9 June 2020: Biosensors are semiconductor devices intended to sense and translate biological responses into electrical signals with the help of transducers. They are mainly used as an analytical tool for offering quantitative or qualitative outcomes. There are various categories of biosensors such as electrochemical, resonant mirror, light addressable potentiometric, and surface plasmon resonance.
In addition, biosensors deliver fast results and are cost-effective, movable, and simple to use, leading to quick acceptance of biosensors in several areas like agriculture, medicine, and environment monitoring.
Agricultural Sector is Fastest Growing Application in the Market
The major application variants of the biosensors market include food toxicity, medical, environment, bioreactor, agriculture, and others. The medical sector dominated the market share and is anticipated to expand at the fastest CAGR in the forthcoming period.
The medical sector further comprises blood glucose monitoring, cholesterol testing, blood gas analyzer, drug discovery, pregnancy testing, and infectious diseases. They are considered as a fundamental tool in the monitoring and detection of an extensive range of medical conditions from diabetes to cancer.
Medical segment is followed by the agriculture segment and is expected to be the fastest growing sector throughout the forthcoming period. Biosensors offer specific and rapid detection of numerous fungi as compared to the older procedures that are accepted to decrease the loss of crops and livestock by bioterrorism and natural threats.
In addition, biosensors are mainly used to measure the concentrations of heavy metals, pesticides, and herbicides in soil and groundwater. These are similarly used to estimate the probable occurrence of soil diseases, which was not possible with conventional techniques. It offers reliable and progressive ways for the prevention and decontamination of soil disease at an initial phase. Such factors are expected to add to the development of the biosensors in the years to come.
Market Insights:
Prominent industry players are undertaking policies such as acquisitions and collaborations that have allowed them to increase additional profits. For example, in June 2017, Roche acquired mySugr GMBH, an Austria based start-up that is involved in the growth of services and app for diabetes care. The policy was aimed at increasing Roche's product range of diabetes care solutions.
Leading players operating in the biosensors market include Abbott Laboratories; AZUR Environmental; Biosensor BV; Innovative Biosensors Inc.; Cranfield Biotechnology Centre; Bayer AG; Pinnacle Technologies Inc; Ercon, Inc.; DuPont Biosensor Materials; Johnson & Johnson; Strategic Diagnostics; Life Scan, Inc.; and Sysmex Corporation.
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