This Global Biosensors market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.
Selbyville, DE -- (SBWIRE) -- 12/10/2018 -- Market Study Report adds 2018-2024 Global Biosensors market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.
U.S. biosensors Market was over USD 5.5 billion in 2017. The market growth will be driven by rising prevalence of chronic diseases such as diabetes and cancer that require continuous critical monitoring. Rising usage of portable biosensors will increase the demand and stimulate the business growth. Furthermore, extended applications of biosensors in various other fields will also enhance overall industry growth significantly.
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Biosensors Market will exceed USD 29 billion by 2024; as per a new research report. Increasing prevalence of diabetes has been a major growth factor driving the biosensors industry. Increasing sedentary lifestyle and changing food habits around the world have resulted in obesity and hormonal disorders that lead to high prevalence of diabetes. Increasing demand for glucose biosensors that enable accurate detection of blood sugar levels has stimulated industry growth.
Integration of advanced technology in the newly developed biosensors will propel business growth. Growing adoption of biosensors in medical diagnostics due to accuracy and efficiency provided by newly developed biosensors will further boost biosensors market growth over the forecast timeframe.
Wearable biosensors attributed to more than 55% of the industry revenue in 2017 and is expected to grow significantly during the forecast period, owing to growing awareness amongst the adult population in developed as well as developing countries for sustaining healthy lifestyles along with rising incidences of diabetes. Industry players are focused on developing devices that will help individuals to monitor their health on various parameters.
Germany biosensors market will witness 8.2% growth over the forecast period due to development of new biosensor devices that have advanced technology integrated within them delivering improved surgical performance along with assisting in critical decisions about patient?s health. Increasing use of biosensors in medical as well as research laboratories will fuel biosensors market growth significantly.
Major industry players operating in biosensors market are Abbott Laboratories, Bio-Rad International, Biosensors International, DuPont Biosensors Materials, Ercon, Gwent Group, Innovative Biosensors, Johnson & Johnson, Molecular Devices Corp, Pinnacle Technology, QTL Biosystems, Roche Diagnostics, SDIX, LLC, Siemens Healthcare, TE Connectivity Corporation, Thermo-Fisher Scientific. Stiff competition among manufacturers have encouraged industry players to undertake some strategic initiatives to improvise their product offerings coupled with consolidating their market position.
Strategic merger and acquisition as well as new product development are some of the strategic initiatives that render companies with competitive advantage to survive in stiff competitive market. In June 2014, Johnson & Johnson developed new technology that is integrated within the biosensors that helps in monitoring critical and chronic conditions such as Alzheimer?s disease. Development of such new technologies will strengthen company?s product portfolio thereby generating profits for the company.
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Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Biosensors Industry Insights
Chapter 4. Biosensors Market, By Type
Chapter 5. Biosensors Market, By Technology
Chapter 6. Biosensors Market, By Medical Application
Chapter 7. Biosensors Market, By End-use
Chapter 8. Biosensors Market, By Region
Chapter 9. Company Profiles
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