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Biosensor market gains momentum, to reach $16.8B by 2018

Posted: 22 Mar 2012 ?? ?Print Version ?Bookmark and Share

Keywords:biosensor market? biosensor technology?

An increase in the number of applications for biosensors developed or being developed has ensured that this technology follows a growth curve leading to standardization of equipment, type of biomolecule and test processes in the areas of drug discovery, bio-defense, environmental monitoring and narcotic detection. This is according to a report released by MarketResearch.com.

The report, "Biosensors: A global market overview," stated that the technological developments for the biosensor market portray a healthy trend for up-and-coming markets. While in the case of existing markets with a high proportion of application, biosensors would continue to be employed for newer end uses, such as automotive and aerospace. The continual research and development efforts being undertaken would go a long way in making sure that biosensor technology would continue to evolve as the years come, with faster, more specific and high specialty applications.

Inline to the above mentioned trend, the growth for biosensors market is robust in emerging markets in Asia-Pacific with 11 percent CAGR (2008-2018) closely followed by 10.7 percent in highly developed market of the U.S. Europe is the second largest, in terms of value, after the U.S. with an estimated $2.6 billion in 2012. The report reviews, analyzes and projects the Biosensors market for global and the regional markets including the United States, Europe, Japan, Asia-Pacific and Rest of World. The regional markets further analyzed for four more independent countries in EuropeGermany, France, United Kingdom and Italy.

Market for Biosensors application areas analyzed in this study includes point-of-care testing, home diagnostics, environmental monitoring, research laboratories, process industry and security & bio-defense. The report analyzes the global market in terms of USD Million. The global market for biosensors in 2012 is estimated to touch $8.5 billion and projected to reach $16.8 billion by 2018.





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