Biochemical Sensors Becoming A Healthy Market

According to Research Solution Insights, the global biochemical sensor market will rise at a CAGR of 14.7% by 2025. At this pace, the market is expected to reach $58.48 billion by the end of 2025, from its valuation of $17.1 billion in 2016. Based on product, electrochemical sensors lead with a share of 32% in 2016.

 

Other Findings

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  • Competition prevailing in the global biochemical sensor market is considerably high. Players are concentrating on expanding their regional footprint, especially in Asia.
  • Prominent names in the global biochemical sensor market are GE Healthcare, Thermo Fisher Scientific, Honeywell International, Inc., Bio-Rad Laboratories, Inc., and Polestar Technologies, Inc.
  • Regionally, North America held dominant with a share of over 29% in the global market in 2016.
  • Application across diverse industries, especially healthcare, to boost growth.
  • Rising demand for advanced wearable biochemical sensors, and the growing population of point of care diagnostics will create lucrative market opportunities.
  • High cost of biochemical sensors to limit sales.                     

 

For more details, checkout the Research Solution Insights report.

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