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Global Sales of Biosensor Market

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According to a new market report published by Persistence Market Research “Global Market Study on Biosensor: Asia-Pacific to Witness Highest Growth by 2020,” the global biosensor market was valued at USD 12,963.6 million in 2014 and is expected to g
Global Sales of Biosensor Market to Reflect US $22,551.2 million in 2020
According to a new market report published by Persistence Market Research “Global
Market Study on Biosensor: Asia-Pacific to Witness Highest Growth by 2020,” the global
biosensor market was valued at USD 12,963.6 million in 2014 and is expected to grow at a
CAGR of 9.7% from 2014 to 2020, to reach an estimated value of USD 22,551.2 million in
2020.
Globally, the biosensors market is witnessing significant growth due to increasing demand
of point of care testing. In addition, rising prevalence of chronic and lifestyle associated
diseases, growing geriatric population, increasing application of biosensors in various
industries and growing application of nanotechnology in healthcare are also driving the
growth of the market. In addition, emergence and demand of personalized medicine and
non-invasive biosensors would also drive the growth for the market.
However, strict regulatory requirements and reimbursement policy issues in healthcare
system hamper growth of the global biosensors market. In addition, the regulatory process is
not keeping pace with the rapid development of new medical technologies.The global
biosensors market is anticipated to grow from an estimated USD 12,963.6 million in 2014 to
USD 22,551.2 million in 2020 at a CAGR of 9.7% during the forecast period.
View Full Report TOC, Figures and Tables @
https://www.persistencemarketresearch.com/market-research/biosensor-market/toc
In North America, growing aging population, increasing health awareness, rising chronic
and lifestyle diseases, technological developments for various home use applications, and
appropriate insurance coverage are driving the use of biosensor devices in the market.
In Europe, the biosensors device market is driven by rising diagnostic requirements due to
increasing lifestyle associated diseases, aging population and improving healthcare
infrastructure. On the other hand, increasing healthcare costs has shifted the focus of
healthcare from hospitals to home, which would increase the use of biosensors devices in
the region.
However, Asia is becoming one of the most attractive markets for medical device
companies. The growth for biosensor devices in Asia is much higher than developed
countries due to widening health insurance penetration, large population base and upgradation of health care systems.
Abbott Laboratories, Inc, Siemens Healthcare, Nova Biomedical Corporation, Bayer AG,
Johnson and Johnson, Medtronic, Inc. and Hoffmann-La Roche, Ltd. are some of the major
players of biosensors market.
Browse Report Overview @
https://www.persistencemarketresearch.com/market-research/biosensor-market.asp
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ashutosh
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