Enjoy complimentary customisation on priority with our Enterprise License!
The bio-detection market size is forecast to increase by USD 16.85 billion, at a CAGR of 15.2% between 2023 and 2028.
Explore market size, adoption trends, and growth potential for bio-detection market Request Free Sample
The bio-detection industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The clinical segment is estimated to witness significant growth during the forecast period.
The market encompasses various technologies and applications, including metabolic profiling, RNA detection, microbial identification, food safety testing, PCR amplification, data acquisition systems, aptamer technology, protein detection, image analysis software, real-time PCR, electrochemical sensing, toxin detection, microfluidic devices, microarray technology, signal transduction, molecular diagnostics, optical sensing, antibody engineering, genomic analysis, chromatography techniques, DNA sequencing, pathogen detection, sample preparation methods, lab-on-a-chip systems, ELISA assays, and point-of-care diagnostics. In 2023, the clinical segment held a significant market share, primarily due to the increasing demand from critically ill patients post-pandemic and the growing geriatric population worldwide. Additionally, the rise in cases of infectious diseases like influenza and measles in developed and developing countries is fueling the demand for bio-detection in clinics.
However, the increasing preference for point-of-care testing (POCT) bio-detection processes might hinder the growth of this segment during the forecast period. Moreover, the food safety testing segment is expected to witness substantial growth due to stringent regulations and growing consumer awareness regarding food safety. The market for protein detection is also projected to expand significantly, driven by its applications in various industries, including healthcare, agriculture, and research. The market for biosensors, including optical sensing, electrochemical sensing, and mass spectrometry, is anticipated to experience robust growth due to their high sensitivity, selectivity, and accuracy. Furthermore, the emergence of next-generation sequencing, digital PCR, lateral flow assays, and lab-on-a-chip systems is revolutionizing the bio-detection industry by providing faster, more accurate, and cost-effective solutions.
The Clinical segment was valued at USD 4.74 billion in 2018 and showed a gradual increase during the forecast period.
In terms of regional markets, North America and Europe are expected to dominate the market due to the presence of major market players and advanced healthcare infrastructure. However, the Asia Pacific is projected to exhibit the highest growth rate during the forecast period, driven by the increasing demand for bio-detection in the food and beverage industry and the growing awareness regarding healthcare and diagnostics in the region. In conclusion, the market is experiencing continuous growth and innovation, driven by the increasing demand for rapid, accurate, and cost-effective solutions across various industries and applications. The market is expected to witness significant growth in the coming years, with the clinical, food safety testing, and protein detection segments leading the way.
The emergence of advanced technologies, such as next-generation sequencing, digital PCR, and lab-on-a-chip systems, is further fueling the market's expansion.
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
See How Bio-Detection Market Demand is Rising in North America Request Free Sample
The market experienced significant growth in 2023, with North America being the largest revenue contributor. The US, in particular, led the market due to the heightened focus on drug discovery and development by pharmaceutical companies like Novartis and Pfizer. The increasing demand for bio-detection products in research and development for drug development and disease diagnosis is driving market expansion. Europe followed North America in market size, with countries such as Germany and the UK contributing significantly due to their robust healthcare sectors and ongoing investments in biotechnology research. The Asia Pacific region is expected to witness the fastest growth, fueled by increasing healthcare expenditures, a growing population, and the rising demand for advanced bio-detection technologies.
The market's growth is also driven by technological advancements, such as the integration of artificial intelligence and machine learning in bio-detection systems, which enable faster and more accurate detection of diseases and contaminants. Furthermore, the increasing prevalence of chronic diseases and the need for early disease detection have boosted market demand.
Comparatively, the market for traditional lab-based bio-detection methods is expected to decline due to the growing preference for rapid and point-of-care testing solutions. This shift is driven by the need for faster and more accurate results, as well as the increasing availability and affordability of these technologies. In conclusion, the market is experiencing robust growth, driven by technological advancements, increasing healthcare expenditures, and the growing demand for rapid and accurate disease detection. The market is expected to continue expanding in the coming years, with the Asia Pacific region witnessing the fastest growth.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is experiencing significant advancements, particularly in the realm of nucleic acid amplification technologies. These technologies, including Polymerase Chain Reaction (PCR) and its next-generation counterparts, play a pivotal role in the immunoassay development process. Biosensor design optimization using microfluidic chip fabrication techniques has led to a 15% improvement in sensitivity and a 20% reduction in assay time. Real-time PCR data analysis software enables high-throughput screening assays, reducing downtime by nearly one-third. Clinical validation of diagnostic tests is a critical aspect of the market. Multiplexed detection systems design allows for the simultaneous identification of multiple biomarkers, enhancing the accuracy and efficiency of diagnostic procedures. Portable diagnostic devices, equipped with advanced electrochemical biosensors and optical biosensors for pathogen detection, are revolutionizing point-of-care diagnostics. These devices offer rapid results, enabling quicker treatment decisions and improved patient outcomes. Innovations in the market extend to next-generation sequencing applications, genomic and proteomic biomarker analysis, metabolic profiling for disease diagnosis, and microbial identification using mass spectrometry. Rapid diagnostic tests for infectious diseases and foodborne pathogen detection methods are also witnessing substantial advancements. Environmental monitoring sensor networks are increasingly employing bio-detection technologies to ensure regulatory compliance and maintain public health. These advancements underscore the market's potential for continued growth and innovation.
The bio-detection market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the bio-detection market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Bio-Detection Industry
Companies are implementing various strategies, such as strategic alliances, bio-detection market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
20/20 GeneSystems Inc. - This innovative company specializes in bio-detection technologies, providing a single test solution for various cancers.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Bio-Detection Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
178 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.2% |
Market growth 2024-2028 |
USD 16848.8 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
12.86 |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this bio-detection market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.