Biosensor Market Overview:
The global market report on the biosensor market includes a proper study of segmentation, competition, regions, and factors. In their report, Market Research Future (MRFR) revealed a chance of scaling past valuation of USD 35,729.14 million by 2025 at 9.7% CAGR during the forecast period covering 2019 to 2025.
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The biosensor market would benefit from various factors like increasing research investment, demand for a better monitoring system, need for improved assistance system for health professionals, technological support, and others are expected to inspire the global market growth for the biosensor segment. Its convenient use can also inspire better growth.
However, high initial price and inaccuracy in some devices may hold back the market growth in the coming years.
Biosensor Market Segmentation:
The global study of the biosensor market includes a proper discussion of segments like end user, technology, and application. These segments include several factors, details about volumes and values, and other scientific approaches that would ease the process of understanding the market.
By technology, the global study on the biosensor market includes thermal biosensors, optical biosensors, electrochemical biosensors, and piezoelectric biosensors.
By end user, the global discussion of the biosensor market includes a proper study of home diagnostics, point of care, food industry, research laboratories, and security and biodefense. The research laboratories segment would get influenced substantially by the growing investment for better end results and infrastructural developments.
By application, the study on the biosensor market includes segments like food toxicity, medical testing, environmental, industrial process, and agricultural testing. The point of care testing segment , as per the report, had a market valuation of USD 8,428 million in 2017.
Biosensor Market Regional Analysis:
The Americas would benefit from their infrastructural superiority and constant flow of investment in certain countries like the US and Canada. The regional market also allows easy integration of latest technologies, which would boost the market growth.
Biosensor Market Competitive Landscape:
Abbott (US), LifeSensors (US), Siemens Healthineers AG (Germany), TiaDoc Technology Corporation (Taiwan), Nova Biomedical (US), Medtronic (US), Johnson & Johnson Services, Inc. (US), Bayer AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), and i-SENS, Inc (South Korea) are some of the major companies involved in the global biosensor market. These companies build their base on top of strategic mechanisms like a merger, innovation, branding, tie-up, research funding, and others. MRFR recorded the recent moves made by these companies to understand how well the market could form in the coming days.
In July 2020, LifeSignals Group recently announced that it had received the FDA 510(k) clearance for its new product LifeSignals ECG remote monitoring patch platform. The company is based out of Fremont, California and developed a name for being a platform that facilitates a wireless monitoring system for healthcare professionals. This would help the professionals in gathering data using electrocardiography (ECG) and heart rate in various settings like hospitals, ambulatory, home, and healthcare.
In July 2020, ivWatch, LLC, known as a company to provide support with technological brilliance to improve patient safety and the effectiveness of intravenous (IV) therapy, announced that it had received issuance of two new patents in Japan and Australia. This has taken the company’s total patent count to 31. These patents encompass the technology utilized by ivWatch where it helps in segmenting blood perfusion caused by the patient’s motion and the presence of an infusate in the tissue.
The COVID-19 pandemic encourages the maintenance of a safe distance due to which the biosensor market is slated to surge notably in the coming years.
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