Biosensors Market by Product (Wearable Biosensors, Non-wearable Biosensors), Type (Embedded Device, Sensor Patch), Technology, Application, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2029

Biosensors Market Size

The global biosensors market size was valued at $29.14 billion in 2023 and is projected to reach $46.24 billion by 2029, growing at a CAGR of 8.0% during the forecast period. 

Biosensors Market Dynamics

• The biosensors market is expected to witness significant growth in the future due to increasing government initiatives toward diagnostics and emergence of the nanotechnology-based biosensors. 

• Additionally, growing technological advancements in the last few years and the rising use of biosensors to monitor glucose levels in individuals with diabetes are the prominent factors driving the growth of the biosensors market demand.

• However, stringent government regulations and high costs of research & development are restraining the market growth.

• On the contrary, huge growth opportunities in the wearable devices vertical, emerging markets in developing countries, and growing demand for home-based point-of-care devices due to the pandemic are creating opportunities for market growth.

Biosensors Market Overview

Biosensors are medical gadgets that are fundamentally used to detect or identify the presence or convergence of organic substances, for example, a biomolecule or a microorganism. They are insightful gadgets that can change an organic reaction into an electrical signal. Biosensors significantly contain three sections, including a part that recognizes an analyte and produces a signal, a sign transducer, and a reader gadget.

By Application, the Point of Care (POC) Segment is projected to be the largest Segment in the Biosensors Market

The point of care (POC) segment is estimated to witness a significant growth rate in the foreseeable future. Among the key delivering drivers ascribed to the development of biosensors in the PoC testing market over the forecast period are technological advances in leading-edge product creation, for example, biosensors ultrasensitive printable for point-of-care applications that assist screen or sensing natural fluids like blood, and urine, saliva, and perspiration. These frameworks give consumers quick and precise outcomes that work with prior conclusions and quicker treatment. Steady R&D is prompting the advancement of cutting-edge point-of-care biosensors, for example, label-free optical strategies that incorporate surface plasmon reverberation, confined surface plasmon reverberation, and further developed spectroscopy procedures, which is expected to support the interest for biosensors in place of-care diagnostics over the forecast period.

By Geography, North America Region Holds the Dominant Position in the Market Revenue

North America is projected to be the largest segment in the biosensors market due to the presence of significant players and the increasing incidence rate of targeted diseases in the region. The technological improvements such as the introduction of miniaturized diagnostic equipment that provides increased market penetration of Electronic Medical Records (EMR), as well as precise and quick findings are expected to fuel market expansion. Furthermore, the Clean Air Act, Clean Water Act, and National Environmental Policy Act all exist in the U.S. and are projected to create attractive growth possibilities for the market in North America over the projection period. Moreover, the surge in the use of biosensors in this region for monitoring food quality parameters is anticipated to contribute to the market growth. In addition, the rise in demand for POC technologies in North America, and the focus on rapid, simple, accurate, portable, and low-cost analytical instruments propel the market growth for the biosensors market in the region.

Some of the Key Players Profiled in the Report Include:

• Abbott Laboratories
• Bio-Rad Laboratories Inc.
• DuPont Biosensor Materials
• Johnson & Johnson
• Koninklijke Philips N.V.
• LifeScan, Inc.
• Medtronic
• Molex LLC
• Nova Biomedical
• Pinnacle Technologies Inc.
• Siemens Healthcare
• TDK Corporation

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market and, the challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Product:
• Wearable Biosensors
• Non-wearable Biosensors

Market by, Type:
• Embedded Device
• Sensor Patch

Market by, Technology:
• Electrochemical Biosensors
• Nanomechanical Biosensors
• Optical Biosensors
• Piezoelectric Biosensors
• Thermal Biosensors

Market by, Application:
• Agriculture
• Environmental Monitoring
• Food & Beverages
• Home Diagnostics
• Point of Care (POC)
• Research Labs
• Security and Biodefense

Market by, Geography:

The Biosensors Market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Table Of Content

1 Market Overview             
    1.1 Introduction         
    1.2 Research Objectives        
    1.3 Market Segmentation        
    1.4 Stakeholders         
    1.5 List of Acronyms         
               
2 Executive Summary             
               
3 Research Methodology            
    3.1 Identification of Data        
    3.2 Evaluation of Market Dynamics       
    3.3 Collaboration of Data        
    3.4 Verification and Analysis        
    3.5 Data Sources         
    3.6 Assumptions         
                
4 Market Dynamics             
    4.1 Market Drivers         
           4.1.1 Increasing Government Initiatives toward Diagnostics
           4.1.2 Emergence of the Nanotechnology-based Biosensors
    4.2 Market Restraints         
           4.2.1 High Costs of Research & Development
    4.3 Market Opportunities        
           4.3.1 Huge Growth Opportunities in Wearable Devices Vertical
    4.4 Market Challenges         
           4.4.1 Stringent Government Regulations
    4.5 Impact of COVID-19 on Biosensors Market      
               
5 Porter's Five Force Analysis            
    5.1 Bargaining Power of Suppliers        
    5.2 Bargaining Power of Buyers        
    5.3 Threat of New Entrants        
    5.4 Threat of Substitutes        
    5.5 Competitive Rivalry in the Market       
               
6 Global Biosensors Market by, Product           
    6.1 Overview         
    6.2 Wearable Biosensors        
           6.2.1 Eye wear   
           6.2.2 Foot Wear  
           6.2.3 Wrist Wear  
    6.3 Non-wearable Biosensors        
               
7 Global Biosensors Market by, Type           
    7.1 Overview         
    7.2 Embedded Device         
    7.3 Sensor Patch         
               
8 Global Biosensors Market by, Technology          
    8.1 Overview         
    8.2 Electrochemical Biosensors        
    8.3 Nanomechanical Biosensors        
    8.4 Optical Biosensors         
    8.5 Piezoelectric Biosensors        
    8.6 Thermal Biosensors         
               
9 Global Biosensors Market by, Application          
    9.1 Overview         
    9.2 Agriculture         
    9.3 Environmental Monitoring        
    9.4 Food & Beverages         
    9.5 Home Diagnostics         
    9.6 Point of Care (POC)         
    9.7 Research Labs         
    9.8 Security and Biodefense        
               
10 Global Biosensors Market by, Geography          
    10.1 Overview         
    10.2 North America         
             10.2.1 US 
             10.2.2 Canada 
             10.2.3 Mexico 
    10.3 Europe          
             10.3.1 Germany 
             10.3.2 France 
             10.3.3 UK 
             10.3.4 Italy 
             10.3.5 Spain 
             10.3.6 Rest of Europe
    10.4 Asia Pacific         
             10.4.1 China 
             10.4.2 Japan 
             10.4.3 India 
             10.4.4 South Korea
             10.4.5 Australia 
             10.4.6 New Zealand
             10.4.7 Rest of Asia Pacific
    10.5 South America         
             10.5.1 Brazil 
             10.5.2 Argentina
             10.5.3 Chile 
             10.5.4 Rest of South America
    10.6 Middle East & Africa        
             10.6.1 UAE 
             10.6.2 Saudi Arabia
             10.6.3 Qatar 
             10.6.4 Iran 
             10.6.5 South Africa
             10.6.6 Rest of Middle East & Africa
               
11 Key Developments             
               
12 Company Profiling              
    12.1 Abbott Laboratories         
             12.1.1 Business Overview
             12.1.2 Product/Service Offering
             12.1.3 Financial Overview
             12.1.4 SWOT Analysis
             12.1.5 Key Activities
    12.2 Bio-Rad Laboratories Inc.        
    12.3 DuPont Biosensor Materials        
    12.4 Johnson & Johnson         
    12.5 Koninklijke Philips N.V.        
    12.6 LifeScan, Inc.         
    12.7 Medtronic         
    12.8 Molex LLC         
    12.9 Nova Biomedical         
    12.10 Pinnacle Technologies Inc.        
    12.11 Siemens Healthcare         
    12.12 TDK Corporation