Medical applications continue to dominate the biosensors market worldwide. Biosensors are increasingly finding applications in blood glucose monitoring, drug discovery, drug analysis, and whole blood analyzers.
In hospitals, there is perennial demand for medical biosensors for blood gases monitoring, and real-time Point-of-Care testing. With more number of individuals becoming health conscious, the use of biosensors for medical diagnosis is growing rapidly. Ongoing research is likely to improve existing models in terms of accuracy, sensitivity, reduced size, and increased portability. In view of increasing applications in medical field, biosensors market is witnessing a foray of companies, thus making the market much more competitive.
In addition, the biosensors market is being driven by increase in R&D activities for developing biosensors. Industrial and university researchers are conducting research to develop novel platforms for accurate, highly sensitive, and pain-free diagnostic biosensors. In addition, efforts are also directed towards developing biosensor instruments capable of testing multiple parameters for home diagnostic, and point-of-care markets. Nanotechnology is also spurring growth in biosensors field. Unabated investments in research and development in nano-biosensors is resulting in availability of affordable kits, and compact diabetic monitors. Besides, several companies are also focusing efforts to devise a single platform for a range of applications. Combination of cholesterol and diabetic tests is one such instance.
Glucose Biosensors represents the largest segment cornering a lion’s share of the global biosensors market, as stated by the new market research report on Biosensors in Medical Diagnostics. Diabetes management has become an attractive industry by itself, presenting huge opportunities for growth of enhanced diabetes management products, glucose detection devices, and glucose biosensors. Key factors driving growth for glucose biosensors include user-friendly designs, growing diabetic population, and point-of-care applications. Biosensor technology is capable of increasing patient compliance by minimizing careless attitude towards regular monitoring of glucose levels, owing to ease of use and higher accuracy. Roche Diagnostics (Formerly Boehringer Mannheim), LifeScan (Johnson and Johnson), Abbott, Bayer, Medtronic, Becton Dickinson, Home Diagnostics, and Dexcom are few of the major players in the glucose biosensors market. Other biosensors (including biosensors used for testing cholesterol urea, blood gas, and other parameters) are also forecast to register fastest growth of more than 19% over the analysis period.
The United States represents the largest market for medical biosensors globally. Europe trails the US. However, Registering the fastest CAGR of more than 14% through 2015, Asia-Pacific holds the highest growth potential for biosensors. Growing health-related concerns, and an increase in affordability levels with regards to healthcare, are the major factors driving the market for biosensors in Asia-Pacific.
Major companies developing biosensor-based devices profiled in the report include Abbott Point Of Care Inc., Neosensors Limited, Siemens Healthcare Diagnostics Inc., Animas Corp., LifeScan Inc., Medtronic Diabetes, Roche Diagnostics Ltd. Leading developers of biosensor technology analyzed include AgaMatrix Inc., Cranfield Health, LifeSensors Inc., M-Biotech, and Nova Biomedical Corp.
The research report titled "Biosensors in Medical Diagnostics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the Biosensors market in Medical Diagnostics, current market trends, key growth drivers, new product innovations/launches, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the global biosensors market for the years 2007 through 2015 for the regions, including US, Canada, Japan, Europe, Asia-Pacific and Rest of World. Key product segments analyzed include Medical Biosensors (Glucose Biosensors and Other Medical Biosensors), Environmental Biosensors, and Other Biosensors.