A biosensor is an instrument that is sensitive to biological substances and converts its concentration into electrical signals for detection. Biosensors are immobilized bio-sensitive materials used as identification elements (including enzymes, antibodies, antigens, microorganisms, cells, tissues, nucleic acids and other biologically active substances) and appropriate physical and chemical transducers (such as oxygen electrodes, photosensitive tubes, field effects). An analytical tool or system consisting of a tube, a piezoelectric crystal, and the like, and a signal amplifying device, having the function of a receiver and a converter. At present, biosensors have been widely used in medical testing, food toxicity testing, industrial processing and monitoring, agricultural applications, environmental pollution control and so on.
According to a new report released by the world-renowned market research company PMR (Persistence Market Research), the global biosensor market will experience rapid growth in the next 6 years. The market value of this market in 2014 is 12.9 billion US dollars, which will reach 2020. The US$22.5 billion compound annual growth rate (CAGR) is 9.7%. Geographically, North America is the world's largest market for biosensors. It had a market capitalization of $5.7 billion in 2014 and is expected to reach $9.5 billion by 2020. The compound annual growth rate (CAGR) is 8.9% during the forecast period. The Asia Pacific region will be the fastest growing region due to the expanding medical insurance penetration rate, large population base and continuous upgrading of the health care system.
According to the report, the global biosensor market is experiencing significant growth due to the increasing demand for point-of-care testing (POCT). The rising incidence of chronic diseases and lifestyle-related diseases, the growing elderly population, the widespread use of biosensors in various industries, and the application of nanotechnology in the healthcare sector have helped drive the rapid growth of the global biosensor market. In addition, the emergence and growing demand for personalized medicines and non-invasive biosensors will drive the growth of the global biosensor market. However, strict regulatory requirements and reimbursement policies in the medical system will limit market growth, and the regulatory process in this area has not kept pace with the rapid development of new medical technologies.
According to technology, the biosensor market includes electrochemical, optical, piezoelectric, and thermistors; among them, electrochemical biosensors are the most commonly used technology in biosensors, and optical biosensors will become the fastest growing technology type. According to the application, the biosensor market can be divided into medical diagnosis, food toxicity detection, agricultural detection, industrial process control and environmental pollution control. Among them, medical diagnosis is the most popular application field of biosensors, and immediate detection (POCT) in medical diagnosis. It is the most widely used area for biosensors. By end user segmentation, the biosensor market can be divided into instant detection (POCT), home health diagnostics, research laboratories, security and biodefense, with security and biodefense becoming the fastest growing end user types.
The report pointed out that the main players in the global biosensor market include: Abbott, Siemens Medical, Nova Biomedical, Bayer, Johnson & Johnson, Medtronic, Roche and so on.
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