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The Bioelectronics and Biosensors Market will grow significantly due to technology, precision medicine, and wearable biosensor development.
AUSTIN, TX, UNITED STATES, January 29, 2025 /EINPresswire.com/ -- Market Size & Industry Insights
According to the SNS Insider Report,“The Bioelectronics and Biosensors Market size was USD 31.78 Billion in 2023 and is expected to reach USD 70.8 Billion by 2032, growing at a CAGR of 9.32% over the forecast period of 2024-2032.”
Expanding Market Driven by Technology and Personalized Healthcare
The bioelectronics and biosensors market are growing rapidly, fueled by technological innovations and the shift towards precision medicine. Biosensors are real-time data converters of biological responses into electrical signals, thereby improving diagnostics and therapy. Bioelectronics allows for new diagnostic and treatment approaches by using electronic devices to monitor and stimulate biological processes. The main growth drivers include the increasing prevalence of chronic diseases, demand for personalized healthcare, and point-of-care diagnostics. Moreover, the integration of IoT and wearable biosensors is expected to accelerate market growth, supporting the transition toward individualized healthcare solutions.
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SWOT Analysis of Key Players as follows:
Medtronic
F. Hoffmann-La Roche Ltd
Abbott
Siemens Healthineers
Bioelectronics Corporation
LifeSensors
AgaMatrix
Nova Biomedical
Broadcom
Beckman Coulter
OmniVision Technologies, Inc.
Sensirion AG
Sotera Wireless
HONEYWELL INTERNATIONAL INC.
Universal Biosensors
Bayer A. G.
Salvia Bioelectronics
Printed Electronics at RISE
Breezing Co
Centre for Organic Electronics
Segment Analysis
By Product
In 2023, Electrochemical biosensors dominate the market, primarily due to their widespread use in glucose monitoring for diabetic patients. Their cost-effectiveness, high sensitivity, and reliability make them optimal for most diverse medical applications. Optical biosensors are growing progressively for sophisticated application techniques of determining disease biomarkers, and to identify a situation more accurately while relating health or disease condition to it. But piezoelectric and thermal biosensors equally have very different roles as a result, finding applications only under specialized usage related to monitoring certain environmental or studying aspects of environmental changes.
By End-Use
In 2023, the healthcare sector leads the bioelectronics and biosensors market due to the increasing demand for medical monitoring, diagnostics, and personalized treatment solutions. Biosensors are essential in enhancing patient care through the continuous monitoring of vital health metrics. The food and beverage industry is also expanding, and biosensors are being used for quality control and food safety testing to ensure compliance with health standards. Environmental applications are also growing as biosensors are used to monitor pollutants and detect environmental hazards that contribute to global sustainability efforts.
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KEY MARKET SEGMENTS:
By Product:
Electrochemical Biosensors
Piezoelectric Biosensors
Thermal Biosensors
Optical Biosensors
By Application:
Implantable Devices
Biochips
Fabrication Templates
Prosthetics
Artificial/Bionic Organs
Biofuel Cells
Molecular Motors
Others
By End-Use:
Healthcare
Food & Beverage
Environmental
Others
Regional Analysis
The North American region is anticipated to experience rapid growth in the bioelectronics and biosensors market, with a projected CAGR of 9.29% between 2024 and 2031. The region is expected to expand significantly because of the growing demand for biosensors and bioelectronics in different industries, such as healthcare, food and beverage, and environmental monitoring. The healthcare industry is specifically driving the market in North America with the need for innovative diagnostic tools and personalized treatments.
North America has historically dominated the global market, thanks to robust research and development efforts, as well as technological advancements that continually push the boundaries of what is possible in bioelectronics.
Europe follows closely in market share, with Germany playing a key role due to its strong manufacturing base and focus on healthcare technologies. The increasing demand for both diagnostic and therapeutic devices is expected to keep North America and Europe at the forefront of this growing market.
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Recent Development
-In April 2023, Medtronic made significant advancements with the development of bioelectronic therapies for chronic pain management and conditions like epilepsy. Its MiniMed 780G system exemplifies the company's commitment to advancing personalized treatments through bioelectronics.
-In 2023, Siemens Healthineers is actively expanding its presence in the bioelectronics and biosensors field by integrating sensors in imaging devices, including MRI and X-ray machines. These innovations, announced, enable real-time monitoring and analysis of bodily conditions, reinforcing the company's leadership in diagnostic imaging and sensor technology.
TABLE OF CONTENT - Key Points
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Research Methodology
Chapter 4. Market Dynamics Impact Analysis
Chapter 5. Statistical Insights and Trends Reporting
Chapter 6. Competitive Landscape
Chapter 7. Bioelectronics and Biosensors Market Segmentation, by Product
Chapter 8. Bioelectronics and Biosensors Market Segmentation, by Application
Chapter 9. Bioelectronics and Biosensors Market Segmentation, by End Use
Chapter 10. Regional Analysis
Chapter 11. Company Profiles
Chapter 12. Use Cases and Best Practices
Chapter 13. Conclusion
Continued…
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Akash Anand
SNS Insider
+1 415-230-0044
[email protected]
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