Biosensors Market share worth $29.6bn by 2024

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Biosensors Market Analysis by Technology by
End-User, 2016 - 2024 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights of Biosensors Market

• The Biosensors Market size is predominantly
  influenced by rising demand for disposable,
  cost-efficient, and user-friendly devices.
• Owing to an interdisciplinary combination of
  approaches from medical science, chemistry, and
  nanotechnology, biosensors have paved their way
  rapidly in the medical field. Moreover, the use
  of these devices in the point of care testing,
  laboratories, and for self-testing should spur
  the industry growth.
• New discoveries in the field of medical science,
  government support, rising demand for point of
  care testing, and the global occurrence of
  chronic conditions like diabetes along with rapid
  accurate detection of such conditions is
  anticipated to boost the demand for biosensors
  market over the coming years.
• The industry growth is expected to further
  receive a boost owing to the user-friendly as
  well as cost-effective nature of these biosensor
  devices. As per the reports of the international
  diabetes federation, the number of patients
  suffering from diabetes globally was 366 million
  in 2011 and the figure is predicted to touch 552
  million by 2030.

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Continued

• Biosensors find major application in medical
  segment accounting for nearly 66 of the total
  revenue of the biosensors market. The largest
  revenue share can be credited to wide use of
  biosensors in medical sector.
• Various technologies used in biosensors industry
  include optical biosensor, electrochemical
  biosensor, piezoelectric biosensor, and thermal
  biosensor technologies. The optical biosensor
  technology segment is predicted to grow rapidly
  at a rate of 8.7 over the period of 2016-2024.
• Biosensors finds its end-use applications in
  Biodefense, Home healthcare, Food industry, Point
  of Care testing, Security, and Research Labs. The
  end-use application of biosensors in point of
  care testing segment was worth USD 7 billion in
  2015.
• Key industry participants include Abbott
  Laboratories, Johnson Johnson, LifeScan Inc.,
  Bayer Healthcare, EG G IC Sensors, Ercon Inc.,
  Biosensor International Ltd, Strategic
  Diagnostics Inc., and Sysmex Corporation. The
  market players will try to retain their market
  position by producing compact and effective
  biosensors over the coming timeframe.

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U.S. Biosensors Market Size, By Application, 2012
- 2024 (USD Million)

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