Biochemical Sensors Market Size Worth $46 Billion By 2030: IndustryARC

The Global Biochemical Sensors Market size is predicted to reach $46 billion by 2030, growing at a CAGR of 6.8% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Emerging applications for biomedical sensors in the field of nanotechnology and continual innovations leading to the development of innovative non-invasive sensor-based medical applications are poised to propel the market growth, finds IndustryARC in its recent report, titled “Biochemical Sensors Market Size, Share & Trends Analysis Report By Product Type (Whole-Cell Biosensor, Enzyme Biosensor, DNA Based Biosensor, Surface Plasmon Resonance Biosensor, Immuno Biosensor, Others), By Detection Method (Electrochemical, Amperometric, Potentiometric, Conduct Metric, Thermometric, Piezoelectric, Optical, Others), By Sensing Parameters (Heat, Light, Mass, Refractive Index, Chemical Change, Electrical Change, Others), By Application (Diagnostics, Contamination Check, TIC, Quality Check, Security Screening, Forensic Examination, Others), By End User ( Healthcare, Chemical, Pharmaceutical, Food and Beverage, Water and Wastewater, Defense and Law Enforcement, Environmental Monitoring), By Region and Segment Forecasts, 2024–2030”.

 

With increasing environmental concerns, there is a growing need for monitoring and controlling pollution levels in air, water and soil. Biochemical sensors can detect and quantify various pollutants, toxins and chemicals, contributing to environmental monitoring efforts. The need for sustainable practices and environmental preservation drives the demand for biochemical sensors in pollution control and monitoring applications.

In agriculture, biochemical sensors can be used for soil analysis, crop health monitoring, and precision farming. These sensors enable farmers to optimize resource utilization, detect nutrient deficiencies, monitor water quality, and assess plant diseases. With the growing need for sustainable and efficient farming practices, the adoption of biochemical sensors in agriculture is likely to expand. In India, the agri-tech sector is valued at $204 million and comprises 1% of the entire agricultural industry. It is expected to hit the $24.1 billion mark by 2025.

Biochemical sensors are essential tools in scientific research and development across various fields, including pharmaceuticals, biotechnology and life sciences. Researchers rely on biochemical sensors to analyze biological processes, study biomarkers and develop new drugs and therapies. The continuous advancement of scientific research and development activities contributes to the growth of biochemical sensors market. In 2023, Biosensors International built a global R&D centre that provides round the clock research and development services, with innovation centres in Shanghai, Singapore, California, and Europe, in order to transform the company into a vital player over the next 3 years. 

The adoption of wearable biochemical sensors in bio-surveillance and defense applications holds significant promise and potential for enhancing public health, military preparedness, and response to biological threats. These wearable sensors leverage biochemical detection technologies to monitor and detect various biomarkers and pathogens in real-time, providing valuable insights and early warning capabilities.

Biochemical sensors are being developed for use in portable, handheld devices that allow individuals to perform diagnostic tests at home or healthcare professionals to conduct tests at the point of care. The demand for point-of-care and home testing solutions is increasing, driven by the need for convenience, rapid results and reduced healthcare costs. This trend is particularly evident in the monitoring of chronic diseases such as diabetes and cardiovascular disorders. In August 2022, NanoDx Inc., a developer of innovative medical diagnostic solutions, and SkyWater Technology announced the first commercially available protein-responsive nano biosensor.

● Biochemical Sensors Market Size and Forecast 

● Biochemical Sensors Market Trends

● Biochemical Sensors Market Analysis by Product Type

● CAGR of the market during the forecast period 2024-2030.

● Value Chain analysis of key stake holders.

● Detailed analysis of market drivers and opportunities during the forecast period.

● Biochemical Sensors Market size estimation and forecast.

● Analysis and predictions on end users’ behavior and upcoming trends.

● Competitive landscape and Vendor market analysis including offerings, developments, and financials.

● Comprehensive analysis of challenges and constraints in the Biochemical Sensors Market.

The pandemic led to a significant surge in the demand for diagnostic testing, including the detection of viruses, antibodies, and other biomarkers related to COVID-19. Biochemical sensors were among the technologies explored and utilized in the development of rapid antigen tests, serological tests, and biosensors for detecting the SARS-CoV-2 virus. These sensors played a crucial role in facilitating rapid and accurate testing, driving the demand for these sensors in the healthcare sector.

Due to the Russia-Ukraine war the regional market dynamics got affected and both the countries have significant potential as markets for biochemical sensors, particularly in healthcare and industrial sectors. If the conflict leads to economic downturns, changes in government policies, or trade disruptions, it could impact the demand and adoption of biochemical sensors in these markets.

 

The Global Biochemical Sensors Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

● GE Healthcare

● Medtronic PLC

● Bio-Rad Laboratories, Inc.

● Honeywell International Inc.

● STMicroelectronics N.V.

● First Sensor AG

● Smith’s Medicals

● NXP Semiconductor

● Danaher Corporation

● Nova Biomedical

 

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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

Mr. Venkat Reddy

IndustryARC

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