The biosensors market is valued at $ 25.5 billion in 2021 and is anticipated to achieve $ 36.7 billion by 2026. It’s anticipated to develop at a CAGR of seven.5% from 2021 to 2026

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  The biosensors market is valued at $ 25.5 billion in 2021 and is expected to reach $ 36.7 billion by 2026.  It is expected to grow at a CAGR of 7.5% from 2021 to 2026

New York, April 19, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of Report “Biosensors With COVID-19 Impact By Type, Product, Technology, Application, and Region – Global Forecast to 2026” – https: / /www.reportlinker.com/p04838915/?utm_source=GNW
Nanomaterials such as carbon nanotubes and indium oxide nanowires are often used to manufacture biosensors or nanobiosensors based on nanotechnology. Nanobiosensors have revolutionized the future of disease diagnosis. They are gaining in importance in areas such as catalysis, optics, biomedicine, mechanics, magnet and energy science.
The cost pressures are adversely affecting the growth of the global POC market. This is due to reimbursement cuts and the lack of adequate budgets.

In 2013, for example, the US government passed the Health Reform Act, according to which manufacturers have to pay a high annual excise tax of 2.3% on medical devices. Similarly, France has specifically targeted medical devices to cut costs in order to recover from the recession. The 2013 French budget included price cuts of $ 157.6 million for the medical sector (including POC), resulting in savings of $ 102.8 million in outpatient care and $ 54.8 million in hospitals. Global medical device spending (including POC) is also at risk as the list of reimbursable health products has declined. These factors put pressure on the global medical device industry. As a result, manufacturers find it increasingly difficult to support prices and rule out margin erosion as competition increases. Price reduction measures for medical devices, including POC diagnostics, will therefore represent a central challenge for the growth of the market in the coming years.

Sensor Patch Devices: The fastest market for biosensors.
Sensor patches are devices that are attached to a human body to monitor a range of vital signs and provide specific treatments when needed. Sensor patches are categorized under wearable devices with embedded intelligence, connectivity, and improved usability.

Sensor patches offer unique capabilities for monitoring conditions / activities, feedback, and activation / delivery services such as: B. drug delivery or stimulation, localization, identification, personal contextual notifications, information display and virtual assistance. In simpler terms, these devices can monitor: document and enhance life, and they can be used to assist people with specific professional and personal activities.

These devices also help to send information directly to the nursing staff and to remotely monitor patients and detect diseases at an early stage.

Wearable Biosensors: The fastest product segment in the market for biosensors.

Wearable biosensors have attracted significant attention because of their potential to change the classic concepts of medical diagnostics and continuous health monitoring. Wearable biosensor applications are aimed at converting centralized hospital supply systems to home personal medicine and reducing the cost and time of diagnosis in healthcare.

Today we can see wearable biosensors bringing a wave of innovation to society. Their convenience and better use can enable new levels of real-time exposure to a patient’s health.

This real-time data availability enables better clinical decisions and leads to better health outcomes and more efficient use of health systems. For human society, wearable biosensors can help detect health events early and avoid hospital stays.

Such events are expected to fuel wearable biosensors market growth.

Home Diagnostics: Fastest Growing Application in the Market for Biosensors
Home diagnostics is not limited to just checking body weight and measuring body temperature during illness, but also includes monitoring health and fitness at home without the intervention of doctors. Tests to monitor blood sugar levels, fertility, cholesterol, HIV, vitamin D, influenza, and testosterone can be done at home by taking a small sample and loading it into a test cartridge with biosensor units.

These biosensor units are intelligent enough to capture the information and transfer it to the consumer’s smartphone via Bluetooth. They provide instant test results and suggestions for improving health. Home diagnosis offers various advantages such as data protection, convenience and ease of use, and low costs.

North America: The leading region in the global biosensors market.

North America is projected to account for the largest size of the global biosensors market from 2021 to 2026. The presence of major industrial players and the early adoption of new technological advances such as nanotechnology are the main factors driving the growth of the biosensor market in North America.

The growth of the market is mainly due to the increase in funding for research and development of medical devices containing biosensors. Medical device research and development largely depends on funding and grants.

For example, Senseonics Holdings (US), a medical technology company, raised $ 41 million in 2017 to commercialize its Eversense continuous glucose monitoring system and support research and development for versions of the next generation sensor. Similar to 2016, Endotronix (US), a developer of wireless and implantable pressure sensors, raised $ 32 million in a Series C funding round.

These investments led to the development of biosensors for a range of medical devices, which drove the market in historical times.
The study includes insights from various industry experts ranging from suppliers to tier 1 companies to OEMs. The division of the area codes is as follows:
• By type of company: Tier 1 – 40%, Tier 2 – 25% and Tier 3 – 35%
• By title: C-level executives – 35%, directors – 28% and others – 37%
• By region: North America – 48%, Europe – 22%, APAC – 20%, RoW – 10%
Abbott (USA), Roche (Switzerland), Medtronic (Ireland), Bio-Rad Laboratories, Inc. (USA), DuPont (USA), Biosensors International Group, Ltd. (Singapore), Cytiva (Great Britain), Dexcom, Inc. (USA), Lifescan IP Holdings, LLC (USA), Masimo (USA), Nova Biomedical (USA), Universal Biosensors (Australia), ACON Laboratories, Inc. (USA ), CARDEA BIO INC. (USA), Conductive Technologies (USA), EarlySense (Israel), Innovative Sensortechnologie IST AG (Switzerland), LifeSignals (USA), NeuroSky (USA), Pinnacle Technology Inc. (USA), SD Biosensor, INC. (South Korea), VitalConnect (USA) and Xsensio (Switzerland) are some of the key players in the biosensors market.

Research reporting:
The report segments the Biosensors market and predicts its size by value based on Type (sensor patch, embedded device), product (wearable biosensors, non-wearable biosensors), technology (electrochemical, optical, piezoelectric, thermal, nanomechanical), application (POC, Home Diagnostics, Research Labs, Environmental Monitoring, Food and Beverage, Biodefense) and Region (North America, Europe, APAC and RoW).
The report also provides a comprehensive view of market drivers, restraints, opportunities, and challenges in the Biosensors market. In addition to the quantitative aspects of these markets, the report also deals with qualitative aspects.

Main benefits of purchasing the report
The report will assist the market leaders / new entrants in this market to have information on the closest approximations to sales figures for the overall market and sub-segments. This report will help stakeholders and gain more insights to better position their businesses and plan an appropriate start to go-to-market strategies.

The report also helps the stakeholders get the pulse of the Biosensors market providing them with intelligence regarding key market drivers, restraints, challenges, and opportunities. The report also covers the impact of COVID-19 on the Biosensors Market.
Read the full report: https://www.reportlinker.com/p04838915/?utm_source=GNW

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