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
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.
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Client’s Problem Statement
A major conductive ink producer wanted to track their potential clients in Biosensor market and wanted to benchmark the clients’ product and profile.
MnM Approach
MnM provided the client with
• Identification of biosensor manufacturers across consumer segments such as POC, Home Diagnostics, Research Lab, Food & Beverages
• Product benchmarking for identified companies
• Company specific analysis wrt activeness in the market and list of potential experts to connect within the company
Revenue Impact (RI)
Revenue Impact- This has helped client to target opportunities worth ~USD 20 billion in the said geographies.
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.
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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.
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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)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Biosensors Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Biosensors Market