The Global Biosensors Market is estimated to be worth US$ 21.2 Billion in 2019 and is expected to grow at 8.3% in the forecast period (2019 – 2025) to reach US$ 34.2 Billion in Market Size by 2025.
The Key factors driving the growth of the market include significant technological advancements, Rising adoption of Biosensors in Agriculture, Supporting Government initiatives, Surging adoption of wearable biosensors and Increasing demand for PoC testing.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Trends
- Industry Challenges
- Technology Trends
- Pricing Trends
- Regulatory Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Biosensors are devices that react to biologically sensitive elements and aid in detecting them. They can be of many types including electrochemical biosensors, optical biosensors, biosensors to enzymes, electronic biosensors, and biosensors to proteins.
Biosensors have undergone enormous transformation in the present scenario, and are being used for industrial and residential uses. Normally, these tools consist of a sensor that reacts to elements including proteins, enzyme reactions, cells, tissues, antibodies, antigens, and others.
The biosensors market has, therefore found abundant application in industries and markets such as healthcare, agriculture, environment, industrial process control, food toxicity detection, and others.
Application Segments of Biosensors Market
Food Contamination According to the World Health Organization, about 1 in 10 people worldwide either fall ill or die because of contaminated food. This number reflects the tremendous pressure exerted by food industry to closely test edible items and calculate signs of food toxicity.
Biosensors play an important role here, as they are used to detect the presence of toxic elements in food.
Biosensors based on enzymes test the organophosphates and carbamates that are derived from pesticides. In addition, biosensors are used in the bakery and alcohol industries during the fermentation process to closely track the acids, carbohydrates, etc.
Actually 6.2 million hectares of arable land are present in the world, according to the USDA Foreign Agricultural Service. This incredibly large amount of land provides for the world's ever growing demand for food.
Biosensors have become an important part of farming because of their ability to detect pathogens, thereby saving the crops from damage. It has helped establish a symbiotic relationship between the agricultural sector and the demand for biosensors and has resulted in reciprocal growth
The world is becoming increasingly aware about the risks associated with chronic illnesses and how exercising and monitoring vital signs form the core methods of prevention.
This has given birth to wearable biosensors that use biochemical markers to capture data about vital signs. Such biochemical markers typically include blood, sweat, saliva and others and respond to the wearable biosensor signals.