What Has Been The Evolution of the Biosensors Market in Recent Years?
The biosensors market has seen considerable growth due to a variety of factors.
• The biosensors market has seen rapid growth in recent years. It will grow from $34.63 billion in 2024 to $38.77 billion in 2025, with a CAGR of 12.0%.
This growth is largely due to an increased focus on preventive healthcare, the growing prevalence of chronic diseases, higher demand for point-of-care diagnostics, and broader applications in environmental monitoring and food safety.
What Are the Future Growth Projections for the Biosensors Market?
The biosensors market is expected to maintain its strong growth trajectory in upcoming years.
• The biosensors market is projected to grow rapidly, reaching $60.24 billion by 2029, with a CAGR of 11.6%.
This growth is fueled by the rise of wearable health devices, increased demand for rapid diagnostic tests, advancements in data analytics and connectivity, the emergence of precision medicine, a focus on environmental monitoring and food safety, and the growing applications in personalized nutrition and wellness. Major trends include greater demand for wearable biosensors, the expansion of point-of-care testing, AI and machine learning integration, growth in chronic disease management solutions, and the use of biosensors in agriculture and environmental monitoring.
What Are The Core Factors Supporting Growth In The Biosensors Market?
The rising prevalence of chronic disorders is expected to propel the growth of the biosensors market. Chronic disorders, such as diabetes and cardiovascular diseases, are increasing due to factors like sedentary lifestyles and poor diets. Biosensors allow for early detection and continuous monitoring of chronic conditions. For instance, in June 2023, The Lancet projected that global diabetes cases would rise from 529 million in 2021 to 1.3 billion by 2050, indicating growing demand for biosensor technology to monitor such conditions.
What Are The Major Segments Within The Global Biosensors Market?
The biosensors market covered in this report is segmented –
1) By Product: Wearable Biosensors, Non-Wearable Biosensors
2) By Technology: Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, Nano Mechanical Biosensors, Thermal Biosensors, Other Technologies
3) By Application: Medical, Food Toxicity, Bioreactor, Agriculture, Environment, Other Applications
Subsegments:
1) By Wearable Biosensors: Glucose Monitoring Biosensors, Heart Rate Monitoring Biosensors, Fitness And Activity Monitoring Biosensors, Oxygen Saturation (Spo2) Monitoring Biosensors, Blood Pressure Monitoring Biosensors, Electrochemical Biosensors For Personal Health, Smartwatches With Biosensor Integration
2) By Non-Wearable Biosensors: Point-Of-Care (POC) Biosensors, Lab-On-A-Chip (LOC) Biosensors, Immunosensors, Optical Biosensors, Enzyme-Based Biosensors, Microbial Biosensors, DNA Biosensors, Electrochemical Biosensors For Medical Diagnostics
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What New Trends Are Influencing The Biosensors Market?
Companies in the biosensors market are developing non-invasive products like real-time sweat patches for health monitoring. In December 2022, Nix Biosensors launched the Nix Hydration Biosensor, which provides real-time hydration data for athletes through a non-invasive sweat patch. This technology continuously monitors fluid and electrolyte levels, helping athletes maintain optimal hydration during physical activities.
Who Are the Key Players In The Biosensors Market?
Major companies operating in the biosensors market are:
• 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.
• Nova Biomedical
• Bio-Techne Corporation
• Sensirion AG
• Proteus Digital Health
• Acon Laboratories Inc.
• 908 Devices Inc.
What Is The Most Dominant Region In The Biosensors Market?
North America was the largest region in the biosensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biosensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
