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Biosensors Market - Innovations & Competitive Analysis - Forecast - Facts and Trends
Biosensors Market - Innovations & Competitive Analysis - Forecast - Facts and Trends
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Presence of several players in the global biosensors market makes it highly competitive and
fragmented. These players collectively dominate the dynamic of the market influencing the rate of
growth substantially. However, tough competition also results in bullish growth in global
biosensors market.
In order to maintain their dominance in the market, players are investing a handsome amount of
their budget in research and development. These developments are helping the market to witness
innovative products and new solutions which in turn is fueling the growth of the global biosensors
market.
As a result of new product launch, the global biosensors market is projected to witness a revenue
generation of US$ 9.2 bn in the forecast period of 2014 to 2020. This revenue generation is the result
of opportunities such as incorporation of IoT in disease diagnosis, dependency on data, and
deployment of AI models to analyze the reaction between sample and anlytes, captured by the
players of global biosensors market.
Since the competition is tough, the players using new technologies to strengthen their grip on the
global biosensors market. For instance, OnetouchVerio flex blood glucose monitoring system by
Johnson & Johnson helped the company to redefine the conventional methods of blood sugar
monitoring in 2016. This allowed the company to acquire top position in the global biosensors
market in the coming year between 2014 and 2020.
The electrochemical biosensors segment under the technologies category is expected to remain
dominant in the forecast period of 2014 to 2020. The segment covered 70% of the total share of the
global biosensors market in 2013. The segment is projected to follow same trend in present forecast
period. The factors responsible this high magnitude growth are adoption of new biosensors for
early and fast diagnosis of the diseases such as diabetes and tuberculosis. Moreover, the dominance
of the segment is also attributed to the growing adoption of electrochemical biosensors by the
researchers to identify the presence of organic organisms in the substrates.
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8/6/2021 Biosensors Market – Innovations & Competitive Analysis – Forecast – Facts and Trends
North America is expected to remain dominant in regional front of global biosensors market. This is
because of the presence of several pharmaceutical work units coupled with favorable
reimbursement policies in the U.S. and Canada. Moreover, presence of several technology giants in
the region also fuels the dominance of North America in global biosensors market in the forecast
period of 2014 to 2020.
The study presented here is based on a report by Transparency Market Research (TMR), titled,
“Biosensors Market (Technologies: Electrochemical, Optical, Thermal, Piezoelectric; Applications:
Medical, Food Toxicity Detection, Industrial Process Control, Agriculture, Environment and Others;
and End Users: Point of Care Testing, Home Healthcare Diagnostics, Research Laboratories,
Security and Bio-defense, and Food Industry) – Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2014 – 2020.”
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