The bio-electronics & biosensors market can be segmented on the basis of application, technology and end-use. On the basis of application the industry can be segmented into food toxicity detection, medical applications, industrial process control and agriculture, environment. Based on technology the industry can be segregated into electrochemical biosensors, thermal biosensors, piezoelectric biosensors and optical biosensors. On the basis of end-use the industry can be segmented into point of care testing, home healthcare diagnostics, food industry and research laboratories.
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Global bio-electronics & biosensors market size was valued at USD 11.39 billion in 2013. It is likely to be estimated over USD 25 billion by 2023.and is likely to grow at a CAGR of over 10%. Proliferating prevalence of target diseases is expected to drive industry growth over several forthcoming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Abbott Point of Care
- Hoffmann-La Roche Ltd
- Nova Biomedical Corporation
- Siemens Healthcare
As of 2013, electrochemical biosensors market was valued to be the major technology sector of the industry. Attributes such as robustness, excellent detection limits along with easy miniaturization are expected to fuel demand for these sensors. In addition, these devices play a vital role in research initiatives that involve accurate examination of contents of a organic sample.
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Optical biosensors market is projected to experience healthy growth over the forecast period. These devices are anticipated to modernize the ecological monitoring as well as untimely warning field by augmenting the capability to calculate and differentiate the environmental contaminants. This is projected to drive the industry growth for bio-electronics & biosensors market over the several upcoming years.
North America is expected to gain the dominance due to large number of application in numerous healthcare sectors is expected to boost the demand in the region. Proliferating significance of numerous serious diseases owing to unhealthy lifestyle, presences of many R&D units and increasing adoptability of sophisticated products by scientists, patients and clinicians are forecast to drive the industry growth over coming years. Asia Pacific bio-electronics & biosensors market is likely to witness significant growth owing to improving healthcare infrastructure and rapid economic growth over the forecast period.
Key industry participants occupying major bio-electronics & biosensors market share include, Abbott Point of Care, F. Hoffmann-La Roche Ltd, LifeSensors, AgaMatrix, Nova Biomedical Corporation and Siemens Healthcare. The industry is technology driven and hence, manufacturers are anticipated to continuously engage in research & development focused on development of highly developed biosensors and bio-electronics over the forecast period.