Biosensors Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Biosensors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 19, 2024 /EINPresswire.com/ -- The biosensors market has experienced significant growth in recent years, expanding from $31.01 billion in 2023 to $24.63 billion in 2024, at a compound annual growth rate (CAGR) of 11.6%. This growth is driven by increased focus on preventive healthcare, rising prevalence of chronic diseases, growing demand for point-of-care diagnostics, and expanding applications in environmental monitoring and food safety.

Future Outlook: Key Drivers and Trends
Looking ahead, the biosensors market is expected to grow to $54 billion by 2028, at a CAGR of 11.8%. Key drivers of this growth include the proliferation of wearable health devices, the surge in demand for rapid diagnostic tests, advancements in data analytics and connectivity, the emergence of precision medicine initiatives, increasing focus on environmental monitoring and food safety regulations, and expanding applications in personalized nutrition and wellness. Major trends shaping the market include increased demand for wearable biosensors, expansion of point-of-care testing, integration of artificial intelligence and machine learning, growth in chronic disease management solutions, and rising adoption of biosensors in agriculture and environmental monitoring.

Rising Prevalence of Chronic Disorders
The rising prevalence of chronic disorders is a significant factor propelling the growth of the biosensors market. Chronic disorders, such as diabetes, are on the rise due to factors including sedentary lifestyles, poor dietary habits, genetic predispositions, and environmental pollutants. Biosensors enable early detection and continuous monitoring of biomarkers, revolutionizing the management of chronic disorders.

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Major Players in the Biosensors Market
Key companies operating in the biosensors market include:
Johnson & Johnson, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Danaher Corporation, Siemens Healthineers, Becton Dickinson and Company, Agilent Technologies, Illumina Inc., Sartorius AG, BioMérieux SA, Cytiva, PerkinElmer Inc., Sysmex Corporation, Dexcom Inc., Bio-Rad Laboratories, Bruker Corporation, HORIBA Ltd., Lifescan Inc

Innovations in Hydration Monitoring
Leading companies are developing advanced non-invasive monitoring products, such as real-time sweat patches, to address the need for convenient and accurate health monitoring solutions. For instance, Nix Biosensors launched the Nix Hydration Biosensor in December 2022. This wearable biosensor provides personalized hydration data for endurance athletes through sweat analysis, offering a more convenient and effective way to monitor hydration levels during physical activities.

Regional Insights: North America and Asia-Pacific
North America was the largest region in the biosensors market in 2023, driven by advanced healthcare infrastructure and high R&D investments. Asia-Pacific is expected to be the fastest-growing region during the forecast period, supported by expanding healthcare access and increasing prevalence of chronic diseases.

Market Segmentation
The biosensors market is segmented by product, technology, and application:
1. By Product:
o Wearable Biosensors
o Non-Wearable Biosensors
2. By Technology:
o Electrochemical Biosensors
o Optical Biosensors
o Piezoelectric Biosensors
o Nano Mechanical Biosensors
o Thermal Biosensors
o Other Technologies
3. By Application:
o Medical
o Food Toxicity
o Bioreactor
o Agriculture
o Environment
o Other Applications

The biosensors market is poised for significant growth driven by advancements in wearable technology, increased prevalence of chronic diseases, and innovations in diagnostic and monitoring solutions. With major companies investing in R&D and expanding their biosensor portfolios, the market is set to offer improved health monitoring and management solutions, enhancing patient care and outcomes in the coming years.

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Biosensors Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Biosensors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biosensors market size, biosensors market drivers and trends, biosensors market major players, competitors' revenues, market positioning, and market growth across geographies. The biosensors market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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