Global Biosensors Market Insights and Forecast to 2028

Biosensors Market

Due to the COVID-19 pandemic, the global Biosensors market size is estimated to be worth US$ 13040 million in 2022 and is forecast to a readjusted size of US$ 21280 million by 2028 with a CAGR of 8.5% during the review period.

It is forecast to have a readjusted size of US$ 21280 million by 2028 with a CAGR of 8.5% during the forecast period. Key drivers of the biosensors market include the increasing use of medical biosensors. The need for effective food quality control and agro-food diagnostics will fuel the growth of the biosensors market in the coming years. The need for environmental monitoring will drive the growth of the market in the forthcoming years. The agricultural industry will augment the demand of the market during the forecast period.

Biosensors

A biosensor is an analytical device, used for the detection of an analyte, it combines a biological component with a physicochemical detector. The sensitive biological element (e.g. tissue, microorganisms, organelles, cell receptors, enzymes, antibodies, nucleic acids, etc.) is a biologically derived material or biomimetic component that interacts (binds or recognizes) with the analyte under study. The biologically sensitive elements can also be created by biological engineering. The transducer or the detector element (works in a physicochemical way; optical, piezoelectric, electrochemical, etc.) transforms the signal resulting from the interaction of the analyte with the biological element into another signal (i.e., transduces) that can be more easily measured and quantified. The biosensor reader device with the associated electronics or signal processors that are primarily responsible for the display of the results in a user-friendly way. This sometimes accounts for the most expensive part of the sensor device however it is possible to generate a user friendly display that includes transducer and sensitive element (holographic sensor). The readers are usually custom-designed and manufactured to suit the different working principles of biosensors.

Biosensors Market Trends

Medical Science

The demand for diagnostic tools with effective analytical characteristics will surge the growth of the smart biosensors market. These are devices containing biological elements and physiochemical detectors for identifying analytes. The huge prevalence of chronic diseases like diabetes, and cancer have increased the healthcare burden. Self-monitoring of vital health signs is crucial for early diagnosis and effective treatment. For instance, glucose monitors are used extensively in clinical applications for measuring blood sugar levels. The blood samples  are undiluted and not easily contaminated allowing easy self-testing and remote health monitoring. Moreover, point-of-care biosensors identify diseases at early stages before any rapid infection outbreak. They are cheaper, miniaturized, and portable with user-friendly features. It is being used in personalized medication for specific healthcare monitoring. Moreover, wearable biosensors have emerged with smartwatches, rings, and bracelets to monitor heart rate, pulse, blood pressure, etc.

Food Industry

Food quality control measures are important. They are used to analyze nutrients, antinutrients, food processing methods, and genetically modified o rganisms. Biosensors determine the level of antibiotics, fatty acids, complex B vitamins, and proteins through their immunogenic reactions. This will drive the expansion of the biosensors market in the coming years. Amino acids, amines, amides, carbohydrates, carboxylic acids, gases, alcohols, phenols, etc are detected accurately. It is used in the analysis of wine, beer, yogurt, etc. The devices also search for water-soluble vitamins and chemical contaminants. Any pathogenic organisms present in meat, poultry, eggs, and fish are detected immediately. The transducer or an enzyme, antibody, or microbe reacts with the analyte to create a biological response that gets converted into an electrical si gnal of the transducer. The devices are also effective in catching tampered food packaging and processing yields.

Environmental Monitoring

Environmental degradation and climate change are serious concerns of the 21st-century world. Endocrine-disrupting chemicals and other pathogenic materials like bacteria and pollutants are measured in greater detail.  They are highly efficient for detecting water pollution-causing contaminants. Nitrate and phosphate levels are tracked accordingly. This will spur the growth of the biosensors market in the upcoming years. Biosensors measure the actual conditions of soil, water, and air samples to assess the levels of pathogens and toxic pollutants. The devices facilitate a sensing element to target analytes from complicated samples. They also target harmful industrial pollutants like PCBs, heavy m etals, and their by-products. The on-field monitoring of harmful pollutants is done smoothly.

Agricultural Industry

The need for early detection of problems in the farming sector is critical. Biosensors are deployed regularly to monitor crop disease, insect damage, water deficiency, plant population, nutrition levels, and flood management.  They are rapid, reliable, and with high levels of sensitivity which increases precision. This will fuel the growth of the biosensors market in the upcoming years. For instance, it is useful in diagnosing the rust of soybean crops and other pathogens' presence in plants. The device measures the soil PH level, nutrient content, fruit ripe ness, and other infestations. It deals with pesticide residue buildup and disease-causing vectors. They monitor whether the pesticide use is within safe limits or not. 

Biosensors Market Analysis

Based on product type, wearable biosensors will dominate the biosensors market share due to their ability for remote health monitoring and change the way of medical diagnostic tools.

Based on application, the medical science segment will maintain the lead with a market share of 68% due to its large-scale use in cholesterol testing, drug discovery procedures, blood glucose monitoring, pregnancy testing, and identifying infectious disorders. The rising geriatric population and huge prevalence of diabetes will fuel the growth of the segment.

Based on region, North America will be the most lucrative with a market share of 40 % as the use of miniaturized diagnostic equipment is high and technological improvements in biosensors for precise and quick findings.

Biosensors Market Scope and Segment

Biosensors market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Biosensors market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.

Biosensors Market Segment By Type

• Non-wearable Biosensor
• Wearable Biosensor

Biosensors Market Segment By Application

• Medical Science
• Environmental Monitoring
• Food
• Agriculture
• Others

By Company

• Abbott
• Dexcom
• Medtronic
• Ascensia Diabetes Care
• LifeScan, Inc.
• Roche
• ARKRAY
• Sinocare
• Nova Biomedical
• B. Braun

Production By Region

• North America
• Europe
• China
• Japan

Consumption By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Taiwan
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• U.A.E