Market Drivers

Increasing demand for point-of-care (POC) diagnostics

A greater number of people needing to use point-of-care (POC) diagnostics. Diagnostic testing with POC devices takes place at or near where the patient is, so results are available fast and conveniently and they are beneficial in terms of cost. Because chronic diseases (such as diabetes, cardiovascular problems and cancer) are increasingly common worldwide, there is a growing interest in decentralized healthcare, home-based monitoring and self-testing kits. A greater number of people now suffering from chronic diseases such as diabetes and heart conditions has sped up the requirement for frequent testing in clinics and doctor’s offices. Since more than 537 million adults have diabetes worldwide (according to the IDF in 2023), there is a greater need for POC glucose monitors. Due to the COVID-19 pandemic, the importance of rapid tests for antigen and molecular detection was made clear and investment and usage of POC tests rose for the long term. Most POC devices use biosensors as their main part to help with fast monitoring and guidance for deciding on treatments. Tests for infectious diseases can be made in real-time with POC devices and people get blood sugar readings and many analyses on site instead of waiting for central labs. POC devices are greatly helping to improve healthcare in places where good medical care is lacking.

Market Restraints

High cost associated with the development and commercialisation of advanced bio-sensing technologies

Developing biosensors that make a major difference takes research and large amounts of money. To develop innovative biosensors, one must deal with many costs such as making new nanomaterials, using microfabrication technologies and blending in the Internet of Things (IoT) and artificial intelligence (AI). Biosensors also have to be extremely sensitive and highly particular for proper results, so extra effort and research are needed to check that. Due to the expensive development processes, biosensor products often cost much more, which makes them inaccessible for essential healthcare even in countries with very limited healthcare budgets. The expenses do not end with buying such a sensor, since maintaining and regularly correcting it come at added costs for healthcare providers and those using the sensor.

By Product Type

In 2024, Non-wearable biosensors type captured 43.49% of market sales as it is more efficient, has a longer life, and is more design-friendly.

Currently, non-wearable biosensors have a substantial presence in the market and will remain dominant over the forecast period, mainly due to their application in established clinical diagnostics and laboratory biosensors. Non-wearable biosensors are appointment-based devices that are used for multiple common and critical diagnosis types in hospitals, clinics, and research laboratories. These include traditional blood glucose meters, pregnancy tests, and rapid diagnostic tests for infectious diseases, to name a few. Non-wearable biosensors are currently the most prevalent and the goal of current research. Non-wearable biosensors are well-established, extremely well-validated and further enhancement is possible. The growth of these devices includes enhancements such as multiplexed detection of various biomarkers. Non-wearable biosensors make quick decisions and quick start treatments, especially in critical care instances. Non-wearable biosensors typically deliver a diagnosis in a considerably shorter time than traditional clinical laboratory methods.

By Application

In 2024, Medical Diagnostics application has market share of 38.80% of market sales with market value of USD 11,578.05 Million.

The biosensor market is led by the medical diagnostics segment because diabetes, cardiovascular disease and infections are becoming more common worldwide. Having biosensors allows for speedy and correct monitoring, as well as, in some cases, real-time results which is important for treating diseases. The use of continuous glucose monitor (CGM) devices based on biosensor technology is essential in diabetes management. Also, being able to use tests at the point of care (like in the home or clinic) that gives fast results, supports the development of biosensors in the medical field. It is easy to operate a biosensor, it provides fast results and it is often chosen for people who want to monitor their health at home or in other places.

By Technology

The electrochemical biosensors technology segment currently occupies and is projected the major share

Electrochemical biosensors detect substances by turning biological recognition into electrical signals. Their use is widespread for many reasons. They are very delicate and can pick up very little of the target molecules needed for early disease detection or monitoring the environment. Also, their cost for large-scale manufacturing is low which allows them to be useful for many purposes, including home healthcare and POC diagnostics. They are also tough, can be made very small and fit well in microfabricated circuits. Many diabetics depend on electrochemical-based sensors in blood glucose monitoring devices since they have been playing a main role in the history of POC technology for diabetes.

By Geography

North America dominates the Bio Sensors market with an estimated market value of USD 14,548.17 Million in 2024, and is expected to reach USD 26,075.99 Million in 2032.

The huge growth of the North American biosensors market is mainly due to a strong health care structure, more chronic diseases and high investments in research and development. In North America, there is growing interest in early detection of diseases and personalised medicine, which affects the point-of-care diagnostics business. More cases of diabetes, heart diseases and cancer have made biosensors useful for CGM, biomarkers and infectious diseases,s which drive the growth of the STEM market. Now, companies like Abbott and Dexcom are demonstrating the first wearable biosensor,s making and sharing digital information for health monitoring in real-time. Besides, public and private money play a big role in developing the market through organisations such as the National Institute of Health (NIH), Food and Drug Administration (FDA) and Defence Advanced Research Projects Agency (DARPA) that direct funding toward nanotechnology, AI-powered diagnostics and reducing the size of biosensors. More people purchasing digital health technologies and wearables leads to growth in the market. In addition to their use in healthcare, biosensors may create more demand in the food and environmental industries by detecting pathogens, various toxins, and contaminants. As AI-driven biosensors, cloud services and IoT are adopted in more places in North America, the specificity-to-cost ratio will also improve.

List of Top Players

• Abbott Laboratories
  Siemens Healthineers
  Roche Diagnostics
  Medtronic
  Honeywell International, Inc.
  Danaher Corporation
  Johnson & Johnson
  Thermo Fisher Scientific, Inc.
  GlaxoSmithKline plc
  Bayer AG
  GE Healthcare
  Sensirion AG
  Molecular Devices (A part of Danaher)
  Bio-Rad Laboratories, Inc.
  Schott AG
  Analytik Jena AG
  Eppendorf AG
  Novartis AG
  Acon Laboratories, Inc.
  Zymergen, Inc.
  Others

Key Industry Developments

• In 2024, October, STMicroelectronics released the ST1VAFE3BX chip for wearable health technologies, which includes smartwatches, sports bands, connected rings and smart glasses. Available on the chip is an all-in-one design to detect biopotentials, movements using inertial sensors and track activities with AI, providing accurate results and more features while lowering power consumption. It gathers all the elements for cardio and neural bio-sensing, motion tracking and artificial intelligence in one highly merged device.

• In October 2024, Bruker Corporation made the acquisition of Dynamic Biosensors GmbH, based in Munich. With this purchase, Bruker can provide advanced insights into how drugs interact with molecules, which benefits both drug research and discovery.

• In March 2022, Rockley Photonics Holdings Limited, a specialist in photonic health monitoring, started working with Medtronic on new projects. The objective was to bring Rockley’s Bioptx platform into Medtronic’s products for different healthcare markets.

Table of Contents

1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
   1. MARKET INTRODUCTION
   2. MARKET DRIVERS
   3. MARKET RESTRAINTS
   4. FUTURE OPPORTUNITIES
   5. MARKET TRENDS
   6. PORTER’S FIVE FORCES ANALYSIS
      1. Threat of New Entrants
      2. Threat of Substitutes
      3. Bargaining Power of Suppliers
      4. Bargaining Power of Buyers
      5. Intensity of Competitive Rivalry
   7. VALUE CHAIN & PROFIT MARGIN ANALYSIS
   8. PRICING ANALYSIS
   9. REGULATORY FRAMEWORK
   10. COVID-19 IMPACT ANALYSIS
   11. PRODUCT LIFE CYCLE ANALYSIS
   12. PESTLE ANALYSIS
   13. MICRO ECONOMIC ANALYSIS
   14. Market Premium Insights (Enterprise license)
       • Consumer Analysis (List of Potential Consumers)
       • Top 10 Country-Wise Import & Export Data (If Applicable)
       • Regulatory Bodies & Authorization Across the Globe
       • Key Conferences & Events: Next Two Years
       • Top Patents for The Market
5. GLOBAL BIO SENSORS MARKET REVENUE & SHARE ANALYSIS (2023-2032)
   1. By Type
      1. Wearable
      2. Implantable
      3. Non-Wearable
   2. By Application
      1. Medical Diagnostics
      2. Food Analysis
      3. Environmental Monitoring
      4. Industrial Process Control
      5. Agricultural Testing, Biodefense
   3. By Technology
      1. Electrochemical
      2. Optical
      3. Piezoelectric
      4. Thermal
      5. Nanomechanical
   4. By End-Users
      1. Hospitals & Clinics
      2. Diagnostic Laboratories
      3. Food & Beverage
      4. Environmental Monitoring Agencies
      5. Pharmaceutical & Biotechnology Companies
      6. Research Institutes & Academia
6. GLOBAL BIO SENSORS MARKET REVENUE & SHARE ANALYSIS (2023-2032), BY REGION
   1. NORTH AMERICA 
      1. U.S.
      2. Canada
      3. Mexico
   2. EUROPE
      1. Germany
      2. UK
      3. France
      4. Italy
      5. Spain
      6. Rest of Europe
   3. ASIA PACIFIC 
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Rest of APAC
   4. MIDDLE EAST & AFRICA
      1. GCC
      2. South Africa
      3. Rest of MEA
   5. LATIN AMERICA
      1. Brazil
      2. Argentina
      3. Rest of LATAM

For all the segments and sub-segments, Qualitative as well as Quantitative data will be provided. In Quantitative we provide the historic (2023), base (2024), estimated (2025) and forecasted (2025-2032) market value in USD Million, Share in % with a CAGR (2025-2032). This data would be provided on a regional as well as country level.

1. COMPETITIVE LANDSCAPE
   1. OVERVIEW
   2. KEY PLAYERS MARKET SHARE ANALYSIS
   3. LIST OF KEY STRATEGIC DEVELOPMENTS 
2. COMPANY PROFILES
   1. Abbott Laboratories
      1. Company Overview
      2. Company Financial Insights (Total Revenue, Revenue By Business Segments, and By Region)
      3. Product Benchmarking
      4. Key Strategic Developments (Merges & Acquisitions, Partnership /Agreements/Joint Venture, Expansion, New Product Launches, and other developments)
      5. Business Strategic Overview
      6. SWOT Analysis
   2. Siemens Healthcare
   3. Roche Diagnostics
   4. Medtronic
   5. Honeywell International, Inc.
   6. Danaher Corporation
   7. Johnson & Johnson
   8. Thermo Fisher Scientific, Inc.
   9. GlaxoSmithKline plc
   10. Bayer AG
   11. GE Healthcare
   12. Sensirion AG
   13. Molecular Devices (A part of Danaher)
   14. Bio-Rad Laboratories, Inc.
   15. Schott AG
   16. Analytik Jena AG
   17. Eppendorf AG
   18. Novartis AG
   19. Acon Laboratories, Inc.
   20. Zymergen, Inc.
   21. OTHERS
3. LIST OF SOURCES
4. DISCLAIMER