Biosensors Market Size, Growth, Trend and Forecast to 2024

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MarketsandMarkets Presents
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
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MarketsandMarkets Presents
Embedded device held larger size of biosensor
market during forecast period The growth of
embedded devices is attributed to its
implementation in environment monitoring,
biodefence, and food beverages to detect and
remove contaminants, whether nonliving or living
entities. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id798 These biosensors can be used for the
detection of a broad spectrum of biological
analytes and have shown greater responses and
success in medical laboratories, food
bioanalysis, and microbial detection. Detection
of lower or higher limits of glucose in body,
microbial invasion in body and food, heavy metals
detection in soil and water, air-borne microbes
and pesticides in water and soil, and various
harmful chemicals produced by body can be easily
and timely monitored with precision using the
different types of embedded biosensors.
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MarketsandMarkets Presents
Wearable segment to grow at higher CAGR during
forecast period Wearable biosensors can be
considered as among the major developments in
healthcare technology. Wearable devices
monitoring health consist of different types of
miniature biosensors capable of measuring
physiological parameters, such as vital signs
(heart rate, respiration rate, body and skin
temperature, and oxygen saturation), skin
conductance, blood pressure, electrocardiogram
(ECG), electroencephalography (EEG),
acceleration, and rotation.
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MarketsandMarkets Presents
Key players operating in the biosensor market
include 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).
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MarketsandMarkets Presents
North America held largest size of biosensors
market in 2019 North America held the largest
size of the biosensor market in 2019. 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 baby boomer population is witnessing a growth
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 expected to reach 72.1 billion
by 2030.
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