Analyser, which includes stripes manufactured by UBI, in the US market.

Key questions addressed in the report

  • Where will all the developments take the industry in the mid-to-long term?
  • What are the upcoming products and technologies in the biosensors market?
  • Who are the key players and what are the strategies adopted by them?
  • What are the fastest- or highest-growing areas in the market?
  • What are the major drivers, restraints, opportunities, and challenges pertaining to the biosensors market?

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Table of Contents

1 Introduction (Page No. - 21)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
                    Figure 1 Biosensors Market Segmentation
           1.3.2 Geographic Scope
           1.3.3 Years Considered
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Research Data
            Figure 2 Biosensors Market: Process Flow of Market Size Estimation
            Figure 3 Biosensors Market: Research Design
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
            Figure 4 Data Triangulation Methodology
    2.4 Research Assumptions
            Table 1 Assumptions of the Study
    2.5 Limitations
            Table 2 Limitations for the Study

3 Executive Summary (Page No. - 32)
      Figure 5 APAC to Grow at Highest CAGR During Forecast Period
      Figure 6 Sensor Patch to Grow at Higher CAGR From 2019 to 2024
      Figure 7 Nonwearable to Hold Largest Size During 2019–2024
      Figure 8 Biosensors Market in APAC to Grow at Highest CAGR During 2019–2024

4 Premium Insight (Page No. - 36)
    4.1 Attractive Opportunities in Biosensors Market
            Figure 9 Increasing Prevalence of Diabetes Will Stimulate Growth Of Market
    4.2 Biosensors Market, By Application
            Figure 10 Food & Beverages to Grow at Highest CAGR During Forecast Period
    4.3 Biosensors Market, By Country
            Figure 11 Market in India to Grow at Highest CAGR During Forecast Period
    4.4 Biosensors Market, By Technology
            Figure 12 Optical Biosensor to Grow at Highest CAGR During Forecast Period

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
            Figure 13 Increasing use of Biosensors to Monitor Diabetic Individuals and Growing Demand for Home-Based Poc Devices To Fuel Growth of  Market
           5.2.1 Drivers
                    5.2.1.1 Emergence of Nanotechnology-Based Biosensors
                    5.2.1.2 Significant Technological Advancements in Last Few Years
                    5.2.1.3 Increasing use of Biosensors to Monitor Glucose Levels in Individuals With Diabetes
                    5.2.1.4 Increased Demand for Home-Based Poc Devices
                    5.2.1.5 Government Initiatives Toward Diagnostics
           5.2.2 Restraints
                    5.2.2.1 Slow Rate of Commercialization
                    5.2.2.2 High Cost Involved in R&D
                    5.2.2.3 Reluctance Toward Adoption of New Treatment Practices
           5.2.3 Opportunities
                    5.2.3.1 Emerging Market in Developing Countries
                    5.2.3.2 High-Growth Opportunities in Food Industry, Environmental Monitoring, and Biodefense
           5.2.4 Challenges
                    5.2.4.1 Government Regulations—Long Certification and Approval Cycles
                                Table 3 Country-Based Policy, Standards, and Guidelines
                    5.2.4.2 Pricing Pressure in Poc Market

6 Biosensors Market, By Type (Page No. - 46)
    6.1 Introduction
            Figure 14 Biosensors Market, By Type
            Table 4 Biosensors Market, By Type, 2016–2024 (USD Billion)
    6.2 Sensor Patch
           6.2.1 Assist People in Specialized Professional and Personal Activities
    6.3 Embedded Device
           6.3.1 Detect a Broad Spectrum of Biological Analytes and Show Greater Responses and Success Rates in Medical Laboratories and Food Bioanalyses

7 Biosensors Market, By Product (Page No. - 49)
    7.1 Introduction
            Figure 15 Biosensors Market, By Product
            Table 5 Market, By Product, 2016–2024 (USD Billion)
    7.2 Wearable Biosensors
           7.2.1 Wristwear
                    7.2.1.1 Capabilities of Real-Time Health and Fitness Tracking and Monitoring
           7.2.2 Eyewear
                    7.2.2.1 Smart Glasses and Smart Lenses to Have Significant Presence in the Market
           7.2.3 Footwear
                    7.2.3.1 Help in Monitoring Kilometer Run, Calories Burned, Workout Hours, Blood Pressure, and Other Fitness- and Health-Related Data
           7.2.4 Neckwear
                    7.2.4.1 Trendy Device That Can Help Monitor Fitness
           7.2.5 Bodywear
                    7.2.5.1 Potential to Equip Clothes Used for Daily Wear With Smart Capabilities, Making the Detection of Body Movements Possible
           7.2.6 Others
    7.3 Nonwearable Biosensors
           7.3.1 Offer Real-Time On-Site Monitoring of Production Processes

8 Biosensors Market, By Technology (Page No. - 53)
    8.1 Introduction
            Figure 16 Market, By Technology
            Table 6 Market, By Technology, 2016–2024 (USD Billion)
    8.2 Electrochemical Biosensors
            Figure 17 Electrochemical Biosensor Segmentation
            Table 7 Electrochemical Biosensors Market, By Technology, 2016–2024 (USD Billion)
            Table 8 Differences Between Various Electrochemical Biosensors
           8.2.1 Amperometric Sensors
                    8.2.1.1 Blood Glucose Sensors
                               8.2.1.1.1 Suitable for Medical Devices for Monitoring Blood Glucose
                                            Table 9 Glucose Sensors and Devices Approved By FDA
           8.2.2 Potentiometric Sensors
                    8.2.2.1 Immunosensors
                               8.2.2.1.1 Enable Label-Free Detection and Quantification of Immune Complex
           8.2.3 Conductometric Sensors
                    8.2.3.1 Measurement of the Change in Conductive Properties of a Sample Solution or a Medium
    8.3 Optical Biosensors
            Figure 18 Segmentation of Optical Biosensors
            Table 10 Optical Biosensors Market, By Technology, 2016–2024 (USD Billion)
           8.3.1 Spr
                    8.3.1.1 Measuring Interactions in Real-Time With High Sensitivity and Without the Need for Labels
           8.3.2 Colorimetric Biosensors
                    8.3.2.1 Use of Calorimetric Biosensors in Various Applications, Such as in the Detection and Identification of Virulence Activity
           8.3.3 Fluorescence Biosensors
                    8.3.3.1 Better Sensitivities and Specificities, as Well as Ease of Labeling, While Detection
    8.4 Piezoelectric Biosensors
            Figure 19 Segmentation of Piezoelectric Biosensor
           8.4.1 Acoustic Biosensors
                    8.4.1.1 Monitors the Change in the Physical Properties of an Acoustic Wave in Response to Measurand
           8.4.2 Microcantilever Biosensors
                    8.4.2.1 a Promising Tool for Detecting Biomolecular Interactions With Improved Accuracy
    8.5 Thermal Biosensors
           8.5.1 Do Not Require Frequent Recalibration and are Insensitive to the Optical and Electrochemical Properties of the Sample the Sample
    8.6 Nanomechanical Biosensors
           8.6.1 Ability to Perform Rapid, Sensitive, and Selective Detection of Biological and Biochemical Entities
    8.7 Others

9 Biosensors Market, By Application (Page No. - 65)
    9.1 Introduction
            Figure 20 Market, By Application
            Table 11 Market, By Application, 2016–2024 (USD Billion)
    9.2 POC 
            Table 12  Market, By POC Application, 2016–2024 (USD Million)
            Table 13 Market for POC Applications, By Region, 2016–2024 (USD Billion)
           9.2.1 Glucose Monitoring
                    9.2.1.1 The Rising Prevalence of Diabetes Worldwide, Technological Advancements in Self-Monitoring of Blood Glucose, and Growing Awareness About Poc Testing
                                Table 14 Glucose Monitoring Biosensors Market for Poc Applications, By Region, 2016–2024 (USD Billion)
           9.2.2 Cardiac Marker
                    9.2.2.1 Sedentary Urban Lifestyles Causing Increase in Cardiovascular Diseases
                                Table 15 Market for Cardiac Markers, By Region, 2016–2024 (USD Million)
           9.2.3 Infectious Disease Detection
                    9.2.3.1 Detection of Toxins, Bacteria, and Viruses in a Variety of Physiological and Environmental Matrices.
                                Table 16 Market for Infectious Disease Detection, By Region, 2016–2024 (USD Million)
           9.2.4 Coagulation Monitoring
                    9.2.4.1 Growing use of Anticoagulant Therapy, Coupled With the Adoption of Self-Testing Kits for use at Home
                                Table 17 Market for Coagulation Monitoring, By Region, 2016–2024 (USD Million)
           9.2.5 Pregnancy Testing
                    9.2.5.1 Growing Preference of Women for Confidentiality and Accessibility of Test Results
                                Table 18 Market for Pregnancy Testing, By Region, 2016–2024 (USD Million)
           9.2.6 Blood Gas & Electrolyte Detection
                    9.2.6.1 Increasing Global Aging Population is Significantly Driving the Growth of the Market
                                Table 19 Market for Blood Gas & Electrolyte Detection, By Region, 2016–2024 (USD Million)
           9.2.7 Tumor or Cancer Marker
                    9.2.7.1 Increasing Number of People Suffering From Cancer and Growth in Investments in Cancer Research
                                Table 20 Market for Poc Applications of Tumor or Cancer Marker, By Region, 2016–2024 (USD Million)
           9.2.8 Urinalysis Testing
                    9.2.8.1 Rising Number of Urinary Tract Infections Among Individuals
                                Table 21 Market for Poc Applications of Urinalysis Testing, By Region, 2016–2024 (USD Million)
           9.2.9 Cholesterol Testing
                    9.2.9.1 Increasing Prevalence of CVDS Due to Aging and Obese Population
                                Table 22 Market for Poc Applications of Cholesterol Testing, By Region, 2016–2024 (USD Million)
    9.3 Home Diagnostics
             Table 23 Market for Home Diagnostics, By Application, 2016–2024 (USD Million)
             Table 24 Market for Home Diagnostics, By Region, 2016–2024 (USD Billion)
           9.3.1 Glucose Monitoring
                    9.3.1.1 Growing Preference for Self-Monitoring Blood Glucose Devices
                                Table 25 Glucose Monitoring Biosensors Market for Home Diagnostics, By Region, 2016–2024 (USD Billion)
           9.3.2 Pregnancy Testing
                    9.3.2.1 Need of Portable and User Friendly Pregnancy Testing Devices
                                 Table 26 Market for Home Diagnostics for Pregnancy & Fertility Testing, By Region, 2016–2024 (USD Million)
           9.3.3 Cholesterol Testing
                    9.3.3.1 Growth of Diseases Due to Increased Cholesterol Levels in Individuals
                                Table 27 Market for Home Diagnostics for Cholesterol Testing, By Region, 2016–2024 (USD Million)
    9.4 Research Lab
           9.4.1 Need of Biosensors Based Product Development for Early Monitoring of Diseases
                     Table 28 Market for Research Lab, By Region, 2016–2024 (USD Billion)
    9.5 Biodefense
           9.5.1 Use of Biosensors to Detect Microbial Pathogens During Biological Warfare
                    Table 29 Market for Biodefense, By Region, 2016–2024 (USD Million)
    9.6 Environmental Monitoring
           9.6.1 Detection of Contaminants in Complex Matrices With Several Advantages Helping to Grow the Market
                    Table 30 Market for Environmental Monitoring, By Region, 2016–2024 (USD Billion)
    9.7 Food & Beverages
           9.7.1 Biosensors Used for Pathogen Detection and Helping to Meet the Ngent Food Standards
                    Table 31 Enzyme Biosensor for Detecting Organic Compounds in Food
                    Table 32 Market for Food & Beverages, By Region, 2016–2024 (USD Million)

10 Geographic Analysis (Page No. - 82)
     10.1 Introduction
              Figure 21 Geographic Snapshot of Biosensors Market (2018)
              Figure 22 APAC to Grow at Highest CAGR During Forecast Period
              Table 33 Market, By Region, 2016–2024 (USD Billion)
     10.2 North America
              Figure 23 North America: Snapshot of Biosensors Market
              Table 34 Market in North America, By Poc Application, 2016–2024 (USD Million)
              Figure 24 US to Hold Largest Size of Market During Forecast Period
              Table 35 Market for Poc Applications in North America, By Country, 2016–2024 (USD Million)
              Table 36 Market in North America, By Home Diagnostics Applications, 2016–2024 (USD Million)
              Table 37 Market for Home Diagnostics Applications in North America, By Country, 2016–2024 (USD Million)
              Figure 25 Canada to Grow at Highest CAGR During Forecast Period
              Table 38 Market for Research Lab in North America, By Country, 2016–2024 (USD Million)
              Table 39 Market for Biodefense in North America, By Country, 2016–2024 (USD Million)
              Table 40 Market for Environmental Monitoring in North America, By Country, 2016–2024 (USD Million)
              Table 41 Market for Food & Beverages in North America, By Country, 2016–2024 (USD Million)
             10.2.1 US
                       10.2.1.1 Presence of Key Players That Offer Biosensor-Based Poc Applications in US
                                    Figure 26 Biodefense to Grow at Highest CAGR During Forecast Period
                                    Table 42 Market in US, By Application, 2016–2024 (USD Billion)
             10.2.2 Canada
                       10.2.2.1 Increasing Government Support Likely to Escalate Growth of Market in Canada
                                    Table 43 Market in Canada, By Application, 2016–2024 (USD Million)
             10.2.3 Mexico
                       10.2.3.1 Use of Biosensors to Detect Cardiovascular Disorders Propels Market Growth in Mexico
                                    Table 44 Market in Mexico, By Application, 2016–2024 (USD Million)
     10.3 Europe
             Figure 27 Europe: Snapshot of Biosensors Market
             Table 45 Market in Europe, By Poc Application, 2016–2024 (USD Million)
             Table 46 Market for Poc Applications in Europe, By Country, 2016–2024 (USD Million)
             Table 47 Market in Europe, By Home Diagnostics Application, 2016–2024 (USD Million)
             Table 48 Market in Europe for Home Diagnostics Applications, By Country, 2016–2024 (USD Million)
             Figure 28 Germany to Hold Largest Size of  Market for Research Lab in 2019
             Table 49 Market in Europe for Research Lab, By Country, 2016–2024 (USD Million)
             Table 50 Biosensors Market in Europe for Biodefense, By Country, 2016–2024 (USD Million)
             Table 51 Market in Europe for Environmental Monitoring, By Country, 2016–2024 (USD Million)
             Figure 29 Italy to Grow at Highest CAGR During Forecast Period
             Table 52 Market in Europe for Food & Beverages, By Country, 2016–2024 (USD Million)
             10.3.1 Germany
                       10.3.1.1 Monitoring of Chronic Diseases to Escalate Biosensors Market in Germany
                                    Table 53 Market in Germany, By Application, 2016–2024 (USD Million)
             10.3.2 France
                       10.3.2.1 Technology Advancements in Healthcare Systems Drive the Growth of Market in France
                                    Table 54 Market in France, By Application, 2016–2024 (USD Million)
             10.3.3 UK
                       10.3.3.1 Rising Cardiac Diseases and Aging Population are Factors Driving Market Growth in UK
                                    Figure 30 Poc Application to Hold Largest Size in UK in 2019
                                    Table 55 Market in UK, By Application, 2016–2024 (USD Million)
             10.3.4 Italy
                       10.3.4.1 Growing Private Sector Results in Increasing Demand for Biosensors for Various Applications
                                    Table 56 Market in Italy, By Application, 2016–2024 (USD Million)
             10.3.5 Spain
                       10.3.5.1 Increasing Diseases Resulted in Constant Monitoring of Health, Leading to Growth of Market in Spain
                                    Figure 31 Biodefense Application in Spain to Grow at Highest CAGR During Forecast Period
                                    Table 57 Market in Spain, By Application, 2016–2024 (USD Million)
             10.3.6 RoE
                       Table 58 Biosensors Market in RoE, By Application, 2016–2024 (USD Million)
     10.4 APAC
              Figure 32 APAC: Snapshot of Biosensors Market
              Table 59 Market in APAC, By Poc Application, 2016–2024 (USD Million)
              Table 60 Market in APAC for Poc Applications, By Country, 2016–2024 (USD Billion)
              Table 61 Market in APAC, By Home Diagnostics Application, 2016–2024 (USD Million)
              Table 62 Market in APAC for Home Diagnostics Applications, By Country, 2016–2024 (USD Billion)
              Figure 33 China to Dominate Biosensors Market for Research Lab During Forecast Period
              Table 63 Market in APAC for Research Lab, By Country, 2016–2024 (USD Million)
              Table 64 Market in APAC for Biodefense Applications, By Country, 2016–2024 (USD Million)
              Table 65 Market in APAC for Environmental Monitoring, By Country, 2016–2024 (USD Million)
              Table 66 Market in APAC for Food & Beverages, By Country, 2016–2024 (USD Billion)
             10.4.1 Japan
                       10.4.1.1 Increase in Standard of Living, Rise in Health Awareness, Surge in Aging Population are Key Factors Driving Growth of Market in Japan
                                    Table 67 Market in Japan, By Application, 2016–2024 (USD Million)
             10.4.2 China
                       10.4.2.1 Government Initiatives Toward Creating Better Healthcare Products and Services Likely to Propel Biosensors Market Growth in China
                                    Table 68 Market in China, By Application, 2016–2024 (USD Million)
             10.4.3 India
                       10.4.3.1 Growing Population in India Escalates Demand for Biosensors for Healthcare Services
                                    Figure 34 Food & Beverages to Grow at Highest CAGR in India During Forecast Period
                                    Table 69 Market in India, By Application, 2016–2024 (USD Million)
             10.4.4 RoAPAC
                        Table 70 Market in RoAPAC, By Application, 2016–2024 (USD Million)
     10.5 RoW
                        Table 71 Market in RoW, By Application, 2016–2024 (USD Billion)

11 Competitive Landscape (Page No. - 117)
     11.1 Overview
     11.2 Market Ranking Analysis
              Table 72 Market Ranking Analysis – Biosensors Market (2017)
     11.3 Competitive Leadership Mapping
             11.3.1 Visionary Leaders
             11.3.2 Dynamic Differentiators
             11.3.3 Innovators
             11.3.4 Emerging Companies
                        Figure 35 Competitive Leadership Mapping (Global) Biosensors Market, 2018
     11.4 Competitive Benchmarking
             11.4.1 Strength of Product Portfolio
             11.4.2 Business Strategy Excellence
     11.5 Competitive Scenario
             11.5.1 Product Launches
                       Table 73 Product Launch (2016–2018)
             11.5.2 Joint Ventures, Partnerships, and Collaborations
                       Table 74 Joint Venture, Partnership, and Collaboration (2016–2018)
             11.5.3 Acquisitions, Agreements, and Expansions
                       Table 75 Acquisition, Agreement, and Expansion (2015–2018)

12 Company Profiles (Page No. - 127)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Introduction
     12.2 Key Players
             12.2.1 Abbott Laboratories Inc.
                        Figure 36 Abbott Laboratories, Inc.: Company Snapshot
             12.2.2 F. Hoffman-La Roche
                        Figure 37 F. Hoffman-La Roche : Company Snapshot
             12.2.3 Medtronic
                        Figure 38 Medtronic: Company Snapshot
             12.2.4 Universal Biosensors
                        Figure 39 Universal Biosensors: Company Snapshot
             12.2.5 Siemens AG
                        Figure 40 Siemens AG: Company Snapshot
             12.2.6 LifeScan
             12.2.7 Bayer Healthcare AG
                        Figure 41 Bayer Healthcare AG: Company Snapshot
             12.2.8 Bio-Rad Laboratories, Inc.
                        Figure 42 Bio-Rad Laboratories: Company Snapshot
             12.2.9 Dowdupont Inc.
                        Figure 43 Dowdupont Inc.: Company Snapshot
             12.2.10 Sysmex Corporation
                        Figure 44 Sysmex Corporation: Company Snapshot
             12.2.11 Biacore
             12.2.12 Biosensors International Pte. Ltd.
             12.2.13 Ercon Inc.
             12.2.14 LifeSensors
             12.2.15 Nova Biomedical
             12.2.16 ACON Laboratories, Inc.
             12.2.17 Pharmaco-Kinesis Corporation
     12.3 Other Companies
             12.3.1 Neurosky, Inc.
             12.3.2 Graphene Frontiers
             12.3.3 Hmicro Inc.
             12.3.4 Xsensio SA
             12.3.5 Innovative Sensor Technology IST AG
             12.3.6 Eastprint Incorporated
             12.3.7 Pinnacle Technology
             12.3.8 Oxirate

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 179)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Available Customizations
     13.5 Related Reports
     13.6 Author Details

The study involves 4 major activities to estimate the current market for biosensors. Exhaustive secondary research has been conducted to collect information on the market, peer market, and parent market. Validation of these findings and assumptions with industry experts across the value chain through primary research has been the next step. Top-down and bottom-up approaches have been employed to estimate the complete market size. After that, market breakdown and data triangulation procedures have been used to estimate the market size of each segment and subsegment.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet have been referred to for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The biosensors market comprises several stakeholders such as raw material suppliers; electronic design automation (EDA) and design tool vendors; original equipment manufacturers (OEMs); integrated device manufacturers (IDMs); original design manufacturers (ODMs); ODM and OEM technology solution providers; assembling, testing, and packaging vendors; technology, service, and solution providers. The demand side of this market is characterized by various applications, such as PoC, home diagnostics, biodefense, research lab, and environmental monitoring, food & beverages. The supply side is characterized by component suppliers, system integrators, and end-to-end solution providers. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is as follows.

Biosensors Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the biosensors market. These methods have been also used extensively to estimate the size of various subsegments in the market. Following is the method to estimate the market size:

  • Major players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the estimation processes as explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To describe and forecast the biosensors market, in terms of value, by type, product, technology, and application
  • To describe and forecast the biosensors market, in terms of value, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall biosensors market
  • To analyze opportunities for stakeholders in the biosensors market by identifying the high-growth segments
  • To profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
  • To analyze competitive developments such as mergers and acquisitions, expansions, product and service launches, partnerships, contracts, and agreements in the biosensors market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
SE 3097
Published ON
Oct, 2019
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