Biosensor Technologies Market Forecast and CAGR
According to latest research by Persistence Market Research, biosensor technologies market is set to witness positive growth during 2021-2031. Biosensors are widely used by patients in the home because of their ability to assess health, the onset and progression of disease, and hence, are expected to boost market growth over the forecast period.
The term “biosensor” refers to powerful and innovative analytical devices that contain biological sensing elements for a variety of uses, including drug discovery, diagnostics, biomedical, food safety and processing, environmental monitoring, defense, and security.
Abbott introduces Libre sense on 17 September 2020 glucose sport biosensor in Europe, world’s first glucose biosensor designed for athletes.
Advances in technology and various non-medical-based applications are expected to increase the applicability of the biosensor market and fuel its growth. Factors such as continuous technological advances in the biosensor ecosystem, increasing use of biosensors for non-medical applications, favorable growth for POC diagnostics, and increasing demand for glucose monitoring systems are driving the growth of the biosensor market.