Increasing prevalence of several severe disorders across the globe has instigated the need for disease detection at early stages for obtaining appropriate treatment on time. This has also evoked the development of innovative therapeutic solutions which predominantly requires diagnostic tools. Biosensing technology in this regard, provides an important means of diagnosis which finds extensive application across healthcare and research institutions.

Considering the burgeoning product demand, biosensors market is projected to witness a meritorious growth in future by recording a significant valuation of more than USD 25 billion in 2020 by 2027.

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Established manufacturers in biosensors industry are continuously focusing on developing technologically advanced solutions to strengthen their product portfolio and gain a competitive edge in the market. For instance, in 2020, biotechnology and medical device company, Blink Science™ announced its plans to introduce a handheld biosensor device blinkTEST™ capable of immediately detecting COVID-19 as well as other disease biomarkers present in saliva. Apart from medical applications, biosensors for fitness purposes are also in high demand. This has urged the manufacturers to develop such devices to effectively meet the consumer demand. Citing an instance, in 2020, Abbott announced the launch of the first ever sport biosensor, Libre Sense Glucose Sport Biosensor. According to the company, this new biosensor has been designed especially for athletes as it helps them in monitoring the correlation between the glucose levels and their performance. Such developments in biosensor industry are opening new growth opportunities for the market.

Wearable biosensors are gaining massive traction from past few years owing to their superior features. The advantages of wearable biosensors include continuous monitoring of several parameters and greater convenience which does not hamper the daily activities of the users. Besides, emerging fitness trend among global population along with the launch of innovative wearables products is complementing the industry landscape further. Quoting an instance, in 2020, Philips announced the launch its next generation wearable biosensor developed specifically for early stage patient deterioration detection, including COVID-19 clinical surveillance. Considering these factors, wearable biosensors segment is expected to observe a substantial CAGR of 9.3% through 2027.

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The globe is currently witnessing a humongous demand for drug discover and infection control, which has potentially driven the demand for research laboratories worldwide. In this aspect, it would crucial to note that biosensors have now come handy for use in these researches as well as in monitoring of the side effects of a particular drug. In addition, adoption of biosensors in medicine, tissue engineering and nano technology is fostering the product demand which is providing positive growth prospects for the industry. Owing to the growing product adoption, research laboratories segment is estimated to register a notable valuation of USD 4.5 million by 2027.

Thermal biosensors also known as calorimetric biosensors, are manufactured by assimilating biosensor materials into a physical transducer. These biosensors find extensive usage in several applications such as determination of multianalyte, enzyme activity, clinical monitoring, process monitoring, environmental monitoring, hybrid sensing, etc. which is positively influencing the segment growth. For the records, in 2020, thermal segment had secured an appreciable revenue share of around 9.0% and is expected to witness significant growth over subsequent years. 

Biosensors find massive usage for drug discovery applications as they help in understanding the complexity of drug specificity and drug interactions. For instance, enzyme-based biosensors help in quantification of drug interactions and pharmacokinetics which improves the overall process of drug discovery. Besides, increasing pervasiveness of rare and chronic diseases has urged biopharmaceutical companies to focus on the development of new drugs which is offering lucrative opportunities for biosensors business. According to the report, in 2020, drug discovery application segment had recorded substantial valuation of over USD 900 million and is anticipated to observe robust growth in the future.   

Growing geriatric population in Asia Pacific who are susceptible to chronic diseases like diabetes has instigated the usage of biosensors for monitoring the blood glucose levels. Besides, rising incidences of cardiovascular disorders in the region due to increasing adoption of unhealthy lifestyle and eating habits is fueling the demand for biosensors for conducting various diagnostic tests. Taking the present COVID-19 situation into consideration, need for effectively monitoring the infection control and side effects of vaccine or drugs has evoked the product demand in the region further. In light of increasing product demand in the region, biosensors market in Asia Pacific is expected to record a lucrative CAGR of 9.5% through 2027.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Biosensors market industry 360⁰ synopsis

2.1.1    Business trends

2.1.2    Type trends

2.1.2.1    Wearable biosensors

2.1.2.2    Non-wearable biosensors

2.1.2.3    Growth trends in biosensors type

2.1.2.4    Latest type trends

2.1.2.4.1    Chem-Phys Patch Device

2.1.2.4.2    Wearable Imaging

2.1.2.5    Some of the recent launches in wearable biosensors industry

2.1.3    Technology trends

2.1.3.1    Electrochemical biosensors

2.1.3.2    Optical biosensors

2.1.3.3    Thermal biosensors

2.1.3.4    Piezoelectric biosensors

2.1.3.5    Growth trends in biosensors technology

2.1.3.6    Latest technology trends

2.1.3.6.1    Nano biosensors : The future of disease diagnosis

2.1.3.6.2    Application of biosensors in animal healthcare

2.1.3.7    Some of the recent launches in the field of biosensors technology

2.1.3.8    Growth potential analysis for latest biosensor technologies

2.1.3.9    Forecast

2.1.4    Application trends

2.1.4.1    Blood glucose testing

2.1.4.2    Cholesterol testing

2.1.4.3    Blood gas analysis

2.1.4.4    Drug discovery

2.1.4.5    Infectious disease testing

2.1.4.6    Pregnancy testing

2.1.4.7    Growth trends in biosensors application

2.1.4.8    Latest medical application trends

2.1.4.8.1    Monitoring glucose in other physiological fluids

2.1.5    End-use trends

2.1.5.1    Point of Care Testing

2.1.5.2    Home healthcare diagnostics

2.1.5.3    Research laboratories

2.1.5.4    Growth trends in biosensors end-use

2.1.6    Regional trends

2.1.6.1    North America

2.1.6.2    Europe

2.1.6.3    Asia Pacific

2.1.6.4    Latin America

2.1.6.5    Middle East and Africa

2.1.6.6    Growth trends in biosensors industry as per geography

2.1.6.7    Latest trends

2.1.6.7.1    France

2.1.6.7.2    China

2.1.6.7.3    Israel

2.1.6.7.4    UK

2.1.6.7.5    Finland

2.1.6.7.6    India

2.1.6.7.7    Switzerland

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