Biosensors Market worth 27.06 Billion USD by 2022
[182 Pages Report] The biosensors market was valued at USD 15.96 billion in 2016 and is estimated to reach USD 27.06 billion by 2022, at a CAGR of 8.84% during the forecast period. The growing demand for biosensors in industries such as healthcare, biodefense, environmental monitoring, and food & beverages worldwide is driving the growth of the biosensors market.
The report covers the biosensors market on the basis of application, type, product, and geography. The market is expected to be led by POC segment during the forecast period. The development of accurate and rapid testing kits is propelling the growth of the POC diagnostics market.
Among wearable biosensors, wrist-wear biosensors accounted for the largest market size in 2016. Wrist wearable devices for fitness and wellness are already commonly available in the market and are gaining popularity. It includes devices such as smart watches and wrist bands. The constant technological innovations, easy to use user interface, real-time health monitoring, and cost effectiveness are the major factors driving the market for the wrist wear applications. The point-of-care application accounted for the largest share of the total wrist-wear market.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=798
Optical biosensors are expected to lead the overall biosensor market due to the highest growth rate during the forecast period. Optical biosensors are commonly used to analyses biomolecular interactions, since these sensors determine affinity and kinetics of a wide variety of molecular interactions in real time, without the need for a molecular tag or label. New applications are being discovered for optical sensors such as drug discovery, including target identification, ligand fishing, assay development, and manufacturing quality control. All these factors have led to the highest growth of the optical sensor market during the forecast period.
The North American region is estimated to account for the largest share of the global biosensors market in 2017. The POC diagnostics is the fastest-growing application in the market in North America. The increase in the waiver of CLIA for certain POC diagnostic devices such as coagulation devices, glucose monitoring devices, and hematology devices is further driving the growth of the market in North America.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.