Dublin, June 10, 2019 (GLOBE NEWSWIRE) -- The "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 has been added to ResearchAndMarkets.com's offering.

The global biosensors market was valued at USD 19.36 billion in 2018 and is projected to reach USD 31.50 billion by 2024; it is expected to grow at a CAGR of 8.30% during the forecast period.

Biosensors refer to semiconductor devices designed to sense and convert biological responses into electrical signals using transducers. Biosensors are used as an analytical tool for providing qualitative or quantitative results of protein or nucleic acid targets.

Over the past few years, biosensors have become a prominent technology, with its increased use in medical, biodefense research, environmental monitoring, chemicals, and pharmaceutical processes. These are widely used in home diagnostics, research lab, biodefense, environmental monitoring, the food & beverages, and point-of-care (PoC) diagnostics.

The growth in the PoC market is attributed to advancements in biosensors technology and increasing demand for quick test results. Also, the growing prevalence of infectious and lifestyle diseases, such as cardiac complications and diabetes, is increasing the demand for PoC diagnostics.

Awareness among people for easy and convenient ways to get faster test results is also contributing to growing demand. Also, physicians prefer PoC for quick decision-making to prescribe drugs. On the contrary, doctors had to wait before starting with symptomatic treatment as test procedures previously took considerably longer time to yield results.

The biosensors market is witnessing slow commercialization, primarily due to price sensitivity; acceptance from end users; and concerns related to quality, authenticity, and reliability of 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 witness the maximum sale. However, there is a potential market for nonbiomedical applications, which needs to be identified by players and promoted to end users. Another reason for slow commercialization is the use of enzyme-based transducers in biosensors. Enzyme-based transducers are expensive as the cost of sourcing, extraction, isolation, and purification is high.

Key players in this market have adopted various strategies to expand their global presence and increase their market shares.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insight
4.1 Attractive Opportunities in Biosensors Market
4.2 Biosensors Market, By Application
4.3 Biosensors Market, By Country
4.4 Biosensors Market, By Technology

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
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
5.2.4.2 Pricing Pressure in POC Market

6 Biosensors Market, By Type
6.1 Introduction
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
7.1 Introduction
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
8.1 Introduction
8.2 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
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
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
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
9.1 Introduction
9.2 POC
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
9.2.2 Cardiac Marker
9.2.2.1 Sedentary Urban Lifestyles Causing Increase in Cardiovascular Diseases
9.2.3 Infectious Disease Detection
9.2.3.1 Detection of Toxins, Bacteria, and Viruses in A Variety of Physiological and Environmental Matrices.
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
9.2.5 Pregnancy Testing
9.2.5.1 Growing Preference of Women for Confidentiality and Accessibility of Test Results
9.2.6 Blood Gas & Electrolyte Detection
9.2.6.1 Increasing Global Aging Population is Significantly Driving the Growth of the Market
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
9.2.8 Urinalysis Testing
9.2.8.1 Rising Number of Urinary Tract Infections Among Individuals
9.2.9 Cholesterol Testing
9.2.9.1 Increasing Prevalence of CVDs Due to Aging and Obese Population
9.3 Home Diagnostics
9.3.1 Glucose Monitoring
9.3.1.1 Growing Preference for Self-Monitoring Blood Glucose Devices
9.3.2 Pregnancy Testing
9.3.2.1 Need for Portable and User-Friendly Pregnancy Testing Devices
9.3.3 Cholesterol Testing
9.3.3.1 Growth of Diseases Due to Increased Cholesterol Levels in Individuals
9.4 Research Lab
9.4.1 Need of Biosensors Based Product Development for Early Monitoring of Diseases
9.5 Biodefense
9.5.1 Use of Biosensors to Detect Microbial Pathogens During Biological Warfare
9.6 Environmental Monitoring
9.6.1 Detection of Contaminants in Complex Matrices With Several Advantages Helping to Grow the Market
9.7 Food & Beverages
9.7.1 Biosensors Used for Pathogen Detection and Helping to Meet the Nugent Food Standards

10 Geographic Analysis

11 Competitive Landscape

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 Abbott Laboratories Inc.
12.2.2 F. Hoffman-La Roche
12.2.3 Medtronic
12.2.4 Universal Biosensors
12.2.5 Siemens AG
12.2.6 Lifescan
12.2.7 Bayer Healthcare AG
12.2.8 Bio-Rad Laboratories, Inc.
12.2.9 Dowdupont Inc.
12.2.10 Sysmex Corporation
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

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Related Topics: Biotechnology