Pune, June 15, 2023 (GLOBE NEWSWIRE) -- According to a report from SNS Insider, "The bioelectronics and biosensors market reached a value of USD 27.5 billion in 2022 and is projected to reach USD 56.01 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.3% during the forecast period from 2023 to 2030".
Market Report Scope
Bioelectronics and biosensors are two closely related fields that merge biology and electronics to create innovative devices for various applications in healthcare, diagnostics, and research. They represent cutting-edge technologies that have the potential to revolutionize medical treatments, improve disease detection, and enable personalized medicine.
Market Analysis
There is a growing emphasis on personalized medicine and healthcare, which requires accurate and real-time monitoring of individual health parameters. Bioelectronics and biosensors provide the ability to gather precise physiological data and enable early detection, diagnosis, and monitoring of diseases. This demand for personalized healthcare is a significant driver of the bioelectronics and biosensors market. The rising prevalence of chronic diseases is driving the demand for biosensors in healthcare systems.
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Bioelectronics and Biosensors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 27.5 Bn |
| Market Size by 2030 | US$ 56.01366 Bn |
| CAGR | CAGR of 9.3% From 2023 to 2030 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Segments | • By Product (Electrochemical Biosensor, Piezoelectric Biosensors, Thermal Biosensors, Optical Biosensors) • By Application (Implantable Device, Biochips, Fabrication Templates, Prosthetics, Artificial/Bionic Organs, Biofuel Cells, Molecular Motors, Others) • By End-Use (Healthcare, Food & Beverage, Environmental, Others) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Medtronic, F. Hoffmann-La Roche Ltd, Abbott, Siemens Healthineers, Bioelectronics Corporation, LifeSensors, AgaMatrix, Nova Biomedical, Broadcom, Beckman Coulter, OmniVision Technologies, Inc., Sensirion AG, Sotera Wireless, HONEYWELL INTERNATIONAL INC., Universal Biosensors, Bayer A. G., Salvia Bioelectronics, Printed Electronics at RISE, Breezing Co., Centre for Organic Electronics |
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Impact of Recession
While a recession can present challenges for the bioelectronics and biosensors market, the sector's inherent importance in healthcare, potential for cost reduction and efficiency, resilient R&D focus, market consolidation opportunities, and long-term growth prospects collectively contribute to its relative stability and potential for continued development even during economic downturns.
Impact of Russia-Ukraine War
While the Russia-Ukraine war may introduce uncertainties and challenges for the bioelectronics and biosensors market, the full extent of its impact will depend on the duration of the conflict, the effectiveness of mitigation strategies, and the resilience of the industry itself. Despite the potential challenges posed by the Russia-Ukraine war, the market may find ways to mitigate the impact through diversification of supply chains, increased collaboration among international partners, and the pursuit of alternative sourcing options.
Impact of COVID-19 Pandemic
The COVID-19 pandemic had a profound impact on the bioelectronics and biosensors market. It led to increased demand for diagnostic biosensors, stimulated research and development activities, and accelerated the adoption of remote patient monitoring technologies. However, supply chain disruptions and economic uncertainties posed challenges to the market's growth.
Key Regional Development
With its robust research ecosystem, favorable regulatory environment, strong industry presence, growing healthcare expenditure, and expanding market opportunities, North America is positioned to dominate the bioelectronics and biosensors market. The region's technological advancements and emphasis on innovation have resulted in breakthrough developments, pushing the boundaries of healthcare and opening new avenues for the application of bioelectronics and biosensors.
Key Takeaway from Bioelectronics and Biosensors Market Study
- As the field of bioelectronics and biosensors continues to evolve, implantable devices segment is poised to dominate the market due to their unparalleled precision, patient-centric design, long-term monitoring capabilities, technological advancements, and expanding applications.
- The market is witnessing substantial growth, with the healthcare segment emerging as a dominant force. Technological advancements, the rising demand for remote patient monitoring, expanding applications in disease management, advancements in wearable devices, and the focus on personalized medicine are key factors driving this trend.
Recent Developments Related to Bioelectronics and Biosensors Market
- Novo Nordisk, a leading pharmaceutical company, has recently expanded its collaboration with the Massachusetts Institute of Technology (MIT) to include groundbreaking areas of research: bioelectronics, biosensors, and stimuli-responsive delivery devices.
- The strategic partnership between GrapheneDx and Sapphiros represents a significant step towards industrializing graphene-based biosensors. By combining their expertise, resources, and vision, these two pioneering companies aim to revolutionize biosensing technology, paving the way for advancements in healthcare, environmental monitoring, and other sectors.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. The Bioelectronics and Biosensors Market Segmentation, By Product
8.1 Electrochemical Biosensors
8.2 Piezoelectric Biosensors
8.3 Thermal Biosensors
8.4 Optical Biosensors
9. The Bioelectronics and Biosensors Market Segmentation, By Application
9.1 Implantable Devices
9.2 Biochips
9.3 Fabrication Templates
9.4 Prosthetics
9.5 Artificial/Bionic Organs
9.6Biofuel Cells
9.7 Molecular Motors
9.8 Others
10. The Bioelectronics and Biosensors Market Segmentation, By End-Use
10.1 Healthcare
10.2 Food & Beverage
10.3 Environmental
10.4 Others
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion
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