Global Biosensors Market to Witness 10% Cagr During 2015 - 2020

P&S Market Research releases a new research report with market overview, trends, DRO analysis, market segmentation, market size, share, forecast, porter analysis, recent developments, competitive scenario and top competitor profiles in:
Global Industry Insight: Biosensors Market Development and Demand Forecast to 2020
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The global biosensors market was valued at $12,963.9 million in 2014, and it is expected to grow at a CAGR of 9.7% during 2015 to 2020, to reach $22,490 million by 2020. The global biosensors market is being driven by increasing prevalence of diabetic population, and rise in geriatric population. Diabetes is a chronic and non-communicable disease, and its global prevalence is increasing enormously. Increasing demand of point of care testing, rising prevalence of chronic and lifestyle associated diseases, and increasing application of biosensors in various industries are some of the other factors driving the global biosensors market.
In addition, rising product innovation in biosensors helps medical device manufacturing company to develop innovative products for advance diagnostic solutions in order to respond to the rising industry demands. In order to reduce the global burden of chronic and lifestyle associated diseases, accurate diagnosis is needed for prevention of such diseases; and biosensors help in detection and monitoring of these diseases. However, strict regulatory requirements and reimbursement policy issues in healthcare system are inhibiting the growth of the global biosensors market.
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Based on technology, the global biosensors market has been breakdown into electrochemical, optical, thermal, and piezoelectric. Among all the technologies, electrochemical had a major share in the...