Biosensors Market - Current Analysis by Market Share 2024-2032

Biosensors Market Synopsis:

Biosensors Market Size Was Valued at USD 28.22 Billion in 2023, and is Projected to Reach USD 56.88 Billion by 2032, Growing at a CAGR of 8.10% From 2024-2032.

The biosensors market mainly includes products involved in the identification and quantification of biological data using chemical or biological recognition events. Biosensors possess an element of biological recognition like enzymes or antibodies, a transducer that converts the biological interaction into an electrical response to the presence of a target substance. Originally, biosensors have numerous uses in the healthcare sector, environmental sensing, agriculture, food and beverage inspection and other industries where there is demand for quick, effective and accurate information for the end user.

Substantial growth has been observed in the biosensors industry mainly due to technological progress, reduction in size, and the introduction of new products based on digital health technology. These devices are critical in fields that demand constant evaluation and identification of events, especially the medical segment that dominates in terms of utilization and development. Biosensors are used extensively in glucose analysis, pathogen identification, monitoring of pollutants, and food safety. The quick and efficient usage of accurate and reliable data has made it sought after in various industries such as diagnostic, agriculture, and, environmental industries.

Currently, the development of the biosensors market is due to advances in microelectronics, biochemistry, and nanotechnology in recent years. These innovations permit the sensors to be more selective, sensitive and variable hence, enlarge the extension of their application. Furthermore, as more healthcare systems are moving to preventive and personalized medicine, biosensors are incorporated into medical devices to continuously track the status of patient’s health, treatment of chronic diseases, and telemonitoring. The biosensors market is expected to sustain this growth trajectory consequent to sustained advancements in biosensor technologies from health and environmental sectors with regard to accuracy, affordability, and usability.

Biosensors Market Trend Analysis:

Rise of Wearable Biosensors for Personalized Health Monitoring

• Wearable biosensors, more specifically in the field of Personal Health Monitoring have become the trend that is dominating the market. These sensors, which may be permanently installed in smart watches or other types of physical activity trackers, monitor life processes such as the heart rate, glucose levels in blood, and certain stress parameters and enable users to monitor their physical conditions thoroughly. As the prevalence of chronic diseases increases, there is more desire of consumer wearable biosensors because they allow individuals to analyze and observe their health conditions including diabetes, hypertension, and heart ailments. That way people are being provided with tools of self-management and autonomy in health related activities as well as being placed in a position to make right life decisions.
• The use of wearable devices incorporating biosensors applies with the current global quest for preventive care, allowing for early discovery and treatment. More so, as biosensors advance, the various health markers can be monitored together and present medical practitioners with data to design individualized approaches. It is also gospel by the Internet of Medical Things (IoMT) and biometrics, which turn raw data into intelligible information. Therefore, wearable biosensors are expected to be become an integral part of today’s healthcare delivery systems.

Growing Demand for Environmental Monitoring

• This demonstrates that the growth in employing environmental monitoring calls for biosensors. Issues such as climate change, pollution and resource contamination have become instrumental in society and are driving the need for better monitoring solutions. Biosensors provide accurate identification of pollutants in water, gases, and solids in addition to identification of hazardous chemicals and organisms. These devices find great application in places where other monitoring techniques may be expensive, labour-intensive or require many laboratory tools. An important advantage of biosensors is that they allow environmental monitoring in real-time effectively and are accessible.
• This opportunity is especially important today as the industries and governments are looking for a way to sustainably support balance necessary for ecological environment and to meet the necessary requirements. Examples include monitoring of pollutants in cases of water treatment where biosensors inform if water is fit for discharge or not. Further, in agriculture, biosensors assist in the determination of the health of the soil and water; hence helping in the increasing the yield on crops and the reduction of effects from the practice of farming. Looking at the increasing awareness regarding sustainability and practical regulation, the function of biosensors across the environment is on the rise.

Biosensors Market Segment Analysis:

Biosensors Market is Segmented on the basis of Product, Technology, Application, End User, and Region

By Technology, Electrochemical segment is expected to dominate the market during the forecast period

• The global biosensors market classified by technology are electrochemical biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors. Electrochemical biosensors make up the largest portion as regards impedance, cost, and ease of operation making them suitable for use in the medical field particularly in glucose sensing. Optical biosensors that have high and selective sensitivity used actively in diagnostics and environmental assessment. They use light to measure molecular interaction and are appreciated for their sensitivity and speed of response.
• Thermal and piezoelectric biosensors are also available but their application is rare in everyday use. Thermal biosensors have thermal changes that correspond to temperature change due to the biochemical reactions occurring and is useful in laboratories. Piezoelectric biosensors, mostly accurate, measure changes in mechanical properties and are suitable for use in contexts that need high accuracy, including pathogen detection. Every technology type has its own advantages allowing biosensors to be developed specifically for various fields and industries.

By Application, Medical segment expected to held the largest share

• Medical and Food and Beverage, Environment, Agriculture and industries are some of the areas in which biosensors are used. Health care uses biosensors for diagnostic, disease and wellness, and chronic disease management, including diabetes. In the food and beverage industry biosensors play the significant role in checking the quality of the food products thus preventing food lions from being sold to the market by checking for pathogenic microorganisms, toxins, and spoilage factors.
• Some of the biosensors are incorporated in the environmental monitoring applications to analyze the presence of pollutants and toxic, thus making them important in sustainability initiatives. In the agricultural industry applicability of biosensors in crop cultivation and livestock health improvement increases yield and decreases the negative effects on the environment. In industrial applications, biosensors assist in the management of a specific process with the goal of achieving productivity. These varied applications prove the versatility of biosensors in satisfying certain desired industry demands and Industry Standards.

Biosensors Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America holds the largest share in biosensor market because of improved health care infrastructure, relatively higher healthcare spending, and innovative medical technology inventions. They have knowledge-intensity since the region has a healthy research and development environment, and more investments are going into biotechnology – the development of biosensors. North America has also a rather big population base of chronic diseases and the need for remote and personalized health monitoring supported by medical biosensors.
• Also, favourable policies and a large number of biosensor industry giants provide a solid foundation for the development in North America. The market grows through government incentives driving innovation for medical devices and biosensors. Affected by the development level of health care technology, environmental management and advanced technology research and development in North America continues to dominate the market for biosensors.

Active Key Players in the Biosensors Market:

• Abbott Laboratories (USA)
• Medtronic (Ireland)
• Roche Diagnostics (Switzerland)
• Bio-Rad Laboratories (USA)
• Siemens Healthineers (Germany)
• GE Healthcare (USA)
• Honeywell International (USA)
• Danaher Corporation (USA)
• Thermo Fisher Scientific (USA)
• Nova Biomedical (USA)
• Universal Biosensors (Australia)
• LifeScan (USA)
• Other Active Players

Key Industry Developments in the Biosensors Market:

• In January 2023, Intricon Corporation announced the opening of a Bionsensor Center of Excellence (CoE). The center aims to vertically integrate the company’s business to provide biosensors in medical devices.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Biosensors Market by Technology
 4.1 Biosensors Market Snapshot and Growth Engine
 4.2 Biosensors Market Overview
 4.3 Electrochemical
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Electrochemical: Geographic Segmentation Analysis
 4.4 Optical
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Optical: Geographic Segmentation Analysis
 4.5 Thermal
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Thermal: Geographic Segmentation Analysis
 4.6 Piezoelectric
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Piezoelectric: Geographic Segmentation Analysis

Chapter 5: Biosensors Market by Application
 5.1 Biosensors Market Snapshot and Growth Engine
 5.2 Biosensors Market Overview
 5.3 Medical
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Medical: Geographic Segmentation Analysis
 5.4 Food and Beverage
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Food and Beverage: Geographic Segmentation Analysis
 5.5 Environmental Monitoring
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Environmental Monitoring: Geographic Segmentation Analysis
 5.6 Agriculture
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Agriculture: Geographic Segmentation Analysis
 5.7 Industrial
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Industrial: Geographic Segmentation Analysis

Chapter 6: Biosensors Market by Product
 6.1 Biosensors (AutoRecovered) Market Snapshot and Growth Engine
 6.2 Biosensors (AutoRecovered) Market Overview
 6.3 Wearable Biosensors
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Wearable Biosensors: Geographic Segmentation Analysis
 6.4 Non-Wearable Biosensors
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Non-Wearable Biosensors: Geographic Segmentation Analysis

Chapter 7: Biosensors Market by End-User
 7.1 Biosensors Market Snapshot and Growth Engine
 7.2 Biosensors Market Overview
 7.3 Point of Care Testing
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Point of Care Testing: Geographic Segmentation Analysis
 7.4 Home Diagnostics
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Home Diagnostics: Geographic Segmentation Analysis
 7.5 Research Laboratories
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Research Laboratories: Geographic Segmentation Analysis
 7.6 Food Industry
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Food Industry: Geographic Segmentation Analysis
 7.7 Environmental Monitoring
  7.7.1 Introduction and Market Overview
  7.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.7.3 Key Market Trends, Growth Factors and Opportunities
  7.7.4 Environmental Monitoring: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Biosensors Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions  
 8.2 ABBOTT LABORATORIES (USA)
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 MEDTRONIC (IRELAND)
 8.4 ROCHE DIAGNOSTICS (SWITZERLAND)
 8.5 BIO-RAD LABORATORIES (USA)
 8.6 SIEMENS HEALTHINEERS (GERMANY)
 8.7 GE HEALTHCARE (USA)
 8.8 HONEYWELL INTERNATIONAL (USA)
 8.9 DANAHER CORPORATION (USA)
 8.10 THERMO FISHER SCIENTIFIC (USA)
 8.11 NOVA BIOMEDICAL (USA)
 8.12 UNIVERSAL BIOSENSORS (AUSTRALIA)
 8.13 LIFESCAN (USA)
 8.14 OTHER ACTIVE PLAYERS

Chapter 9: Global Biosensors Market By Region
 9.1 Overview
 9.2. North America Biosensors Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Technology
  9.2.4.1 Electrochemical
  9.2.4.2 Optical
  9.2.4.3 Thermal
  9.2.4.4 Piezoelectric
  9.2.5 Historic and Forecasted Market Size By Application
  9.2.5.1 Medical
  9.2.5.2 Food and Beverage
  9.2.5.3 Environmental Monitoring
  9.2.5.4 Agriculture
  9.2.5.5 Industrial
  9.2.6 Historic and Forecasted Market Size By Product
  9.2.6.1 Wearable Biosensors
  9.2.6.2 Non-Wearable Biosensors
  9.2.7 Historic and Forecasted Market Size By End-User
  9.2.7.1 Point of Care Testing
  9.2.7.2 Home Diagnostics
  9.2.7.3 Research Laboratories
  9.2.7.4 Food Industry
  9.2.7.5 Environmental Monitoring
  9.2.8 Historic and Forecast Market Size by Country
  9.2.8.1 US
  9.2.8.2 Canada
  9.2.8.3 Mexico
 9.3. Eastern Europe Biosensors Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Technology
  9.3.4.1 Electrochemical
  9.3.4.2 Optical
  9.3.4.3 Thermal
  9.3.4.4 Piezoelectric
  9.3.5 Historic and Forecasted Market Size By Application
  9.3.5.1 Medical
  9.3.5.2 Food and Beverage
  9.3.5.3 Environmental Monitoring
  9.3.5.4 Agriculture
  9.3.5.5 Industrial
  9.3.6 Historic and Forecasted Market Size By Product
  9.3.6.1 Wearable Biosensors
  9.3.6.2 Non-Wearable Biosensors
  9.3.7 Historic and Forecasted Market Size By End-User
  9.3.7.1 Point of Care Testing
  9.3.7.2 Home Diagnostics
  9.3.7.3 Research Laboratories
  9.3.7.4 Food Industry
  9.3.7.5 Environmental Monitoring
  9.3.8 Historic and Forecast Market Size by Country
  9.3.8.1 Russia
  9.3.8.2 Bulgaria
  9.3.8.3 The Czech Republic
  9.3.8.4 Hungary
  9.3.8.5 Poland
  9.3.8.6 Romania
  9.3.8.7 Rest of Eastern Europe
 9.4. Western Europe Biosensors Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Technology
  9.4.4.1 Electrochemical
  9.4.4.2 Optical
  9.4.4.3 Thermal
  9.4.4.4 Piezoelectric
  9.4.5 Historic and Forecasted Market Size By Application
  9.4.5.1 Medical
  9.4.5.2 Food and Beverage
  9.4.5.3 Environmental Monitoring
  9.4.5.4 Agriculture
  9.4.5.5 Industrial
  9.4.6 Historic and Forecasted Market Size By Product
  9.4.6.1 Wearable Biosensors
  9.4.6.2 Non-Wearable Biosensors
  9.4.7 Historic and Forecasted Market Size By End-User
  9.4.7.1 Point of Care Testing
  9.4.7.2 Home Diagnostics
  9.4.7.3 Research Laboratories
  9.4.7.4 Food Industry
  9.4.7.5 Environmental Monitoring
  9.4.8 Historic and Forecast Market Size by Country
  9.4.8.1 Germany
  9.4.8.2 UK
  9.4.8.3 France
  9.4.8.4 The Netherlands
  9.4.8.5 Italy
  9.4.8.6 Spain
  9.4.8.7 Rest of Western Europe
 9.5. Asia Pacific Biosensors Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Technology
  9.5.4.1 Electrochemical
  9.5.4.2 Optical
  9.5.4.3 Thermal
  9.5.4.4 Piezoelectric
  9.5.5 Historic and Forecasted Market Size By Application
  9.5.5.1 Medical
  9.5.5.2 Food and Beverage
  9.5.5.3 Environmental Monitoring
  9.5.5.4 Agriculture
  9.5.5.5 Industrial
  9.5.6 Historic and Forecasted Market Size By Product
  9.5.6.1 Wearable Biosensors
  9.5.6.2 Non-Wearable Biosensors
  9.5.7 Historic and Forecasted Market Size By End-User
  9.5.7.1 Point of Care Testing
  9.5.7.2 Home Diagnostics
  9.5.7.3 Research Laboratories
  9.5.7.4 Food Industry
  9.5.7.5 Environmental Monitoring
  9.5.8 Historic and Forecast Market Size by Country
  9.5.8.1 China
  9.5.8.2 India
  9.5.8.3 Japan
  9.5.8.4 South Korea
  9.5.8.5 Malaysia
  9.5.8.6 Thailand
  9.5.8.7 Vietnam
  9.5.8.8 The Philippines
  9.5.8.9 Australia
  9.5.8.10 New Zealand
  9.5.8.11 Rest of APAC
 9.6. Middle East & Africa Biosensors Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Technology
  9.6.4.1 Electrochemical
  9.6.4.2 Optical
  9.6.4.3 Thermal
  9.6.4.4 Piezoelectric
  9.6.5 Historic and Forecasted Market Size By Application
  9.6.5.1 Medical
  9.6.5.2 Food and Beverage
  9.6.5.3 Environmental Monitoring
  9.6.5.4 Agriculture
  9.6.5.5 Industrial
  9.6.6 Historic and Forecasted Market Size By Product
  9.6.6.1 Wearable Biosensors
  9.6.6.2 Non-Wearable Biosensors
  9.6.7 Historic and Forecasted Market Size By End-User
  9.6.7.1 Point of Care Testing
  9.6.7.2 Home Diagnostics
  9.6.7.3 Research Laboratories
  9.6.7.4 Food Industry
  9.6.7.5 Environmental Monitoring
  9.6.8 Historic and Forecast Market Size by Country
  9.6.8.1 Turkiye
  9.6.8.2 Bahrain
  9.6.8.3 Kuwait
  9.6.8.4 Saudi Arabia
  9.6.8.5 Qatar
  9.6.8.6 UAE
  9.6.8.7 Israel
  9.6.8.8 South Africa
 9.7. South America Biosensors Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Technology
  9.7.4.1 Electrochemical
  9.7.4.2 Optical
  9.7.4.3 Thermal
  9.7.4.4 Piezoelectric
  9.7.5 Historic and Forecasted Market Size By Application
  9.7.5.1 Medical
  9.7.5.2 Food and Beverage
  9.7.5.3 Environmental Monitoring
  9.7.5.4 Agriculture
  9.7.5.5 Industrial
  9.7.6 Historic and Forecasted Market Size By Product
  9.7.6.1 Wearable Biosensors
  9.7.6.2 Non-Wearable Biosensors
  9.7.7 Historic and Forecasted Market Size By End-User
  9.7.7.1 Point of Care Testing
  9.7.7.2 Home Diagnostics
  9.7.7.3 Research Laboratories
  9.7.7.4 Food Industry
  9.7.7.5 Environmental Monitoring
  9.7.8 Historic and Forecast Market Size by Country
  9.7.8.1 Brazil
  9.7.8.2 Argentina
  9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research