The global biosensors market size is estimated to be USD 7.35 billion in 2021 and is expected to witness a CAGR of 9.2% during the forecast period. This growth can be attributed to factors such as rising demand for micro- and nano-sized diagnostic devices, rising prevalence of diabetes, increasing demand for biosensors for various applications in the medical field, and rapid advancements in the technology. Also, promising government initiatives for proteomics and genomics research is expected to propel the market. However, high price of the biosensors is expected to hinder the market growth.

By Application

Based on application, the market is segmented into medical, bioreactor, agriculture, food toxicity, environment, and others. The medical application can be further segmented into blood glucose, pregnancy testing, cholesterol, blood gas analyzer, drug discovery, and infectious diseases. In 2021, the medical segment accounted for the largest revenue share owing to its high demand for diagnostic purposes in the healthcare industry and also for the consumers. On the other hand, the agriculture segment is expected to grow at an attractive CAGR during the forecast period. This can be attributed to the use of biosensors to diminish the bioterrorism threats and decrease the loss of animals and livestock from any natural threat.

By Technology

Based on technology, the market is divided into electrochemical, thermal, optical, and piezoelectric technology. The electrochemical segment was the highest revenue-grossing segment in 2021 due to its high usage in the healthcare industry. This electrochemical technology offers several advantages including low detection limits, wide linear reaction range, high reproducibility rate, and high stability However, the optical segment is projected to grow at the fastest CAGR during the forecast period due to its versatile analytical coverage.

By End User

Based on end user, the market is categorized into Point-of-Care (PoC) testing, food industry, research laboratories, home healthcare diagnostics, and security, and bio-defense. In 2021, the PoC testing segment accounted for the highest revenue share due to the rapid advancements in robust technology, which helps in the diagnosis purpose. Although, the biosensors for the food industry are projected to grow at the highest CAGR during the forecast period owing to the demand for factors like hygiene analysis and reduction in internal costs.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This can be attributed to the well-developed healthcare expenditure and presence of several prominent manufacturers in the U.S. and Canada. The Asia Pacific is expected to exhibit the fastest CAGR over the forecast period owing to the increasing prevalence of diabetes, infectious diseases, and cancer; growing disposable income, and developing healthcare infrastructure in this region.

Competitor Insights

The key players operating in the biosensors market are Abbott Laboratories (US), Bayer AG (Germany), AZUR Environmental, Biosensor BV (Singapore), Cranfield Biotechnology Centre (UK), DuPont Biosensor Materials (US), Pinnacle Technologies Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Johnson and Johnson (US), Ercon Inc. (US), Strategic Diagnostics Inc. (US), LifeScan, Inc. (US), Sysmex Corporation (Japan), QTL Biosystems (US) and Molecular Devices Corp (US). The leading players operating in the biosensors industry are adopting various strategies including mergers & acquisitions, partnerships & collaborations, and new product launch to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The biosensors market report is categorized into the following segments and subsegments:

Biosensors Market, By Application (Revenue, 2021 to 2029, USD Billion)

Biosensors Market, By Technology (Revenue, 2021 to 2029, USD Billion)

Biosensors Market, By End-User (Revenue, 2021 to 2029, USD Billion)

Biosensors Market, By Region (Revenue, 2021 to 2029, USD Billion)

Scope of Biomaterials Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 15 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details