Stable Growth Predicted in Biosensors Market in Coming Years

In the past few years, the demand for point-of-care testing (POCT) has risen considerably, which is further creating need for portable and integrated devices. A POCT is a test which can be performed at or near the site of patient whenever the medical care is required. The technique has become an indicator of in vitro diagnosis, which is ascribed to its rapid, simple, low cost, and portable nature. The patient can be provided with result immediately outside of a laboratory, which is why POCT is also being widely utilized in hospitals as well. POCT further aids in improving patient care through remote patient care monitoring. 

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Different biosensor technologies are piezoelectric, electrochemical, optical, and thermal. Out of these, the demand for electrochemical and optical biosensors is predicted to increase substantially in the coming years. Some of the major end users of these biosensors are food industry, POCT, research laboratories, security and bio-defense, and home diagnostics. A major reason for the growing adoption of biosensors in these industries is the miniaturization of these devices. While before, bulky instruments were utilized for detecting and diagnosing, these days, the demand for portable and integrated biosensors is rising for applications in healthcare and food industries. Due to this, the manufacturers are increasingly focusing on reducing the size of biosensors.  

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While in the past, North America created the major demand for biosensors, the need for these devices is also projected to grow in Asia-Pacific, making the region the fastest growing biosensors market in the years to come. This can be ascribed to the rising awareness regarding clinical outcomes, surging geriatric population, increasing prevalence of diabetes, large population base, and technological advancements in in the field of medical devices and equipment in the region. 

Hence, the demand for biosensor is rising on account of the growing adoption of POCT.