The research report on biosensors market categorizes the global market by product type (Wearable Devices and Non-Wearable Devices), by technology (Optical, Thermal, Electrochemical, Piezoelectric, and Others), by application, and by region
A biosensor is a device that measures biological or chemical reactions by generating signals proportional to the concentration of an analyte in the reaction. Biosensors are largely employed in applications such as disease monitoring, drug discovery, disease-causing micro-organisms, and markers that are indicators of a disease in body fluids such as blood, urine, saliva, and sweat. Pregnancy tests and glucose monitoring sensors are the two main examples of very successful biosensor devices.
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Advancement of biotechnology in genetics, bioinformatics, and medicine has fueled growth of biosensors market, thus allowing early diagnosis and better treatment outcomes of diseases such as cancer and diabetes. Moreover, point-of-care biosensors aid in sensitive and rapid detection of target analytes, which is important in the diagnosis of diseases such as diabetes, cardiovascular and infectious diseases, and cancer and it provides a cost-effective option to the patient.
Increasing prevalence of diabetes and cardiovascular diseases, and increasing demand for cost-effective, disposable, and user-friendly devices are the factors driving growth of the biosensor market. Biosensors are used on a routine basis by diabetic patients to check the blood sugar level, as these devices allow easy monitoring and self-testing, thus aiding in diabetes management. According to the Global Diabetes Community, 2017, around 422 million adults are living with diabetes globally, where the number is expected to escalate to around 642 million by 2040. Also, according to the American Heart Association, 2016, cardiovascular diseases account for 17.3 million deaths every year globally, where an estimated 23.3 million people are expected to die from CVD by 2030, thus illustrating the rising need to adopt devices offering timely diagnosis of craniological disorders.
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