© 2017 Global Market Insights, Inc. USA. All Rights Reserved
Biosensor market trends research and projections for
2021- 2027
www.gminsights.com
A research study conducted by Global Market Insights, Inc., suggests that
biosensor market is likely to exceed the $42 billion mark by 2027, in terms of
revenue. Rising incidences of several serious disorders among the global
population has evoked the need to detect these at early stages in order to obtain
appropriate treatment on time. This has also urged the development of novel
therapeutic solutions which majorly requires diagnostic tools.
Technological advancements in biosensors such as compact size, lightweight and
patient-friendly features are opening new opportunities for the industry. For
instance, in 2020, an awardee of ATTRACT projects, AquAffirm announced the
launch of eChem-Goldtm which are thin-film planar gold electrodes designed for
Covid-19 biosensor research.
© 2017 Global Market Insights, Inc. USA. All Rights Reserved
www.gminsights.com
Based on the product type, wearable biosensors segment is projected to observe a
notable CAGR of 9.3% through 2027 owing to increasing investment towards these
biosensors as they offer superior features as compared to the traditional ones.
Wearable biosensing technologies facilitate continuous monitoring of several
parameters with greater convenience which does not hamper the daily activities.
Based on medical application bifurcation, drug discovery segment is expected to grow
exponentially over time. The growth can be attributed to increasing application of
biosensors as they help in understanding the complexity of drug interactions and
drug specificity. For instance, enzyme-based biosensors enable quantifying of drug
interactions and pharmacokinetics which enhances the overall drug discovery
process.
Market Segmentation:-
In terms of the technology bifurcation, thermal segment had secured a notable
revenue share of 9.0% in 2020 and is anticipated to register substantial gains over the
coming years. Thermal bi