Pune, India, July 31, 2019 (GLOBE NEWSWIRE) -- Global Smart Biosensors Market accounted for USD 12,000 million and expected to register 7.64% CAGR during the forecast period (2018–2023), according to the latest research report from Market Research Future (MRFR).
Market Overview
Smart biosensors are advance analytical devices used to detect the chemical and biological substance and helps to understand and analyze the nature of the biological structure. Smart biosensors are more compatible, easy to carry and more accurate than traditional devices.
The factors propelling the growth of the global smart biosensors market are the rising prevalence of diabetes in developing economies, increasing demand for advanced monitoring systems, and raising awareness about advance biosensors. However, the high costs associated with smart biosensors, side effects of insulin pens, and the growing popularity of other substitutes such as insulin pumps may hamper market growth during the assessment period.
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Competitive Analysis
Some of the key players in the global smart biosensors market are Abbott Point of Care Inc., Medtronic Inc., F. Hoffman La-Roche Ltd., Siemens Healthcare AG, Lifescan, Inc., LifeSensors Inc., Nova Biomedical Corp., Acon Laboratories Inc., Universal Biosensors, Pharmaco-Kinesis Corporation, Biacore, and Others
Segmentation
The global smart biosensors market has been segmented on the basis of product type, technology, application, and end user.
On the basis of product type, the market has been classified as wearable biosensors, non-wearable biosensors.
The technology segment has been divided into electrochemical biosensors, piezoelectric biosensors, optical biosensors, thermal biosensors, nanomechanical biosensors, and others. Thermal biosensors segment is likely to be the fastest growing segment during the forecast period.
Based on application, has been segmented into blood glucose testing, cholesterol testing, blood gas analysis, pregnancy testing, drug discovery, infectious disease testing, and others.
The end user segment has been divided into point-of-care, home diagnostics, research labs, security & biodefense, environmental monitoring, food & beverage industry, and others.
Regional Analysis
In the Americas, the North American market is likely to hold the majority share of the Smart Biosensors Market owing to the increasing prevalence of chronic disorders, favorable policies implemented by government and regulatory authorities, and adoption of highly advanced technology. According to the American Diabetes Association, in 2015, more than 30.3 million diabetes patients were present in America, the number is equivalent to 9.4% of the total population. The US is expected to account for the largest share of the North American market during the forecast period owing to the presence of major market players such as Medtronic, F. Hoffman La-Roche Ltd., Siemens Healthcare AG, and Lifescan, Inc.
Browse the market data and information spread across 85 pages with 43 data tables and 47 figures of the report “Smart Biosensors Market Research Report - Global Forecast till 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/smart-biosensors-market-7801
The global smart biosensors market is currently dominated by several players. The market players are engaged in strategic collaborations and acquisitions to expand their product portfolios. For instance, In February 2018, Nanomedical Diagnostics launched Graphene Biosensor- FLEX, which can be easily integrated with the company’s Agile R100 protein assay system to increase the efficiency of the drug discovery process.
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