Sharp Surge Expected in Biosensor Sales in Coming Years

The global biosensors market was valued at $14,169.5 million in 2015, and it is expected to grow at a CAGR of 9.8% during 2016-2022.

The mushrooming requirement for point of care testing is one of the major factors responsible for the ballooning sales of biosensors across the world. The requirement for point of care testing is rising sharply because of the increasing demand for integrated and portable devices around the world. Moreover, point of care testing helps healthcare professionals perform tests near the patients and provides immediate and accurate results outside the laboratories. This method helps medical practitioners provide improved patient care.

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Furthermore, it allows clinicians to diagnose the various causes of diseases, thereby allowing them to immediately manage these diseases. This way point of care testing procedures reduce healthcare costs and allow healthcare professionals obtain quick and accurate results of various analytical tests. Because of this reason, the popularity of point of care testing is growing sharply all over the world, which is, in turn, propelling the sales of biosensors. This is causing the expansion of the global biosensors market. 

Biosensors are effective and complicated devices that can quickly detect diseases and measure various things in different healthcare applications. These devices are widely used in industrial process control, healthcare, military applications, agriculture, veterinary monitoring, and environmental monitoring. They are portable, easy to use, and act as accurate detection devices in various applications. Glucose biosensors are extensively used in medical testing applications because of the rising incidence of diabetes and other health problems. 

Globally, the biosensors market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the coming years. This will be a result of the surging public awareness about clinical outcomes, the presence of a large population, the rapidly increasing population of geriatric people, the rising incidence of diabetes, and rapid technological advancements and innovations being made in the field of medical devices and equipment in the region.

Thus, it can be said with full certainty that the demand for biosensors will explode all over the world in the years to come, mainly because of their rising usage in point of care testing procedures and various medical applications.