Electrochemical biosensors Market 2017 - Market Size, Analysis, Share, Research, Growth
Market Research Future.com add new report of “electrochemical biosensors Market Research Report – Global Forecast To 2022” it contains Company information, geographical data and Table of Content
Electrochemical
biosensors Market Information, by application (diagnosis, monitoring and
others), by end user (point of care testing, diagnostics center, research
laboratories and others) Forecast Till 2022
Market Scenario:
Market Scenario:
The
Global electrochemical biosensors market, is projected to grow at a CAGR of
9.7% and is expected to reach USD 23707.2 million by 2022. Globally North
America accounted for the largest market share in 2016.
Over the
past few years nanotechnology has becoming increasingly essential in the field
of biosensors. The performance and sensitivity of biosensors is incredibly
enhanced with the combination of nanomaterials into their construction. The
biosensors works on various technologies which include electrochemical
biosensors, optical biosensors, thermal biosensors and piezoelectric
biosensors. This report by MRFR majorly focuses on the electrochemical
biosensors which holds the largest market share among all others biosensor
technologies. The Electrochemical biosensors plays a major role in the field of
healthcare which include applications such as diagnosis, patient monitoring and
many others. The end user such as point of care testing, diagnostics centers,
research laboratories and various others influence the growth of the market.
The global
market of electrochemical biosensors is growing rapidly at the CAGR of around
9.7% for the forecasted period. The growth of the market is likely to driven by
increasing diabetic population, rising prevalence of chronic and lifestyle
induced disease, increasing demand for POCT, increasing application of
biosensors in various industries. However, factors such as strict regulatory
requirements, reimbursement policies issues in healthcare systems is further
hampering the market.
Key Players for Electrochemical
biosensors Market:
Some of
the key players in this market are: F. Hoffmann-La Roche AG, Medtronics, Bayer
AG, Abbott Laboratories, I-SENS, Inc, Siemens Healthcare GmbH and others.
Segments: Global Electrochemical biosensors
market has been segmented on the basis of applications which comprises of
diagnosis, monitoring and others. Furthermore on the basis of end users the
market is segmented into point of care testing, diagnostics center, research
laboratories and others.
Key
Findings
North America accounted for the largest market
share with 43.0% of the global electrochemical biosensors market in the year
2016.
By end users point of care testing market holds the
largest market share.
By application diagnosis segment accounted for the
largest market share and expected to reach 12689.9 million in the year 2022.
Asia-Pacific pacific projected to be the fastest
growing region with a growth rate of 10.0% for the forecasted period.
Regional Analysis of
Electrochemical biosensors Market:
North
America is the largest market of global electrochemical biosensors market which
is expected to grow at the CAGR of 9.4%. In North America, electrochemical 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 higher as 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.
Europe is
the second largest market for electrochemical biosensors which is expected to
grow at a CAGR of 9.8%.
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.
Asia Pacific region is expected to be fastest growing region of this
market. The electrochemical biosensors market in Asia-Pacific region is growing
due to increasing awareness of clinical outcomes, large population base, rise
in geriatric population, increase in diabetic population and technological
advancement in medical devices and equipment. The awareness of various diseases
and requirement of high quality care is increasing day by day. For instance,
according to a study conducted by National Centre for Biotechnology Information
(NCBI) in 2012, approximately 60% of Asian population was suffering from
diabetes and the prevalence of diabetes is increasing. In addition,
Asia-Pacific has become one of the attractive markets for medical device
companies due to low regulatory requirements and low cost manufacturing of
devices.
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