Call For Nature- As Well As User-Friendly Diagnostic Devices to Drive the Biosensors Market

Biosensors and bioelectronics abbreviation is as per the ISO4 standards as “Biosens. Bioelectron”. This standardized abbreviation is to abstract, index, and refer to biosensors and bioelectronics. Biosensors are looked upon as analytical devices converting biological response into electrical signal. They happen to be independent of the physical parameters like pH as well as temperature and, as the name suggests, be reusable. The miniature version called “nano biosensors” is also doing the rounds, especially in food production and agriculture due to better sensitivity and speed.

Biosensor market size growth could be gauged from the fact that biosensors market is expected to witness a CAGR of more than 7% in the next 10 years.

Biosensor Market Segmentation

Biosensensor market could be segmented based on technology as optical biosensors, electrochemical biosensors, piezoelectric biosensors, and thermal biosensors. End-user-wise, it’s home diagnostics, point-of-care, research laboratories, security and biodefense, and food industry. Application-wise, it’s food toxicity, medical testing, agricultural and environmental testing, and industrial process.

Wearable Biosensor Market

A wearable biosensor consists of transducer, output devices, and bioreactor system. This type of biosensor does monitor, record, and transmit the physiological signals, so as to offer much better healthcare experience on the whole. Also, it needs to be noted that wearable biosensors prove to be a perfect solution wherein the workers get exposed to dangerous conditions on direct basis as continuous tracking of health on their part

Glucose Biosensor Market

Glucose biosensors, as the name suggests, are being used on an extensive note to measure the concentration of glucose all across those infected with diabetes. As per the WHO, close to 347 Mn people all over have been diagnosed with higher blood sugar levels. As such, there would be no stoppage to the glucose biosensor market in the near future.

Electrochemical Biosensor Market

Electrochemical biosensors include DNA electrochemical biosensors, enzyme-based electrochemical biosensors, aptamer-based biosensors, and thin-film electrochemical biosensors. The medical applications include diagnosis of antigens or viral infections in a human. Multi-dimensional use of electrochemical biosensors (including the non-medical ones as stated below) are bound to help the market stand in a good stead.

Optical Biosensor Market

Optical biosensor market is poised to grow at a noteworthy rate in the upcoming period with optical biosensors enabling label-free, real – time, and direct detection of chemical and biological substances. The multi-disciplinary approaches applied over here include microelectrochemical systems (MEMs), microelectronics, molecular biology, nano/micro-technologies, chemistry, and biotechnology. The efficiency on the part of these approaches is likely to bolster the optical biosensor market.

Biosensor Market By Type

Biosensors market by type consists of embedded device and sensor patch. From these, embedded devices dominate the market as they have a variety of uses like in food & beverages, home diagnostics, point-of-care, environmental monitoring, research lab, and biodefense. IoT has transformed healthcare by enabling real-time monitoring, tracking, and alerting, which, in turn, fosters precision, hands-on treatments, timely medical intervention, and improvised patient care. It has been observed that dearth of doctors in far-flung areas could be made up by IoT-enabled medical devices.

Biosensor Market By Technology

By technology, the biosensors market spans electrochemical biosensors, thermal biosensors, piezoelectric biosensors, and optical biosensors. Out of these, electrochemical biosensors hold the largest market share as they find their presence in the non-medical applications as well. These are inclusive of quality check in the food and beverages and environmental monitoring.

Covid-19 Impact On Biosensors Market

The outbreak of Covid-19 has changed equations for certain verticals forever. The demand for biosensors has surged since Mar 2020, more so due to increasing demand for home-based point-of-care devices. This trend is expected to continue even going forward, as social distancing would be advised to be on the safer side.

Plus, at present, several clinically used methods regarding diagnosis in hospitals do involve an indispensability of biosensor-based technologies. Some of them are being effectively used for diagnosing Covid-19. So, it could be inferred that the ongoing pandemic has turned the tide in favour of biosensor market.

Biosensor Market Potential

The key players deciding on the biosensor market potential include

• Abbott Laboratories, Inc.
• Siemens Healthcare.
• Nova Biomedical Corporation.
• Bayer AG.
• Johnson and Johnson.
• Medtronic, Inc.
• Hoffmann-La Roche, Ltd

In all, the biosensors market is all set to sweep the healthcare vertical in the forecast period.