The Global Electrochemical Biosensors Market is expected to register a CAGR of 10.5% and is anticipated to reach USD 30,907.3 Million by 2025. Electrochemical biosensors are analytical devices used to provide analytical information by biological samples, such as tissues, enzymes, and whole-cell, to an electrical signal. It is cost-effective, user-friendly, simple, disposable, and convenient., Potentiometric sensors, amperometric sensors, and conductometric sensor are detection modes of electrochemical detection. It is used mostly in miniaturized devices and is used for the detection of biological and non-biological matrices. Electrochemical biosensors market is observed to have exponential growth. This growth of the market is mainly driven by increasing diabetic population, rising prevalence of the chronic and lifestyle-induced disease, increasing demand for POCT, and growing application of biosensors in various industries. On the other hand, factors such as strict regulatory requirements and reimbursement policy issues in healthcare systems are hindering the growth of the market., Market Dynamics, Diabetes is a chronic and non-communicable disease, and its global prevalence is increasing enormously. Nowadays, it is one of the leading causes of death and has an increased risk of developing several severe health problems. It is the primary cause of cardiovascular diseases, kidney diseases, eye disorders, and strokes. According to the report published by the International Diabetes Federation (IDF), in 2013, approximately 384 million people had diabetes, and nearly 592 million people are expected to have diabetes by 2035., Prevalence of a chronic disease is increasing due to alteration in lifestyle. Obesity, cancer, diabetes, and cardiovascular disease are some of the major diseases caused due to unhealthy lifestyles. Obesity is caused due to diet imbalance, leading to various risk factors for Type 2 diabetes, high blood pressure, heart disease, and other health problems. To reduce the global burden of chronic and lifestyle associated diseases, accurate diagnosis is needed for prevention of such diseases; and biosensors help in detection and monitoring of these diseases. It als

The Global Electrochemical Biosensors Market is expected to register a CAGR of 10.5% and is anticipated to reach USD 30,907.3 Million by 2025. Electrochemical biosensors are analytical devices used to provide analytical information by biological samples, such as tissues, enzymes, and whole-cell, to an electrical signal. It is cost-effective, user-friendly, simple, disposable, and convenient.

Potentiometric sensors, amperometric sensors, and conductometric sensor are detection modes of electrochemical detection. It is used mostly in miniaturized devices and is used for the detection of biological and non-biological matrices. Electrochemical biosensors market is observed to have exponential growth. This growth of the market is mainly driven by increasing diabetic population, rising prevalence of the chronic and lifestyle-induced disease, increasing demand for POCT, and growing application of biosensors in various industries. On the other hand, factors such as strict regulatory requirements and reimbursement policy issues in healthcare systems are hindering the growth of the market.

Market Dynamics

Diabetes is a chronic and non-communicable disease, and its global prevalence is increasing enormously. Nowadays, it is one of the leading causes of death and has an increased risk of developing several severe health problems. It is the primary cause of cardiovascular diseases, kidney diseases, eye disorders, and strokes. According to the report published by the International Diabetes Federation (IDF), in 2013, approximately 384 million people had diabetes, and nearly 592 million people are expected to have diabetes by 2035.

Prevalence of a chronic disease is increasing due to alteration in lifestyle. Obesity, cancer, diabetes, and cardiovascular disease are some of the major diseases caused due to unhealthy lifestyles. Obesity is caused due to diet imbalance, leading to various risk factors for Type 2 diabetes, high blood pressure, heart disease, and other health problems. To reduce the global burden of chronic and lifestyle associated diseases, accurate diagnosis is needed for prevention of such diseases; and biosensors help in detection and monitoring of these diseases. It also helps in the diagnosis of infectious diseases and assists in effective disease management. Also, biosensors are used for the detection of cancer and to determine various target sites. Thus, increasing prevalence of chronic and lifestyle associated disease would drive the growth of the biosensors market.

Global Electrochemical Biosensors Market Size, by Application, 2018 (USD Million)



Source: MRFR Analysis

Segmentation

The global electrochemical biosensors market has been segmented into application and end user. Based on application, the market has been segmented into diagnosis, monitoring, and others. The diagnosis segment accounted for a market value of USD 8,207.2 million in 2018. By end user, the market has been divided into point of care testing, diagnostics center, research laboratories, and others.

Key Players

The prominent players in the global electrochemical biosensors market are Siemens Healthineers (Germany), Abbott Laboratories (US), F. Hoffmann-La Roche Ltd (Switzerland), Medtronic PLC (Ireland), Bayer AG (Germany), I-SENS, Inc. (South Korea). Some of the key strategies followed by the players operating in the global electrochemical biosensors market were innovation, product development, acquisition, and expansion.

Europe Electrochemical Biosensors Market Share, by Country, 2018 (%)



Source: MRFR Analysis

Regional Analysis

The global electrochemical biosensors market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Middle East & Africa. North Americas is estimated to dominate the global electrochemical biosensors market during the forecast period. In North America, the electrochemical biosensor market is driven due to increasing health awareness, rising chronic and lifestyle diseases, and appropriate insurance coverage. Usage of biosensor technology in North America is high compared to other regions of the world due to technological advancements and broader application areas in different industries. Since the healthcare expenditure is high in North America, biosensor devices are used extensively for accurate, reliable, and quick results for early detection and prevention of diseases.

Europe holds the second-largest market position in terms of the market share of global electrochemical biosensors market majorly due to rise in geriatric population, increase in lifestyle associated diseases, and increasing awareness of various conditions and rise in diagnostic requirements. In Europe, the market share for Italy in electrochemical biosensors market was 13.6% in 2018.

The electrochemical biosensors market in Asia-Pacific region is growing due to increasing awareness of clinical outcomes, large population base, rise in geriatric population, increase in the diabetic population, and technological advancement in medical devices and equipment. Additionally, Asia-Pacific has become one of the attractive markets for medical device companies due to low regulatory requirements and low-cost manufacturing of devices.

Key Updates



In June 2019, Abbott launched its first-ever rapid point-of-care HbA1c Test to aid in the diagnosis of diabetes. Afinion HbA1c Dx test enables clinicians to develop informed, individualized care plans during a patient





In September 2017, Siemens announced the commercial availability of the Atellica Solution Advanced Diagnostics Analyzers.





In October 2016, Siemens Received FDA Clearance of the Xprecia StrideTM Coagulation Analyzer.



Market Segmentation

Global Electrochemical Biosensors Market, by Application



Diagnosis



Monitoring



Others



Global Electrochemical Biosensors Market, by End User



Point of Care Testing



Diagnostics Center



Research Laboratories



Others



Global Electrochemical Biosensors Market, by Region



North America



US

Canada











Europe



Germany

UK

France

Italy

Spain

Rest of Europe











Asia-Pacific



China

Japan

India

Australia

South Korea

Rest of Asia-Pacific











Middle East & Africa



Middle East

Africa









Available Additional Customizations



Additional Companies



Supply & Demand Analysis



Intended Audience



Medical device manufacturers and distributors



Government research organizations



Hospitals and clinics



Regulatory agencies



Medical device companies



Frequently Asked Questions (FAQ) :