Biosensors are analytical devices which are used for acquiring analytical information using biological samples. Biosensors consist of a biological recognition unit and transducer.
The biological recognition unit interacts with bio-elements such as enzymes and antibodies, whilst the transducer changes the property of bio-elements into an electrical signal. Biosensors are applied in diverse fields such as Medicine, food toxicity detection, Agriculture and Biodefense.
Biosensors are available at low-cost, render quick results, are easy to operate, and are portable. This has led to the rapid adoption of Biosensors in various fields like medicine, agriculture and environment monitoring.
The increase in demand of point-of-care diagnostics, growing prevalence of diabetes and increasing geriatric populations, are the key factors, which would drive the growth of global biosensors market, during the analysis period. The advancement in the field of nanotechnology, has facilitated the innovation of advanced products like noninvasive biosensors in the market.
This has created numerous opportunities for new as well as existing players in the market. Factors restraining the market growth are stringent regulatory environment, safety concerns regarding biosensors used in research laboratories, point of care testing, home healthcare diagnosis and bio-defense.
The global biosensors market, is segmented on the basis of technology, application, product type and geography. The technologies considered, in this report include Electrochemical Biosensors, Optical Sensors, Thermal Biosensors, Piezoelectric Sensors and Others (Field Effect Transistor).
Based on applications, the market is classified into Medical, Food Toxicity Detection, Agriculture, Industrial Process Control, Environmental Monitoring and Others (Defense, drug abuse prevention). Based on product type, the market is classified into Wearable Biosensors and Non Wearable Biosensors.
Wearable Biosensors are further classified into Eye wear, Wrist Wear, Body Wear, Foot Wear Neck Wear and Others (Biosensor rings). Geographically, the market is segmented across four regions namely North America, Europe, Asia Pacific and LAMEA.
One of the strategies adopted by major market players is collaboration. For instance, in 2014, Universal Biosensors collaborated with Siemens.
This collaboration enabled the companies to launch the product Xprecia Stride, which is a Coagulation Analyzer for the point-of-care diagnostics. The companies profiled in this report are Abbott Laboratories, LifeScan, Siemens Healthcare, AgaMatrix, Nova Biomedical Corporation, Bayer, Johnson and Johnson, Medtronic, Hoffmann-La Roche and Animas Corporation.
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