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The biosensors in life sciences market share is expected to increase by USD 2.34 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 7.09%.
This biosensors in life sciences market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers biosensors in life sciences market segmentations by application (pharmacology, food and beverages, and others) and geography (North America, Europe, Asia, and ROW). The biosensors in life sciences market report also offers information on several market vendors, including Agilent Technologies Inc., Base Pair Biotechnologies Inc., BIOLAN MICROBIOSENSORES SL, Bio-Rad Laboratories Inc., Canvax Biotech SL, CapSenze HB, DuPont de Nemours Inc., Oxford Molecular Biosensors, Sartorius AG, and Thermo Fisher Scientific Inc. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The advantages of biosensors in drug analysis is notably driving the biosensors in life sciences market growth, although factors such as limitations associated with biosensors may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the biosensors in life sciences industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Biosensors In Life Sciences Market Driver
Advantages of biosensors in drug analysis is one of the key factors driving the growth of the global biosensors in life sciences market. The drug discovery process is designed by the pharmaceutical and biopharmaceutical companies for the discovery of new drugs. This process consists of various steps, including the identification of candidates, synthesis, characterization, screening, and assays for the therapeutic efficacy of the drug molecule. The overall drug discovery process involves huge cost and time. The determination of drug molecules in pharmaceutical formulations and biologic fluids in humans is an integral process to understand the stability and pharmacokinetics of the drugs. Pharmaceutical companies use a wide range of analytical techniques to understand drug activity during the drug discovery process. Moreover, biosensors are composed of a physical transducer and biological derived sensing elements. High sensitivity, real-time analysis, less time requirement for analysis, and reduced pretreatment steps are the major advantages of biosensors, which are boosting their demand among pharmaceutical companies across the globe. Optical and electrochemical biosensors are the two types of biosensors used by pharmaceutical companies. Hence, several advantages associated with the use of biosensors for drug analysis during the drug discovery process are fostering the growth of the global biosensors in life sciences market.
Key Biosensors In Life Sciences Market Trend
Focus on development of POC-based biosensors for food allergen monitoring will fuel the global biosensors in life sciences market growth. Biosensors are being widely accepted over the traditional methodologies by the food industry for the detection of food allergens. Food allergens may lead to life-threatening type I hypersensitivity immune responses among people. People may get accidentally exposed to food allergens due to the complexity of food preparation methods. Hence, monitoring of food with advanced biosensors is required to reduce the chances of developing food allergies through allergens. Vendors and other research organizations are focusing on the designing and development of advanced point-of-care (POC) biosensors for the detection of food allergens. The POC devices would help in advancing food allergen monitoring and are expected to allow individuals to identify allergens for preventing severe allergic responses. Vendors, as well as various public and private research organizations, are focusing on developing POC-based biosensors, in combination with genosensors and immunosensors. The increasing focus on designing and developing advanced and innovative POC-based biosensors for the detection of food allergens is propelling the growth of the global biosensors in life sciences market.
Key Biosensors In Life Sciences Market Challenge
Limitations associated with biosensors are the major challenge for the global biosensors in life sciences market growth. Biosensors are widely used by various industries, including the pharmaceutical and biotechnology industries and the food and beverage industry, for various applications. However, biosensors have several limitations. Readout time of biosensors varies from one type to another. Long readout time of biosensors may limit their adoption. In certain cases, pretreatment is required prior to every use of biosensors, which increases the time and cost of the overall process. This is expected to reduce the uptake of biosensors by industries, which can hamper the growth of the global biosensors in life sciences market. Moreover, despite the availability of innovative and advanced biosensors, certain unmet needs of end-users, such as pharmaceutical and food industries, are not fulfilled. Unmet needs for the development of biosensors capable of multisets monitoring and detection, integrated biosensing platforms, self-configuring biosensors, and limited availability of wireless biosensors for the overall life sciences industry. Such limitations are expected to restrain the growth of the global biosensors in life sciences market to a certain extent during the forecast period.
This biosensors in life sciences market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global biosensors in life sciences market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the biosensors in life sciences market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the biosensors in life sciences market encompasses successful business strategies deployed by the key vendors. The biosensors in life sciences market is fragmented and the vendors are deploying growth strategies such as quality and reliability to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The biosensors in life sciences market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the biosensors in life sciences market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global life science tools and services market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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41% of the market’s growth will originate from North America during the forecast period. The US is the key market for biosensors in life sciences market in North America. Market growth in this region will be slower than the growth of the market in regions.
Advantages of biosensors in drug analysis will facilitate the biosensors in life sciences market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, WHO declared COVID-19 as a pandemic, due to thisthe demand for biosensors has increased ten-fold due to their ability to detect viruses rapidly and cost-effectively. Therefore, the regional biosensors in life sciences market is expected to grow during the forecast period.
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The biosensors in life sciences market share growth by the Pharmacology segment will be significant during the forecast period. The pharmacology study of the drug molecules is an integral part of the drug discovery process, and it is performed to understand the molecular mechanism of action of the drug molecules in the biological fluids.
This report provides an accurate prediction of the contribution of all the segments to the growth of the biosensors in life sciences market size and actionable market insights on post COVID-19 impact on each segment.
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Biosensors In Life Sciences Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.09% |
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Market growth 2021-2025 |
$ 2.34 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.65 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 41% |
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Key consumer countries |
US, Germany, Japan, UK, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Agilent Technologies Inc., Base Pair Biotechnologies Inc., BIOLAN MICROBIOSENSORES SL, Bio-Rad Laboratories Inc., Canvax Biotech SL, CapSenze HB, DuPont de Nemours Inc., Oxford Molecular Biosensors, Sartorius AG, and Thermo Fisher Scientific Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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