report cover1

Biosensors Market - Global Industry, Analysis, Size, Share, Growth, Trends, and Forecasts 2023-2030

Biosensors are important devices that convert biological impulses into electrical signals and have been used for a wide variety of applications ranging from environmental to agriculture and biomedicine. Biosensors date back to as early as 1906 when M. Cremer demonstrated that the concentration of an acid in a liquid is proportional to the electric potential that arises between parts of the fluid located on opposite sides of a glass membrane. Biosensors are employed in applications such as disease monitoring, drug discovery, and detection of pollutants, disease-causing micro-organisms, and markers that are indicators of disease in bodily fluids. A typical biosensor is represented in analyte, bioreceptor, transducer, electronics, and display. Biosensors have a very wide range of applications that aim to improve the quality of life. This range covers their use for environmental monitoring, disease detection, food safety, and defense. Drug discovery and many more. Biosensors can be categorized according to a type of biorecognition element or mode of physiochemical transduction. Biosensors are categorized as optical, thermal, and electrochemical, biosensors are the most widely studied. They provide the benefit of low detection limit, simplicity, specificity, and ease of operation.

Biosensors with modern technology and multitasking strategies have tremendous applications in various fields from diagnosis to therapeutics. Multiplex biosensors are the next target for the development of new generations of biosensors. Next-generation biosensors should aim towards more robustness with long-term stability. The major aim is to develop biosensors for diagnosis as well as therapeutics which will provide help in a deep understanding of diseases and their therapy. The major success of the first developed biosensors for the detection of glucose raises new possibilities in the area of biosensing.

Global Biosensors Market – Competitive Landscape

On July 20, 2023, Dutch-based Sencure raised USD 5.4 million to commercialize its SNCE-800 biosensor chip. On May 12, 2023, Dutch-based Delta Diagnostics secured USD 5.6 million to commercialize its low-cost biosensing technology. On April 12, 2023, NextGen Sensors was set to enable real-time IBD disease management after a funding boost. On February 1, 2023, SD Biosensor, SJL Partners completed the acquisition of Meridian Bioscience. On January 15, 2023, PneumoWave raised USD 8.1 million for wireless respiratory biosensors.

Some of the Key Players in the Global Biosensors Market Include –

  • Abbott Laboratories
  • DowDuPont Inc.
  • Bio-Rad International
  • Masimo Corporation
  • Molecular Devices Corporation
  • Meridian Bioscience, Inc
  • Biosensor International
  • Nix Biosensors
  • Medtronic
  • Roche
  • Spectrum Dynamics Medical

Global Biosensors Market – Growth Drivers

The biosensor market is fueled by an increasing need for rapid, on-the-spot diagnostics, driving the demand for point-of-care testing solutions. As the global burden of chronic disease rises, biosensors play a crucial role in early detection and monitoring, contributing to biosensor market growth.  According to the National Center for Biotechnology Information (NCBI), about 21% of the elderly in India reportedly have at least one chronic disease. 17% elderly in rural areas and 29% in urban areas suffer from chronic disease. Due to this increased demand for the biosensor market. Hypertension and diabetes account for about 68% of all chronic diseases. Ongoing advancements in biosensor technologies enhance their sensitivity, specificity, and overall performance, attracting investments and driving global biosensor market expansion. The growing trend towards personalized medicine emphasizes the importance of biosensors in tailoring treatments, boosting their adoption and biosensor market growth. Biosensor applications not only in healthcare but also in areas like food safety and environmental monitoring, broadening their market scope and driving overall growth.

Global Biosensors Market – Restraints

High initial costs associated with biosensor development and implementation pose a significant restraint, limiting accessibility for some segments and hindering widespread adoption. According to the National Center for Biotechnology Information (NCBI), it is reasonable to assume that the development cost of a biosensor lies between USD20 and USD30 million, and the time panel involved is between 7 and 10 years. Stringent regulatory requirements and compliance standards in the healthcare industry can slow down the approval process for biosensor devices, acting as a constraint on global biosensor market growth. A lack of standardized protocol for biosensor development and usage can lead to interoperability issues, making it challenging for seamless integration across different platforms and applications. Increasing scrutiny over data privacy and ethical considerations related to the use of biosensors, especially in collecting and handling sensitive health information, may impede biosensor market growth. Despite advancements, certain technical challenges such as limited shelf life durability issues, and variability in performance across different conditions can act as restraints in the biosensor market.

Global Biosensors Market -Opportunities

The continuous exploration of biosensors in diverse fields, including agriculture, defense, and wearable devices, presents opportunities for biosensor market expansion beyond traditional healthcare applications. Untapped markets in developing regions offer significant growth potential as awareness of biosensor applications increases, and healthcare infrastructure continues to improve. Ongoing research and development efforts are creating opportunities for novel biosensor technologies, fostering innovation, and driving biosensor market growth. Increasing emphasis on preventive healthcare measures creates a demand for biosensors in monitoring and managing health parameters., providing opportunities for biosensor market growth.

Global Biosensors Market – Geographical Insight

The market for global biosensors is segmented into regions such as North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa. North America is the largest market for biosensors due to advanced healthcare infrastructure, high R&D investments, and a strong presence of key market players. The U.S., in particular, is a major contributor to market growth. Europe holds a significant market share with countries like Germany and the UK contributing to the growth. The region benefits from a well-established healthcare sector and increasing adoption of biosensor technologies. Represents a rapidly growing market, driven by factors such as rising healthcare awareness, increasing investments in healthcare infrastructure, and a growing population. Countries like China and India are key contributors.

Global Biosensors Market – Key Development

  • On November 16, 2023, McMaster welcomes a new Canada excellence research chair in biosensing and molecular diagnostics.
  • On August 3, 2023, Nix Biosensors teams up with the national cycling league to provide innovative hydration technology to NCL athletes.
  • On May 8, 2023, Cancer’s Survivor’s wireless innovation helps doctors uniquely track patient’s vitals.
  • On January 17, 2023, Intricon launched the Biosensors Center of Excellence.
Complete the form below and we'll get back to you shortly
Table of Content
Complete the form below and we'll get back to you shortly

Research Methodology: Aspects

Market research is a crucial tool for organizations aiming to navigate the dynamic landscape of customer preferences, business trends, and competitive landscapes. At Cognizance Market Research, acknowledging the importance of robust research methodologies is vital to delivering actionable insights to our clientele. The significance of such methodologies lies in their capability to offer clarity in complexity, guiding strategic management with realistic evidence rather than speculation. Our clientele seek insights that excel superficial observations, reaching deep into the details of consumer behaviours, market dynamics, and evolving opportunities. These insights serve as the basis upon which businesses craft tailored approaches, optimize product offerings, and gain a competitive edge in an ever-growing marketplace.

The frequency of information updates is a cornerstone of our commitment to providing timely, relevant, and accurate insights. Cognizance Market Research adheres to a rigorous schedule of data collection, analysis, and distribution to ensure that our reports reflect the most current market realities. This proactive approach enables our clients to stay ahead of the curve, capitalize on emerging trends, and mitigate risks associated with outdated information.

Our research process is characterized by meticulous attention to detail and methodological rigor. It begins with a comprehensive understanding of client objectives, industry dynamics, and research scope. Leveraging a combination of primary and secondary research methodologies, we gather data from diverse sources including surveys, interviews, industry reports, and proprietary databases. Rigorous data analysis techniques are then employed to derive meaningful insights, identify patterns, and uncover actionable recommendations. Throughout the process, we remain vigilant in upholding the highest standards of data integrity, ensuring that our findings are robust, reliable, and actionable.

Key phases involved in in our research process are mentioned below:


Understanding Clients’ Objectives:

Extensive Discussions and Consultations:

  • We initiate in-depth discussions and consultations with our clients to gain a comprehensive understanding of their objectives. This involves actively listening to their needs, concerns, and aspirations regarding the research project.
  • Through these interactions, we aim to uncover the underlying motivations driving their research requirements and the specific outcomes they hope to achieve.

Industry and Market Segment Analysis:

  • We invest time and effort in comprehensively understanding our clients’ industry and market segment. This involves conducting thorough research into market trends, competitive dynamics, regulatory frameworks, and emerging opportunities or threats.
  • By acquiring a deep understanding of the broader industry landscape, we can provide context-rich insights that resonate with our clients’ strategic objectives.

Target Audience Understanding:

  • We analyze our clients’ target audience demographics, behaviors, preferences, and needs to align our research efforts with their consumer-centric objectives. This entails segmenting the audience based on various criteria such as age, gender, income level, geographic location, and psychographic factors.
  • By understanding the nuances of the target audience, we can tailor our research methodologies to gather relevant data that illuminates consumer perceptions, attitudes, and purchase intent.


Identifying Challenges and Opportunities:

  • We proactively identify the challenges and opportunities facing our clients within their respective industries. This involves conducting SWOT (Strengths, Weaknesses, Opportunities, Threats) analyses and competitive benchmarking exercises.
  • By identifying potential obstacles and growth drivers, we can provide strategic recommendations that help our clients navigate complexities and capitalize on emerging opportunities effectively.

Grasping Specific Goals:

  • We delve into the intricacies of our clients’ objectives to gain clarity on the specific goals they aim to accomplish through the research. This entails understanding their desired outcomes, such as market expansion, product development, or competitive analysis.
  • By gaining a nuanced understanding of our clients’ goals, we can tailor our research approach to address their unique challenges and opportunities effectively.

Data Collection:


Primary Research Process:

  • Surveys: We design and administer surveys tailored to capture specific information relevant to our clients’ objectives. This may involve employing various survey methodologies, such as online, telephone, or face-to-face interviews, to reach target audiences effectively.
  • Interviews: We conduct structured or semi-structured interviews with key stakeholders, industry experts, or target consumers to gather in-depth insights and perspectives on relevant topics. These interviews allow us to probe deeper into specific issues and uncover valuable qualitative data.
  • Focus Groups: We organize focus group discussions with carefully selected participants to facilitate interactive discussions and gather collective opinions, attitudes, and preferences. This qualitative research method provides rich contextual insights into consumer behaviors and perceptions.
  • Observations: We conduct observational research by directly observing consumer behaviors, interactions, and experiences in real-world settings. This method enables us to gather objective data on consumer actions and reactions without relying on self-reported information.

Secondary Research Process:

  • Literature Review: We conduct comprehensive literature reviews to identify existing studies, academic articles, and industry reports relevant to the research topic. This helps us gain insights into previous research findings, theoretical frameworks, and best practices.
  • Industry Reports: We analyze industry reports published by reputable trade associations (whitepapers, research studies, etc.), and government agencies (U.S. Census Bureau, Bureau of Labor Statistics, and Securities and Exchange Commission etc.) to obtain macro-level insights into market trends, competitive landscapes, and industry dynamics.
  • Government Publications: We review government publications, such as economic reports, regulatory documents, and statistical databases, to gather relevant data on demographics, market size, consumer spending patterns, and regulatory frameworks.
  • Online Databases: We leverage online databases, such as industry portals, and academic repositories (PubMed Central (PMC), ScienceDirect, SSRN (Social Science Research Network), Directory of Open Access Journals (DOAJ), NCBI, etc.), to access a wide range of secondary data sources, including market statistics, financial data, and industry analyses.



Data Analysis:

The data analysis phase serves as a critical juncture where raw data is transformed into actionable insights that inform strategic decision-making. Through the utilization of analytical methods such as statistical analysis and qualitative techniques like thematic coding, we uncover patterns, correlations, and trends within the data. By ensuring the integrity and validity of our findings, we strive to provide clients with accurate and reliable insights that accurately reflect the realities of the market landscape.


Transformation of Raw Data:

  • Upon collecting the necessary data, we transition into the data analysis phase, where raw data is processed and transformed into actionable insights. This involves organizing, cleaning, and structuring the data to prepare it for analysis.

Utilization of Analytical Methods:

  • Depending on the research objectives, we employ a diverse range of analytical methods to extract meaningful insights from the data. These methods include statistical analysis, trend analysis, regression analysis, and qualitative coding.

Statistical Analysis:

  • Statistical tools are instrumental in uncovering patterns, correlations, and trends within the data. By applying statistical techniques such as descriptive statistics, hypothesis testing, and multivariate analysis, we can discern relationships and derive valuable insights.

Qualitative Analysis Techniques:

  • In addition to quantitative analysis, we leverage qualitative analysis techniques to gain deeper insights from qualitative data sources such as interviews or open-ended survey responses. One such technique is thematic coding, which involves systematically categorizing and interpreting themes or patterns within qualitative data.

Integrity and Validity Maintenance:

  • Throughout the analysis process, we maintain a steadfast commitment to upholding the integrity and validity of our findings. This entails rigorous adherence to established methodologies, transparency in data handling, and thorough validation of analytical outcomes.

Data Validation:

The final phase of our research methodology is data validation, which is essential for ensuring the reliability and credibility of our findings. Validation involves scrutinizing the collected data to identify any inconsistencies, errors, or biases that may have crept in during the research process. We employ various validation techniques, including cross-referencing data from multiple sources, conducting validity checks on survey instruments, and seeking feedback from independent experts or peer reviewers. Additionally, we leverage internal quality assurance protocols to verify the accuracy and integrity of our analysis. By subjecting our findings to rigorous validation procedures, we instill confidence in our clients that the insights they receive are robust, reliable, and trustworthy.


Importance of Data Validation:

  • Data validation is the final phase of the research methodology, crucial for ensuring the reliability and credibility of the findings. It involves a systematic process of reviewing and verifying the collected data to detect any inconsistencies, errors, or biases.

Scrutiny of Collected Data:

  • The validation process begins with a thorough scrutiny of the collected data to identify any discrepancies or anomalies. This entails comparing data points, checking for outliers, and verifying the accuracy of data entries against the original sources.

Validation Techniques:

  • Various validation techniques are employed to ensure the accuracy and integrity of the data. These include cross-referencing data from multiple sources to corroborate findings, conducting validity checks on survey instruments to assess the reliability of responses, and seeking feedback from independent experts or peer reviewers to validate the interpretation of results.

Internal Quality Assurance Protocols:

  • In addition to external validation measures, internal quality assurance protocols are implemented to further validate the accuracy of the analysis. This may involve conducting internal audits, peer reviews, or data validation checks to ensure that the research process adheres to established standards and guidelines.
- Get Started -

Get insights that lead to new growth opportunities

Need a Custom Report?

We can customize every report – free of charge – including purchasing stand-alone sections or country-level reports

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Business Development

small c popup.png
Buy Now
small c popup.png
Complete the form below and we'll get back to you shortly
small c popup.png
Complete the form below and we'll get back to you shortly
small c popup.png
Complete the form below and we'll get back to you shortly
Ask an Expert