Biosensors Trends : USD 27.06 Billion by 2022

Biosensors Trends : Increasing Use of Biosensors to Monitor Glucose Levels in Individuals With Diabetes
The market growth is driven by the continuous technological advancements in the biosensors ecosystem, increase in the use of biosensors for nonmedical applications, lucrative growth in POC diagnostics, and rise in the demand for glucose monitoring systems.

The market is expected to be valued at USD 27.06 Billion by 2022, growing at a CAGR of 8.84% between 2017 and 2022.

Blood glucose monitoring plays a crucial role in the management of diabetes. Glucose biosensors provide real-time information on the changes in glucose concentration. The glucose biosensors technology helps individuals maintain normal blood glucose levels. The rising prevalence of diabetes worldwide, technological advancements in self-monitoring of blood glucose, and growing awareness about POC testing are the key factors boosting the demand for glucose monitoring biosensors. Among all the applications, glucose monitoring held the largest size of the biosensors in 2016. The increasing number of people suffering from diabetes among the urban population is boosting the demand for glucose monitoring biosensors.

Some of the major players operating in the biosensors market include Abbott Point of Care Inc. (US), Medtronic, Inc. (US), F. Hoffman-La Roche Ltd. (Switzerland), Siemens AG (Germany), LifeScan, Inc. (US), LifeSensors Inc. (US), Nova Biomedical Corp. (US), Acon Laboratories Inc. (US), Universal Biosensors (Australia), Pharmaco-Kinesis Corporation (PKC) (US), Bayer Healthcare AG (Germany), Biacore (UK), Bio-Rad Laboratories Inc. (US), Biosensors International Ltd. (Singapore), Ercon, Inc. (US), DuPont (US), and Sysmex Corporation (Japan).