Biosensors Market - Industry Analysis by Manufacturers, End-User, Type, Application and Forecast to 2030

  • The Biosensors Market size was valued at USD 27.2 Billion in 2023 and the total Biosensors Market revenue is expected to grow at a CAGR of 7.8 % from 2024 to 2030, reaching nearly USD 38.9 Billion by 2030.

  • Format : PDF | Report ID : SMR_2265

Biosensors Market Overview

Biosensors are biological sensors made up of a transducer and a biological element. A biosensors is an analytical device used for the conversion of biological response into an electrical signal.

 

The biosensors market has seen robust growth driven by technological advancements, increasing prevalence of chronic diseases, and rising demand for rapid diagnostics. The demand for biosensors is highest in the healthcare sector, particularly for glucose monitoring in diabetes management. The aging population and rising incidence of chronic diseases are major drivers. Countries like China, Japan, and South Korea are leading manufacturers of biosensors due to their advanced manufacturing infrastructure and investment in R&D. The United States is a significant producer of biosensors, driven by its robust biotechnology sector and high investment in healthcare innovation.

 

The largest market for biosensors, driven by high healthcare spending and widespread adoption of advanced diagnostic technologies. The biosensors market is characterized by strong demand in healthcare, consumer electronics, and environmental monitoring, with significant manufacturing activities concentrated in the Asia Pacific, North America, and Europe. These regions not only lead in production but also in consumption, driven by technological advancements, increasing healthcare needs, and consumer preferences for convenient and reliable diagnostic solutions. The continuous innovation and expanding applications of biosensors ensure the sustained growth and evolution of this dynamic market.

 

Biosensors Market

 

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Biosensors Market Dynamics

Growing healthcare demand and technological advancement to boost Biosensors Market growth

The increasing prevalence of chronic diseases, such as diabetes and cardiovascular diseases, has heightened the demand for efficient diagnostic and monitoring tools. According to the International Diabetes Federation, approximately 463 million adults were living with diabetes in 2019, a number projected to rise to 700 million by 2045. This surge in chronic disease incidence underscores the need for continuous monitoring devices like glucose biosensors, which constitute a significant portion of the biosensors market. Biosensors manufacturers and biosensors manufacturing companies are capitalizing on this demand by developing more user-friendly, accurate, and affordable devices.

 

Advancements in nanotechnology, microfabrication, and bioengineering have significantly enhanced the performance and application range of biosensors. For instance, the integration of nanomaterials like carbon nanotubes and graphene has led to the development of highly sensitive and selective biosensors. These innovations enable the detection of low-concentration analytes, thereby broadening their application in medical diagnostics and environmental monitoring.

 

Biosensors Market1

 

The shift towards point-of-care (POC) testing is another critical driver of the biosensors market. POC testing allows for rapid, on-site diagnostic testing, facilitating immediate clinical decision-making and improving patient outcomes. The global POC diagnostics market was valued at USD 23.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.4% from 2021 to 2028. This growth directly fuels the demand for biosensors, which are integral components of POC devices.

 

Biosensors manufacturing companies are increasingly focusing on expanding their market penetration through strategic partnerships, mergers, and acquisitions. Key players in the biosensors market include Abbott Laboratories, Medtronic, Roche Diagnostics, and Bio-Rad Laboratories. These companies are investing heavily in research and development to introduce innovative biosensing technologies and expand their product portfolios.

 

Advancements in Nanotechnology to creative lucrative opportunity for the Biosensors Market growth

Nanotechnology has revolutionized the biosensors industry by enhancing the sensitivity, selectivity, and miniaturization of biosensors. Nanomaterials such as carbon nanotubes, quantum dots, and gold nanoparticles are being integrated into biosensor designs to improve performance. This innovation opens opportunities for biosensors manufacturers to develop highly efficient and portable devices. For instance, the global nanotechnology market is projected to reach $125 billion by 2024, growing at a compound annual growth rate (CAGR) of 16.9% from 2019 to 2024. This growth presents significant opportunities for biosensors manufacturing companies to leverage nanotechnology in developing advanced biosensors.

 

Expanding Applications in Environmental Monitoring

Biosensors are increasingly being used for environmental monitoring, providing opportunities for growth in this sector. They can detect pollutants, toxins, and pathogens in air, water, and soil with high sensitivity and specificity. As environmental regulations become more stringent and the need for sustainable practices grows, the demand for biosensors in environmental monitoring is expected to rise. For example, the global environmental monitoring market is projected to reach $25.6 billion by 2025, growing at a CAGR of 7.7% from 2020 to 2025. Biosensors manufacturers can capitalize on this opportunity by developing specialized sensors for environmental applications.

 

The increasing global healthcare expenditure is a significant driver for the biosensors market. Governments and private entities are investing heavily in healthcare infrastructure, diagnostics, and medical devices to improve patient care. According to the World Health Organization, global healthcare spending reached $8.3 trillion in 2020. This increase in healthcare expenditure provides opportunities for biosensors manufacturers to develop and market advanced diagnostic devices and biosensors for early disease detection and management.

 

Biosensors Market Segment Analysis

Based on Type, the market is segmented into Sensor Patch and Embedded Device. Embedded Device segment dominated the market in 2023 and is expected to hold the largest Biosensors Market share over the forecast period.

 

The embedded devices segment within the biosensors market is gaining significant traction due to its pivotal role in various applications, particularly in healthcare, environmental monitoring, and consumer electronics. Embedded biosensors are integrated into larger systems, providing real-time monitoring and data analysis capabilities, thereby enhancing the functionality and usability of these systems. In the healthcare sector, embedded biosensors are crucial for continuous monitoring and management of chronic diseases. Devices such as insulin pumps, cardiac monitors, and wearable health trackers use embedded biosensors to track vital parameters like glucose levels, heart rate, and oxygen saturation.

 

The integration of biosensors into these devices allows for real-time data collection and analysis, facilitating timely medical interventions and personalized healthcare. The embedded devices segment is witnessing significant market penetration due to the increasing demand for advanced monitoring solutions across various industries. Biosensors manufacturing companies are focusing on developing compact, highly sensitive, and cost-effective embedded biosensors to cater to this growing demand. The global biosensors market, valued at $21.2 billion in 2020, is expected to reach $35.7 billion by 2025, growing at a CAGR of 10.1%. This growth is driven by the expanding applications of embedded biosensors and the continuous advancements in biosensor technology.

 

Biosensors Market2

 

Based on Application, the market is segmented into Point of Care, Home Diagnostics, Research Lab, Biodefense, and Environmental Monitoring. Home Diagnostics segment dominated the market in 2023 and is expected to hold the largest Biosensors Market share over the forecast period. Several factors are driving the growth of the home diagnostics segment. Key among them is the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory conditions. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, and this number is projected to reach 643 million by 2030. Home diagnostic biosensors, such as glucose monitors, play a crucial role in the daily management of such conditions, allowing individuals to monitor their health from the comfort of their homes.

 

Technological advancements in biosensors have significantly enhanced the home diagnostics segment. Innovations in microelectronics, nanotechnology, and biotechnology have led to the development of highly sensitive, specific, and user-friendly biosensors. These devices provide accurate and rapid diagnostic results, facilitating timely medical interventions. For instance, the integration of biosensors in smart devices such as smartphones and smartwatches allows for continuous health monitoring and data analysis, providing users with real-time health insights.          

 

Biosensors Market Regional Insight

Asia Pacific dominated the market in 2023 and is expected to hold the largest Biosensors Market share over the forecast period. Technological advancements in biosensors are one of the primary drivers of market growth in the APAC region. Innovations in nanotechnology, microelectronics, and biotechnology have significantly enhanced the performance and versatility of biosensors. Countries like Japan, South Korea, and China are at the forefront of these technological developments. For example, Japanese companies are known for their cutting-edge research and development (R&D) in biosensors, contributing to high-quality, innovative products. This focus on innovation ensures the region remains competitive in the global biosensors market.

 

The rising prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer, is driving the demand for biosensors in the APAC region. According to the World Health Organization, non-communicable diseases account for nearly 60% of all deaths in the region. The need for effective monitoring and management of these diseases has led to an increased adoption of biosensors for home diagnostics and point-of-care testing. For instance, the number of people with diabetes in China is expected to reach 140 million by 2040, significantly driving the demand for glucose monitoring biosensors.

 

Trade finance is a vital component in facilitating the biosensors market's growth in the APAC region. Financial institutions provide trade finance solutions that help biosensors manufacturers and distributors manage the costs associated with importing and exporting biosensors. These solutions include letters of credit, export credit insurance, and trade loans, which mitigate risks and ensure timely payments. By easing the financial burden, trade finance supports the expansion of biosensors manufacturing companies and helps them explore new markets.

 

North America is expected to dominate the Biosensors Market share over the forecast period. The rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is a major driver of the biosensors market in North America. According to the Centers for Disease Control and Prevention (CDC), about 34.2 million Americans have diabetes, and approximately 647,000 Americans die from heart disease each year. These statistics underscore the critical need for effective monitoring and management tools. Biosensors, especially glucose monitors and cardiac monitors, are essential for the ongoing management of these chronic conditions, driving demand for these devices.

 

Biosensors Market Competitive Landscape:

Abbott recently launched the FreeStyle Libre 3 system, which further enhances their CGM technology. The FreeStyle Libre 3 is the smallest and thinnest sensor yet, offering up to 14 days of accurate glucose readings with high accuracy of 9.3%. This system provides users with even more convenience and flexibility in managing their diabetes.

 

Roche Diagnostics recently launched the Accu-Chek Guide system, which represents a step forward in user-friendly design and accuracy. The Accu-Chek Guide system features a spill-resistant SmartPack test strip vial and offers advanced accuracy for reliable results. It also includes Bluetooth connectivity for seamless data sharing with healthcare providers and caregivers.

 

Abbott Laboratories focuses on continuous glucose monitoring (CGM) with innovations like the FreeStyle Libre systems, emphasizing convenience and real-time monitoring without finger pricks. Roche Diagnostics specializes in blood glucose monitoring with systems like the Accu-Chek series, which combine accuracy, user-friendliness, and connectivity for improved diabetes management.

 

Both companies have significantly impacted the biosensors market by focusing on improving patient experience, accuracy, and connectivity in diabetes management.

 

Biosensors Market Scope

Biosensors Market

Market Size in 2023

USD 27.2 Bn.

Market Size in 2030

USD 38.9 Bn.

CAGR (2024(2030)

7.8 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Segments Analysis

By Type

  • Sensor Patch
  • Embedded Device

By Product

  • Wearable Biosensors
  • Non-wearable Biosensors

By Technology

  • Electrochemical Biosensors
  • Optical Biosensors
  • Piezoelectric Biosensors
  • Thermal Biosensors
  • Nanomechanical Biosensors

By Application

  • Point of Care
  • Home Diagnostics
  • Research Lab
  • Biodefense
  • Environmental Monitoring
  • Food & Beverages
  • Agriculture

Regional Scope

North America – United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Russia, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa – South Africa, GCC, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Leading Biosensors manufacturers include:

 

  1. Abbott Point of Care Inc.(USA)
  2. Bio-Rad laboratories Inc. (USA)
  3. Nova Biomedical Corp (USA)
  4. ACON Laboratories, Inc. (USA)
  5. LifeScan Inc. (USA)
  6. DuPont (USA)
  7. Cytiva (USA)
  8. Dexcom, Inc. (USA)
  9. LifeSensors Inc. (USA)
  10. Universal Biosensors Inc. (Australia)
  11. Medtronic Inc. (Ireland)
  12. F. Hoffman-La Roche Ltd. (Switzerland)
  13. Roche (Basel, Switzerland)
  14. Sysmex Corporation (Japan)
  15. Biosensors International Group Ltd. (Singapore)
  16. Others


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Frequently Asked Questions

Ans: Biosensors are analytical devices composed of a biological element and a transducer. They convert biological responses into electrical signals to detect and measure the presence of various substances.

  1. Biosensors Market Introduction
    1. Study Assumption and Market Definition
    2. Scope of the Study
    3. Executive Summary
  2. Global Biosensors Market: Competitive Landscape
    1. SMR Competition Matrix
    2. Competitive Landscape
    3. Market share analysis of major players
    4. Products specific analysis
      1. Main suppliers and their market positioning
      2. Key customers and adoption rates across different sectors
    5. Key Players Benchmarking
      1. Company Name
      2. Product Segment
      3. End-user Segment
      4. Revenue (2023)
      5. Geographic distribution of major customers
    6. Market Structure
      1. Market Leaders
      2. Market Followers
      3. Emerging Players
    7. Mergers and Acquisitions Detail
  3. Biosensors Market: Dynamics
    1. Market Trends by Region
      1. North America Biosensors Market Trends
      2. Europe Biosensors Market Trends
      3. Asia Pacific Biosensors Market Trends
      4. Middle East and Africa Biosensors Market Trends
    2. Market Dynamics by Region
      1. Global Biosensors Market Drivers
      2. Global Biosensors Market Restraints
      3. Global Biosensors Market Opportunities
      4. Global Biosensors Market Challenges
    3. PORTER’s Five Forces Analysis
    4. PESTLE Analysis
    5. Value Chain Analysis
    6. Technological Roadmap
    7. Regulatory Landscape by Region
      1. North America
      2. Europe
      3. Asia Pacific
      4. Middle East and Africa
      5. South America
    8. Analysis of Government Schemes and Initiatives For Biosensors Industry
    9. Key Opinion Leader Analysis
  4. Biosensors Market: Global Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
    1. Biosensors Market Size and Forecast, By Type (2023-2030)
      1. Sensor Patch
      2. Embedded Device
    2. Biosensors Market Size and Forecast, By Product (2023-2030)
      1. Wearable Biosensors
      2. Non-wearable Biosensors
    3. Biosensors Market Size and Forecast, By Technology (2023-2030)
      1. Electrochemical Biosensors
      2. Optical Biosensors
      3. Piezoelectric Biosensors
      4. Thermal Biosensors
      5. Nanomechanical Biosensors
    4. Biosensors Market Size and Forecast, By Application (2023-2030)
      1. Point of Care
      2. Home Diagnostics
      3. Research Lab
      4. Biodefense
      5. Environmental Monitoring
      6. Food & Beverages
      7. Agriculture
    5. Biosensors Market Size and Forecast, By Region (2023-2030)
      1. North America
      2. Europe
      3. Asia Pacific
      4. Middle East and Africa
      5. South America
  5. North America Biosensors Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
    1. North America Biosensors Market Size and Forecast, By Type (2023-2030)
      1. Sensor Patch
      2. Embedded Device
    2. North America Biosensors Market Size and Forecast, By Product (2023-2030)
      1. Wearable Biosensors
      2. Non-wearable Biosensors
    3. North America Biosensors Market Size and Forecast, By Technology (2023-2030)
      1. Electrochemical Biosensors
      2. Optical Biosensors
      3. Piezoelectric Biosensors
      4. Thermal Biosensors
      5. Nanomechanical Biosensors
    4. North America Biosensors Market Size and Forecast, By Application (2023-2030)
      1. Point of Care
      2. Home Diagnostics
      3. Research Lab
      4. Biodefense
      5. Environmental Monitoring
      6. Food & Beverages
      7. Agriculture
    5. North America Biosensors Market Size and Forecast, by Country (2023-2030)
      1. United States
      2. Canada
      3. Mexico
  6. Europe Biosensors Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
    1. Europe Biosensors Market Size and Forecast, By Type (2023-2030)
    2. Europe Biosensors Market Size and Forecast, By Product (2023-2030)
    3. Europe Biosensors Market Size and Forecast, By Technology (2023-2030)
    4. Europe Biosensors Market Size and Forecast, By Application (2023-2030)
    5. Europe Biosensors Market Size and Forecast, by Country (2023-2030)
      1. United Kingdom
      2. France
      3. Germany
      4. Italy
      5. Spain
      6. Sweden
      7. Austria
      8. Rest of Europe
  7. Asia Pacific Biosensors Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030)
    1. Asia Pacific Biosensors Market Size and Forecast, By Type (2023-2030)
    2. Asia Pacific Biosensors Market Size and Forecast, By Product (2023-2030)
    3. Asia Pacific Biosensors Market Size and Forecast, By Technology (2023-2030)
    4. Asia Pacific Biosensors Market Size and Forecast, By Application (2023-2030)
    5. Asia Pacific Biosensors Market Size and Forecast, by Country (2023-2030)
      1. China
      2. S Korea
      3. Japan
      4. India
      5. Australia
      6. ASEAN
      7. Rest of Asia Pacific
  8. Middle East and Africa Biosensors Market Size and Forecast (by Value in USD Million) (2023-2030
    1. Middle East and Africa Biosensors Market Size and Forecast, By Type (2023-2030)
    2. Middle East and Africa Biosensors Market Size and Forecast, By Product (2023-2030)
    3. Middle East and Africa Biosensors Market Size and Forecast, By Technology (2023-2030)
    4. Middle East and Africa Biosensors Market Size and Forecast, By Application (2023-2030)
    5. Middle East and Africa Biosensors Market Size and Forecast, by Country (2023-2030)
      1. South Africa
      2. GCC
      3. Nigeria
      4. Rest of ME&A
  9. South America Biosensors Market Size and Forecast by Segmentation (by Value in USD Million) (2023-2030
    1. South America Biosensors Market Size and Forecast, By Type (2023-2030)
    2. South America Biosensors Market Size and Forecast, By Product (2023-2030)
    3. South America Biosensors Market Size and Forecast, By Technology (2023-2030)
    4. South America Biosensors Market Size and Forecast, By Application (2023-2030)
    5. South America Biosensors Market Size and Forecast, by Country (2023-2030)
      1. Brazil
      2. Argentina
      3. Rest Of South America
  10. Company Profile: Key Players
    1. Abbott Point of Care Inc.(USA)
      1. Company Overview
      2. Business Portfolio
      3. Financial Overview
      4. SWOT Analysis
      5. Strategic Analysis
      6. Recent Developments
    2. Bio-Rad laboratories Inc. (USA)
    3. Nova Biomedical Corp (USA)
    4. ACON Laboratories, Inc. (USA)
    5. LifeScan Inc. (USA)
    6. DuPont (USA)
    7. Cytiva (USA)
    8. Dexcom, Inc. (USA)
    9. LifeSensors Inc. (USA)
    10. Universal Biosensors Inc. (Australia)
    11. Medtronic Inc. (Ireland)
    12. F. Hoffman-La Roche Ltd. (Switzerland)
    13. Roche (Basel, Switzerland)
    14. Sysmex Corporation (Japan)
    15. Biosensors International Group Ltd. (Singapore)
    16. Others
  11. Key Findings
  12. Industry Recommendations
  13. Biosensors Market: Research Methodology

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