Point-of-care Biosensors Market to Grow with a CAGR of 7.89% through 2029
Increasing
demand for personalized medicine is expected to drive the Global Point-of-care
Biosensors Market growth in the forecast period, 2025-2029
According to
TechSci Research report, “Point-of-care Biosensors Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029F”,
the Global Point-of-care Biosensors Market stood at USD 73.01 Billion in 2023
and is anticipated to grow with a CAGR of 7.89% in the forecast period, 2025-2029. Early detection of diseases is pivotal for effective management and enhanced patient outcomes. Point-of-care biosensors play a crucial role in this by offering swift and convenient diagnostic testing outside conventional laboratory settings. These devices facilitate screening, diagnosis, and monitoring of various health conditions at the point of care, enabling timely intervention and treatment. With healthcare systems globally emphasizing preventive measures, the demand for point-of-care biosensors for early disease detection is projected to rise.
Personalized medicine, which tailors medical treatment to individual characteristics, is gaining momentum owing to advancements in genomics, proteomics, and other molecular diagnostic technologies. Point-of-care biosensors contribute to personalized medicine by furnishing real-time data on biomarkers, allowing healthcare providers to customize treatment plans based on individual patient profiles. The precision and actionable insights provided by point-of-care biosensors align with the objectives of personalized medicine, propelling their adoption in clinical settings.
The trend towards home-based healthcare is accelerating due to factors such as aging populations, escalating healthcare expenses, and advancements in telemedicine technologies. Point-of-care biosensors play a pivotal role in home-based healthcare by enabling patients to conveniently and proactively monitor their health conditions. These devices empower individuals to manage chronic conditions from their homes, reducing the necessity for frequent visits to healthcare facilities. As the demand for home-based healthcare solutions grows, so does the market for point-of-care biosensors.
Advancements in biosensor technologies, encompassing electrochemical, optical, and piezoelectric sensors, are driving innovation in the point-of-care diagnostics market. Miniaturization, heightened sensitivity, and enhanced connectivity capabilities are rendering point-of-care biosensors more reliable, user-friendly, and versatile.
There's a notable surge in point-of-care testing (POCT) within healthcare settings, driven by the imperative for swift and convenient diagnostic solutions. Point-of-care biosensors, facilitating real-time and on-site analysis of biological samples, are gaining momentum across various medical disciplines. This momentum is fueled by POCT's benefits, including reduced turnaround time, enhanced patient outcomes, and cost-effectiveness. The market trajectory underscores the escalating demand for biosensors capable of delivering precise and timely diagnostic results at the point of care.
A robust trend toward miniaturization and portability characterizes the evolution of point-of-care biosensors. Breakthroughs in microfabrication, nanotechnology, and sensor integration have facilitated biosensor device miniaturization without compromising analytical performance. Portable biosensor devices offer convenience, user-friendliness, and enable testing in resource-limited or remote environments. The market shift underscores the need for compact and handheld biosensor devices deployable across diverse healthcare settings.
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The Global Point-of-care
Biosensors Market is segmented into product,
platforms, end-user, regional distribution, and company
Based on the
platforms, immunoassays segment emerged as the dominant segment in the global
point-of-care biosensors market in 2023. Immunoassay-based
biosensors offer high specificity and sensitivity for the detection of target
analytes, making them well-suited for a wide range of applications in clinical
diagnostics. These biosensors utilize specific antibody-antigen interactions to
detect and quantify biomarkers associated with various diseases, including
infectious diseases, autoimmune disorders, and cancer. The ability of
immunoassay-based biosensors to accurately detect low concentrations of target
analytes makes them indispensable tools in the diagnosis and monitoring of
diseases. technological advancements in immunoassay-based biosensors have
enhanced their performance and versatility, further driving market growth.
These advancements include improvements in assay sensitivity, multiplexing
capabilities, and miniaturization of biosensor platforms.
North America emerged as the dominant
player in the global point-of-care biosensors market in 2023, holding the
largest market share. The prevalence of chronic diseases in North America, notably diabetes, cardiovascular diseases, and infectious diseases, drives a substantial demand for rapid and precise diagnostic solutions. Point-of-care biosensors offer timely and convenient testing capabilities, enabling healthcare providers to effectively diagnose and manage these conditions. The escalating healthcare expenditure in North America further bolsters the adoption of point-of-care biosensors, as healthcare organizations invest in technologies to enhance patient outcomes and mitigate healthcare costs. Moreover, the increasing awareness of the benefits of point-of-care diagnostics and the growing trend towards personalized medicine contribute to market growth in North America.
Major companies
operating in Global Point-of-care Biosensors Market are:
- Abbott
Laboratories Inc
- Koninklijke
Philips N.V.
- Accubiotech
Co, Ltd.
- ACON
Laboratories, Inc
- Becton,
Dickinson and Company
- Biolytical
Laboratories Inc.
- Danaher
Corporation (HemoCue)
- Siemens
Healthineers AG
- Meridian
Bioscience, Inc
- GE Healthcare Technologies Inc.
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“The
Global Point-of-care Biosensors Market is poised for significant growth in the
coming years. Technological advancements, particularly in biosensor
technologies, are driving innovation and enhancing the performance of
point-of-care diagnostic devices. Additionally, the rising prevalence of
chronic diseases, coupled with the growing emphasis on early disease detection
and personalized medicine, is increasing the demand for rapid and accurate
diagnostic solutions. The shift towards home-based healthcare and remote
patient monitoring is further fueling market growth, as patients and healthcare
providers seek convenient and accessible diagnostic options. Moreover,
supportive government initiatives and regulatory frameworks are creating a
conducive environment for market expansion”, said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“Point-of-care Biosensors Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Glucose Monitoring, HIV, Hepatitis C, Pregnancy), By Platforms (Microfluidics, Dipsticks, Immunoassays), By End User (Hospitals & Clinics, Pharmacy, Others) Region and Competition, 2019-2029F”,
has evaluated the future growth potential of Global Point-of-care Biosensors Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Point-of-care Biosensors Market.
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