Expanding urbanscape and changing economies have enriched people with more disposable income than ever. This has changed the regular lifestyle considerably, and resultant sedentary behaviors have adversely impacted lives. As a result, gadgets such as electrochemical biosensors have started proliferating the market. Adverse effects have triggered health-related concerns, and electrochemical biosensors are serving individuals just by coaxing that concern. The global electrochemical biosensor market is expecting a 9.7% CAGR during the forecast period (2014-2022). Market Research Future (MRFR) in their extensively studied report claims that the market can easily climb up to a valuation of USD 23707.2 million by 2022. The report further discusses elaborately market drivers such as healthcare for patient monitoring or in agriculture to assess diseases in crops and in the food industry to detect the level of toxins, chemicals, and pathogens.
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However, the market can face a few bumps in the coming years. Strict regulatory requirements and weak reimbursement policies can dampen the market growth. But, its easy-to-use and is perfect for constant monitoring which can give the product market a head up.
Researchers from Amity University, Noida, Jamia Millia Islamia University, Delhi and Maharishi Dayanand University, Rohtak have developed a biosensor technique based on molybdenum disulfide nanosheets with features such as scanning electron microscopy, transmission electron microscopy, UV-visible spectroscopy, Raman spectroscopy and X-ray diffraction to detect Chikungunya.
Public Services and Procurement Canada (PSPC), a government initiative of Canada, is assisting FREDsense Technologies for its Field Ready Electrochemical Detector (FRED). The model is portable and will help researchers to measure contaminants in water using an electrochemical biosensor.
The global electrochemical biosensor market can be segmented by applications and end-users.
Based on applications, the market includes diagnosis, monitoring, and others.
By end-users, the market includes point of care testing, diagnostics center, research laboratories, and others. Point of care testing has almost a 45.2% share of the global market.
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Region-specific analysis of the market spans across North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
With the largest revenue share, North America is the global leader in this market, and an expected CAGR of 9.4% can ensure their future market dominion. The region has high health awareness and also a huge patient pool suffering from chronic and lifestyle diseases which are further boosting the infrastructural development of the sector. At the same time, insurance coverage for various diseases is amply backing the amount invested in this sector. Electrochemical biosensor’s accurate, reliable and prompt results have helped the market to bloom.
Europe with similar infrastructural benefits is expected to have considerable market growth. A CAGR of 9.8% seems easily achievable for the region. The APAC is expected to be the fastest growing region during the forecast period. Rising geriatric population and a huge patient pool suffering from chronic diseases are going to spur the regional market growth.
The market is fragmented with several big and small names coming together. Most of them are eyeing for market expansion and cross the regional territory to enjoy a broader competitive landscape. The global market has several players who are employing strategies that include new product launches, collaborations, mergers, and acquisitions that can ensure market growth.
Some of the key players in this market are F. Hoffmann-La Roche AG, Medtronic, Bayer AG, Abbott Laboratories, I-SENS, Inc, Siemens Healthcare GmbH and others.
Table Of Content
1. Report Prologue
2. Market Introduction
3. Research Methodology
5. Market Factor Analysis
6. Global Electrochemical Biosensors Market , By Application
7. Global Electrochemical Biosensors Market , By End User
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