Biosensor Market To Reach USD 22,551.2 Mn By 2020
Globally, the biosensors market is witnessing significant growth due to increasing demand of point of care testing. In addition, rising prevalence of chronic and lifestyle associated diseases, growing geriatric population, increasing application of biosensors in various industries and growing application of nanotechnology in healthcare are also driving the growth of the market. In addition, emergence and demand of personalized medicine and non-invasive biosensors would also drive the growth for the market.
Globally, the biosensors market is witnessing significant growth due to increasing demand of point of care testing. In addition, rising prevalence of chronic and lifestyle associated diseases, growing geriatric population, increasing application of biosensors in various industries and growing application of nanotechnology in healthcare are also driving the growth of the market. In addition, emergence and demand of personalized medicine and non-invasive biosensors would also drive the growth for the market.
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Global <strong>Market</strong> Analysis on <strong>Biosensor</strong>s: Asia-Pacific to Witness Surging Demand<br />
for Bio-analytical Devices; Rampant Growth for Optical <strong>Biosensor</strong>s <strong>Market</strong><br />
According to a new market report published by Persistence <strong>Market</strong> Research “Global<br />
<strong>Market</strong> Study on <strong>Biosensor</strong>: Asia-Pacific to Witness Highest Growth by <strong>2020</strong>,” the<br />
global biosensor market was valued at <strong>USD</strong> 12,963.6 million in 2014 and is expected<br />
to grow at a CAGR of 9.7% from 2014 to <strong>2020</strong>, to reach an estimated value of <strong>USD</strong><br />
<strong>22</strong>,<strong>551.2</strong> million in <strong>2020</strong>. Globally, the biosensors market is witnessing significant<br />
growth due to increasing demand of point of care testing. In addition, rising<br />
prevalence of chronic and lifestyle associated diseases, growing geriatric population,<br />
increasing application of biosensors in various industries and growing application of<br />
nanotechnology in healthcare are also driving the growth of the market.<br />
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In addition, emergence and demand of personalized medicine and non-invasive<br />
biosensors would also drive the growth for the market. However, strict regulatory<br />
requirements and reimbursement policy issues in healthcare system hamper growth of<br />
the global biosensors market. In addition, the regulatory process is not keeping pace<br />
with the rapid development of new medical technologies.The global biosensors<br />
market is anticipated to grow from an estimated <strong>USD</strong> 12,963.6 million in 2014 to<br />
<strong>USD</strong> <strong>22</strong>,<strong>551.2</strong> million in <strong>2020</strong> at a CAGR of 9.7% during the forecast period. In<br />
North America, growing aging population, increasing health awareness, rising<br />
chronic and lifestyle diseases, technological developments for various home use<br />
applications.<br />
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In Europe, the biosensors device market is driven by rising diagnostic requirements<br />
due to increasing lifestyle associated diseases, aging population and improving<br />
healthcare infrastructure. On the other hand, increasing healthcare costs has shifted<br />
the focus of healthcare from hospitals to home, which would increase the use of<br />
biosensors devices in the region.<br />
Abbott Laboratories, Inc, Siemens Healthcare, Nova Biomedical Corporation, Bayer<br />
AG, Johnson and Johnson, Medtronic, Inc. and Hoffmann-La Roche, Ltd. are some of<br />
the major players of biosensors market.<br />
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