From GlobeNewswire: 2025-02-12 09:30:00

The Biosensors Market was valued at $27.84 billion in 2023 and is expected to reach $56.54 billion by 2032, growing at a CAGR of 8.2%. Factors such as wafer production, chip design trends, fab capacity, and supply chain metrics are driving market growth. Leading players include Bio-Rad Laboratories, Medtronic, and Abbott Laboratories.

Non-Wearable Biosensors dominate the market, with a 64% revenue share in 2023, driven by their wide applications in medical diagnostics and environmental monitoring. The Wearable Biosensors segment is growing at a CAGR of 8.89%, fueled by the demand for real-time health monitoring through devices like smartwatches and fitness trackers.

Electrochemical Biosensors led the market in 2023, known for fast response times and versatility in applications like medical diagnostics. Optical Biosensors are the fastest-growing segment, driven by advances in nanotechnology and real-time detection preferences in biomedical work and drug discovery.

Medical Testing applications dominate the Biosensors Market, with a 42% revenue share in 2023, driven by the need for rapid and accurate diagnostic tests. Agricultural Testing applications are growing at a CAGR of 10.75%, driven by the demand for sustainable farming and food safety solutions.

North America leads the Biosensors Market, capturing 43% of the revenue share in 2023, due to advanced healthcare infrastructure and technological advancements. The Middle East & Africa region is the fastest-growing, with a CAGR of 10.34%, driven by healthcare enhancements and government investments. Saudi Arabia’s Vision 2030 initiative prioritizes healthcare modernization and technology integration for growth. A new report covers wafer production volumes by region, chip design trends, fab capacity utilization, and supply chain metrics. The biosensors market segmentation includes products, types, technologies, and applications. SNS Insider offers market research and consulting services globally.



Read more at GlobeNewswire: Biosensors Market Size to Surpass USD 56.54 Billion by 2032