APAC has been the most promising Biosensors Market is expected to reach $22.68 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) March 26, 2015 -- Biosensors are widely used as the analytical tool for providing qualitative or quantitative results by sensing the biological responses. The biosensors industry has witnessed significant technological advances in the last few years.The demand for glucose monitoring kits continues to increase with the increasing prevalence of diabetes.
Wearable biosensors are expected to emerge as a key revenue pocket for companies operating in the biosensors industry in the near future. This market is driven by the rising demand for fitness and health monitoring as well as multifunctional devices such as smart watches and smart glasses with advanced user interface. The most important advantage of the use of wearable health monitoring devices is that it allows the constant monitoring of vital body parameters and shows results in real-time. This can help patients to take preventive measures.
Geographically, the demand for biosensors from the North American market was the largest in 2013, owing to factors such as supportive government regulations for healthcare, increasing patient base, rapid adoption rate of advanced healthcare technologies, increase in the number of Clinical Laboratory Improvement Amendments (CLIA)-waived POC diagnostics tests, and so on. In North America, the U.S. government is taking initiatives to promote the POC diagnostics for ensuring timely monitoring of patients’ health and to restructure the current healthcare industry.
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