Global Market for Biosensors in Medical Diagnostics to Reach US$16.5 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Biosensors in Medical Devices markets. The global demand for Biosensors in Medical Devices is forecast to reach US$16.5 billion by the year 2017. Biosensors market is being driven by the increase in R&D activities for developing biosensors, which provide highly accurate real-time diagnosis, and the demand for these biosensor based equipment for use in medical diagnosis. Expanding medical applications, increase in R&D activities, and the emergence of new technologies, such as microfluidics, and non-invasive biosensing alternatives, constitutes the other market drivers.

Biosensors in Medical Diagnostics: A Global Strategic Business Report

Follow us on LinkedIn – Biosensors, which have been in the developmental phase since early 1990s, are increasingly finding applications in blood glucose monitoring, drug discovery, drug analysis, and whole blood analyzers. Besides, biosensors are also making inroads into other application areas, such as vitamin analysis, and water and wastewater analysis. Medical segment continues to be the front-runner in global biosensor market. Main research area for biosensors is concentrated in the medical segment, which accounts for a lion’s share of the global biosensors market. Medical biosensors are employed in Point-of-Care examining of blood gases, health related signs such as monitoring of cholesterol, glucose, and coagulation levels.

The US represents the single largest market for Biosensors globally, followed by Europe. Asia-Pacific is expected to emerge as the fastest growing market for biosensors by 2017, and presents potential growth prospects. Growing health-related concerns, and an increase in affordability levels with regards to healthcare, are the major factors driving the market for biosensors in Asia-Pacific. Glucose Biosensors represent the largest segment, cornering a lion’s share of the global biosensors market, as stated by the new market research report on Biosensors in Medical Diagnostics. Diabetes management has become an attractive industry by itself, presenting huge opportunities for the growth of enhanced diabetes management products, glucose detection devices, and Glucose Biosensors. Key factors driving growth for glucose biosensors include user-friendly designs, growing diabetic population, and point-of-care applications.

As technology advances with time, more convenient and user-friendly techniques of monitoring glucose levels are evolving. In the medical field, a majority of biosensors are included in glucose meters, blood gas analyzers, electrolyte analyzers, and metabolite analyzers. Of these, over half of the biosensors are used in glucose meters. More than 85% of the global biosensors market is captured by glucose biosensor, a compact instrument with exceptional technology for the accurate and rapid diagnoses of blood glucose level. Glucose biosensors, in general, are currently finding huge market in the medical diagnostics sector and are anticipated to greatly revolutionize blood glucose monitoring, with many avant-garde technologies under experimentation. Further, Biosensors hold great potential in the food industry. Few promising markets include food defense, microbial food safety, testing for GMOs (genetically modified organisms), and pesticide residue screening among others. In this regard, Georgia Institute of Technology developed a biosensor whose response is faster.

The Biosensors market is characterized by cut-throat competition. Glucose meters have become commodities, leading to a decline in prices, shorter market cycles, and a splurge of competitive technologies. Over the years, two important market strategies have evolved in the monitoring devices segment. Firstly, a series of strategic alliances such as partnerships and joint ventures, have been entered into to deliver superior care to patients. Secondly, companies have slashed prices of systems and meters in order to increase installed base. Specialization is also a key competitive strategy adopted by several market participants.

Major companies developing biosensor-based devices profiled in the report include Abbott Point Of Care Inc., Siemens Healthcare Diagnostics Inc., Animas Corp., LifeScan Inc., Medtronic Diabetes, Hoffman La Roche. Leading developers of biosensor technology analyzed include AgaMatrix Inc., Cranfield Health, LifeSensors Inc., M-Biotech, and Nova Biomedical Corp.

The research report titled "Biosensors in Medical Diagnostics: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the Biosensors market in Medical Diagnostics, current market trends, key growth drivers, new product innovations/launches, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the global biosensors market for the years 2009 through 2017 for the regions, including US, Canada, Japan, Europe, Asia-Pacific and Rest of World. Key product segments analyzed include Medical Biosensors (Glucose Biosensors and Other Medical Biosensors), Environmental Biosensors, and Other Biosensors. Also, a six year historic review (2003-2008) is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Biosensors_in_Medical_Diagnostics_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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