The PoC Diagnostic Biosensors Market will grow at a CAGR of 8.20%, from $12.31 billion in 2021 to $25.02 billion in 2030.
In order to detect a particular kind of chemical, a biosensor uses a living thing or a biomolecule (such as enzymes or antibodies). A biosensor typically consists of a bioreceptor (such as an enzyme, antibody, cell, nucleic acid, or aptamer), a transducing component (such as a semiconductor or nanomaterial), and an electronic system that comprises a signal amplifier, display, and processor. The bioreceptor finds the essential chemical in the analyte, which then sends the information to the transducer.
Enzyme-based, immunosensors, tissue-based, DNA biosensors, thermal biosensors, and piezoelectric biosensors are the six categories of biosensors now in use.
The need for point-of-care biosensors has increased due to the rising incidence of chronic and infectious diseases among the global population, which drives the market’s expansion. With the arrival of the COVID-19 pandemic, the demand for point-of-care biosensors that can test for the antigen increased significantly, driving the need for devices that can detect the SARS-CoV2 antigen. As of 8 June 2022, there were more than 530 million confirmed COVID-19 cases, according to statistics released by the WHO. Around 158 million cases are recorded from the Americas, more than 221 million cases are from Europe, and 61 million cases are reported from the Western Pacific region.
Point-of-care biosensors are expensive to produce, preventing widespread development and delaying the goods’ arrival at customers. As a result, these customers search for other diagnostic technique, which restrains the growth of the worldwide POC diagnostic biosensors market.
The need for POC diagnostic biomarkers is expanding, and numerous established businesses and start-ups are stepping up their efforts to develop new technology. The rising prevalence of chronic and infectious diseases like cancer, diabetes, and COVID-19 is responsible for the rising need for these devices. Clinicians can now give patients with chronic and infectious diseases customized medications thanks to new technologies like POC sensing systems, biomedical POC devices, clscreen printing electrodes, paper-based microfluidic assay, screen printing electrochemical POC biosensors, and Lateral flow assay (LFA) based optical POC biosensors. Due to the rising demand for the devices, these new technologies may help the PoC diagnostic biosensors market flourish.
The biomarkers segment ruled the global POC diagnostic biosensors market and will expand at a 14.2% CAGR. Improved diagnosis, treatment, and monitoring of several diseases result from the growing importance of companion diagnostics and biomarkers in medical practice. Additionally, biomarkers are crucial to creating personalized medicine, whose use has grown recently due to the different drawbacks of conventional medical practices. The adoption of personalized medicine and the growing significance of companion diagnostics hasfueled the market expansion.
In 2021 electrochemical segment ruled the entire market. The largest market share is due to the extensive monitoring and analysis of electrochemical biosensors used in biological and biochemical procedures. Electrochemical biosensors are extremely stable, have a reduced detection threshold, and are repeatable. Compatibility with contemporary microfabrication techniques, resilience, simplicity of handling, affordability, disposability, and low power requirements are a few advantages.
In 2021 the infectious diseases segment ruled the market with 30% of the revenue share. The market is driven by an increase in the demand for speedy tests, which compels industry companies to offer PoC solutions to decentralized regions. Point-of-care diagnostic biosensor sales have increased due to the rise in infectious diseases such as COVID-19, tuberculosis, pneumonia, and influenza, fueling the market’s expansion.
The clinic category accounted for the largest revenue share of the market for POC diagnostic biosensors in 2021. Pharmacies and retail clinics mostly produce revenue for this segment. Access to new diagnostic technology, healthcare coverage, and cost are the main variables influencing the growth of POC diagnostics applications. Global market expansion is influenced by factors such as elderly citizens’ improved access to healthcare, the prevalence of infectious diseases (such as pneumonia, influenza, tuberculosis, and COVID-19), and increasing pressure on conventional clinics.
Asia Pacific will experience the strongest regional market growth between 2020 and 2030. An increasing number of local diagnostic kit and reagent manufacturers offering various testing options to diagnose coronavirus infection will drive the Asia Pacific point-of-care market. The ability of many nations to increase COVID-19 testing is always growing.
- QTL Biodetection LLC
- Molecular Devices Corp.
- Abbott Laboratories
- Biosensors International Group, Ltd.
- Siemens Healthineers AG
- DuPont Biosensor Materials
- Nova Biomedical
- Johnson & Johnson
- Molex LLC
- Koninklijke Philips N.V.
- LifeScan, Inc.
- TDK Corporation
- GE Healthcare
- Zimmer & Peacock AS