Biosensor Market Size Is Projected to Reach $40.53 Billion By 2028 | CAGR: 8.0%: Exclusive Report by Polaris Market Research

Biosensor Market Size Is Projected to Reach $40.53 Billion By 2028 | CAGR: 8.0%: Exclusive Report by Polaris Market Research
Polaris Market Research
The global biosensors market was valued at USD 22.45 billion in 2020 and is expected to reach USD 40.53 billion by 2028 to grow at a CAGR of 8.0% during the forecast period 2021 – 2028

The global biosensors market size is expected to reach USD 40.53 billion by 2028 according to a new study by Polaris Market Research. The report “Biosensors Market Share, Size, Trends, Industry Analysis Report, By Technology (Thermal, Electrochemical, Piezoelectric, Optical); By Application; By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.

The introduction of nanotechnology-based biosensors, usage of instruments in blood sugar level monitoring in diabetes patients, increasing demand for home-based point-of-care devices due to the COVID-19 pandemic, increasing advancement in technology, and mounting government policies toward diagnostics are some of the significant factors that may complement the global industry development.

Several new technologies have been developed in recent years which will revolutionize biosensor technology. Nano-biosensors have emerged in recent years, and they are increasingly used in various genomics and proteomic techniques

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Market Participants such as Abbott Laboratories, Bayer AG, AZUR Environmental, Biosensor BV, DuPont Biosensor Materials, Cranfield Biotechnology Centre, Pinnacle Technologies Inc., Johnson & Johnson, Ercon, Inc., EG & IC Sensors, Inc., Strategic Diagnostics, Innovative Biosensors Inc., Sysmex Corporation, LifeScan, Inc., QTL Biosystems, Molecular Devices Corp., and Roche Diagnostics are some of the key players operating in the global market.

Biosensors Market Report till 2028

Market Insight:

The wide application of the product in the medical field will drive the growth of the industry. It is used in various medical section, including drug discovery, blood gas analyzer, cholesterol checking, infectious diseases, and blood glucose monitoring. Such devices are an essential tool in detecting several conditions, from diabetes to cancer, and thus contribute to industry growth.

There are several developments in the global industry in recent times due to its popularity and increased adoption. Fox BIOSYSTEMS launched a white Fox biosensor in March 2021. The biosensor is developed to overcome clogging in samples such as whole blood or lysates. It can detect microvesicles, nanobodies, antibodies, phage, and small molecules, and the probe in this biosensor is based on generic surface chemistry.

The COVID-19 pandemic is expected to further drive the growth of the global industry during the forecast period owing to the adaptation of the product in COVID-19 diagnosis and monitoring. Various companies are developing new COVID-19 associated products at different development levels, and these products are soon expected to be launched in the industry. 

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Polaris Market Research has segmented the biosensors market report on the basis of product, application, end-use, and region:

Biosensors, Technology Outlook (Revenue – USD Million, 2016 – 2028)

  • Thermal
  • Electrochemical
  • Piezoelectric
  • Optical

Biosensors, Application Outlook (Revenue – USD Million, 2016 – 2028)

  • Medical
  • Cholesterol
  • Blood Glucose
  • Blood Gas Analyzer
  • Pregnancy Testing
  • Infectious Testing
  • Food Toxicity
  • Bioreactor
  • Agriculture
  • Environment
  • Others

Biosensors, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

  • Home Healthcare Diagnostics
  • POC Testing
  • Food Industry
  • Research Laboratories
  • Security and Biodefense

Biosensors Market, Regional Outlook (Revenue – USD Million, 2016 – 2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Austria
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers

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