Biosensors for non-clinical applications: Key market research findings
- Demand for miniaturized devices drives market growth
- North America is the dominant shareholder in the market
- Key vendors – Biosensor Applications, DuPont, Remedios, and Smiths Detection
Technavio’s market research analysts predict the global biosensors market for non-clinical applications market to grow at a CAGR of almost 12% between 2016 and 2020. The surging demand for miniaturized devices is the primary driving force behind growth in this market. Miniaturized devices reduce space requirements as well as the weight of electronic devices. North America was the dominant shareholder in the global biosensors market for non-clinical applications market in 2015 and occupied around 44% of the overall market share. Increased spending on military and defense and the presence of a large number of OEMs for fitness trackers and wearables such as Apple, FitBit, Motorola, Jawbone, and Nike are some of the factors that will propel growth in the biosensors market for non-clinical applications in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the biosensors for non-clinical applications segments based on the technology.
“The latest trend in the market is the use of biosensors to minimize drunk driving accidents. Biosensors can detect the amount of alcohol content in a driver’s body to prevent or minimize fatalities due to drunk driving. Vendors in the market are focusing on the development of various biosensor integrated devices that can help curb drunk driving accidents across the globe,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
At present, the electrochemical technology segment dominated the global biosensors market for non-clinical applications market by holding a market share of more than 68%. Electrochemical biosensors are preferred for healthcare devices to monitor body vitals and track activities. The healthcare segment dominates the biosensor market owing to the growing demand for wearable devices and patches. Manufacturers of such devices prefer the use of electrochemical sensors because of the sensitivity and response to changes in body functions.
The key vendors in the global biosensors market for non-clinical applications market include Biosensor Applications, DuPont, Remedios, and Smiths Detection. The global biosensors market for non-clinical applications is highly competitive owing to the presence of a large number of well-established vendors. The market is attracting several new companies due to the rapid adoption and increasing demand of biosensors for various applications. Players in the market are constantly looking for ways to enhance their market presence by focusing on the implementation of various new technology and M&A activities.
A more detailed analysis is available in the Technavio report, Global Biosensor Market for Non-clinical Applications 2016-2020.
We can customize reports by other regions and specific segments upon request.
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