The Biosensor Market report titled “Biosensor Market Research Report – Forecast to 2023” have been added to the Huge Database of MarketResearchFuture.com. The Global Biosensors Market report explores the Industry by applications is segmented into diagnosis, patient monitoring and others. Diagnosis segment accounted for the largest market by application. The major factors that influence the growth of the market are the need for analyses in the clinical area with reliable analytical methods and devices.
The Global Biosensors Market By End User is majorly segmented into point of care testing, diagnostics center, research laboratories and others. The point of care segment holds the largest market by end user in 2016. Biosensors are next generation analytical tools for point of care testing. Demand for point of care testing is increasing due to increasing requirement of portable and integrated devices. It helps to perform tests close to the patient and also provide immediate results outside the laboratory. It is an important tool used in intensive care units, clinics, emergency rooms and operating theatre. It also helps to improve patient care through remote patient care monitoring. Further, it helps clinicians to diagnose the cause of disease for immediate management. Thus, increasing demand for point of care testing would reduce the healthcare cost and helps to obtain precise and quick results of analytical tests.
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Key Players for Biosensor Market:
Abbott Laboratories Inc., F. Hoffmann-La Roche Ltd., Bayer Healthcare, Johnson & Johnson, Medtronic, Inc., and Siemens Healthcare, Nova Biomedical Corporation, LifeSensors Inc., TiaDoc Technology Corporation and I-SENCE Inc.
Global Biosensors Market – Regional Analysis
The Global biosensors market, on the basis of regions is divided into North America, Europe, Asia Pacific and Middle East and Africa. North America is expected to command the largest market share due to advanced technologies continuously on rise in these countries. Europe accounts for the second largest. Asia Pacific with lots of opportunity and continuously growing economies, is expected to be the fastest growing segment. Majorly due to recent developments in healthcare and improving economies and disposable income per individual. Middle East and Africa with less economic developments and extremely low income accounts for least market share in 2015 but is expected to grow with the increasing investment in research and development in the countries.
The North America Biosensor market is majorly divided in two countries which include U.S and Canada. In North America, biosensor market is driven due to increasing health awareness, rising chronic and lifestyle diseases, technological developments in healthcare applications, and appropriate insurance coverage.
Usage of biosensor technology in North America is high compared to other regions of the world due to technological advancements and broader application areas in different industries. Since, the healthcare expenditure is high in North America, biosensor devices are used extensively for accurate, reliable and quick results for early detection and prevention of diseases.
Similarly, according to European Federation of Pharmaceutical Industries and Associations, in 2012, the North American pharmaceutical market accounted for about 41% share of the total pharmaceutical market. This large market invests immensely in R&D of new drugs and thereby drives the demand for various biosensor devices for toxicity testing in the drug development process. Since, these biosensors devices are used in drug development and diagnoses, they are required to abide by certain regulations for efficacy and safety.
Europe holds the second largest market position in terms of market share of global biosensors market majorly due to rise in geriatric population, increase in lifestyle associated diseases, increasing awareness of various diseases and rise in diagnostic requirements. For instance, according to IDF in 2013, approximately 52 million people are suffering from diabetes in Europe.
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1 RESEARCH SCOPE AND METHODOLOGY
1.1 Market Definition
1.2 Market Breakdown By Different Categories
1.3 Market Breakdown By Geography
1.4 Research Methodology And Sources
2 . EXECUTIVE SUMMARY
2.1 Key Findings
2.2 Research Summary
3 MARKET OUTLOOK
3.2 Trends In The Market
3.2.1 Rising Product Innovation
3.2.2 Technological Advancement Of Biosensors Leading To Miniaturizations Of Sensors
3.3 Opportunities In The Market
3.3.1 Opportunity From Increasing Demand Of Personalized Medicine
3.4 Factors Driving The Market And Its Impact On Market Forecast
3.4.1 Rising Aging Population
3.4.2 Increasing Diabetic Population
3.4.3 Rising Prevalence Of Chronic And Lifestyle Induced Disease
3.4.4 Increasing Demand For POCT
3.4.5 Increasing Application Of Biosensors In Various Industries
3.4.6 Impact Analysis Of Drivers On Market Forecast
3.5 Factors Hindering The Market And Its Impact On Market Forecast
3.5.1 Strict Regulatory Requirements
3.5.2 Reimbursement Policies Issues In Healthcare Systems
3.5.3 Impact Analysis Of Restraints On Market Forecast
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