Key Takeaways:
· Based on technology, the electrochemical segment led the market with the largest revenue share of 72.95% in 2023.
· The optical segment is expected to grow at the fastest CAGR during the forecast period.
· Based on application, the medical segment led the market with the largest revenue share of 67.57% in 2023.
· The agriculture segment is expected to grow at the fastest CAGR during the forecast period.
· Based on end-use, the PoC testing segment held the market with the largest revenue share of 47.67% in 2023.
· The home healthcare diagnostics segment is expected to grow at the fastest CAGR during the forecast period.
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The U.S. Biosensors market is witnessing a major growth contributed by the increasing demand for advanced healthcare solutions and the growing geriatric population. There are various major trends accelerating the market growth such as the integration of biosensors with mobile devices for improved user accessibility and the rise of wearable biosensors, which provide real-time health monitoring. In addition, the growing focus on personalized medicine and the increasing need for rapid diagnostics is further enhancing the innovation in biosensor technology and further driving the growth of the biosensors market in the U.S.
One of the major opportunities driving the growth of the U.S. biosensors market is rising technological advancements in biosensors by market players. The demand for innovative analytical devices such as biosensors is increasing across various industries, such as drug discovery, health monitoring, and medical diagnostics. Furthermore, the growing preference for the use of these products across diverse applications such as medical research, cancer diagnostic tests, and substance abuse tests, further transformed the growth of the biosensors market in the U.S.
Artificial intelligence can play an important role in improving biosensors in the U.S. By enabling the development of advanced wearable sensors for environmental, fitness, and health monitoring, AI biosensors are revolutionizing medical treatments. AI-powered biosensors offer significant opportunities for personalized healthcare and real-time disease detection. Integrating AI into biosensor systems shows immense promise for creating future medical devices that can improve patient outcomes and provide early detection and is expected to mark a transformative step forward in the U.S. biosensors market.
Market Trends
· Increase in Demand for Point-of-Care Testing Processes: The increase in demand for point-of-care procedures propels the biosensors market growth in the U.S. In addition, the prevalence of chronic diseases and increasing lifestyle-related ailments further drive the growth of the U.S. biosensors market.
· Adoption of Sensors for Several Applications: The increase in the adoption of these sensors for temperature-sensitive applications in industries, such as beverages, textiles, and healthcare enhances market growth in the U.S.
· High use in medical applications: One of the major factors driving the market growth is the increase in demand for biosensors in a wide range of medical applications along with the diabetes population. The increased need for tiny diagnostic devices and the rise in awareness regarding early disease diagnosis further drive the market growth.
Report Scope of U.S. Biosensors Market
|
Report Coverage |
Details |
|
Market Size in 2024 |
USD 10.55 Billion |
|
Market Size by 2033 |
USD 19.63 Billion |
|
Growth Rate From 2024 to 2033 |
CAGR of 7.14% |
|
Base Year |
2023 |
|
Forecast Period |
2024-2033 |
|
Segments Covered |
Technology, Application, End-use, Country |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
U.S. |
|
Key Companies Profiled |
Abbott; Medtronic; Roche Diagnostics; Dexcom; SENTINEL; Intricon Corporation; Quanterix; Koninklijke Philips N.V.; Masimo; Siemens Healthcare Private Limited; Molecular Devices, LLC.; Johnson & Johnson Services, Inc.; Thermo Fisher Scientific Inc.; PerkinElmer Inc.; Covaris, LLC. |
Segment Insights
By Technology Insights
Based on technology, the electrochemical segment led the market with the largest revenue share of 72.95% in 2023. The segment growth in the U.S. is attributed to the increasing compatibility with several detection mechanisms and electrode materials. 3D printing is a major example of the electrochemical segment. It can significantly enhance the performance of electrochemical biosensors for cancer detection in various ways. 3D printing allows the creation of sensors that are more selective and sensitive to cancer biomarkers. 3D-printed microfluidic channels can enhance the sensitivity of the biosensor and improve the capture of target cells in a sample, which further drives the segment growth.
The optical segment is anticipated to grow fastest during the forecast period. The segment growth in the market is driven by increasing demand for optical biosensors in analysis. In addition, optical biosensors allow kinetic and equilibrium studies, concentration assessments, structural investigations, fermentation monitoring, and receptor-cell interactions.
By Application Insights
Based on application, the medical segment led the market with the largest revenue share of 67.57% in 2023. The increasing demand for accurate diagnostic tools, rising advancements in healthcare technology, and increasing demand for the medical segment are expected to drive the segment growth. In the medical segment, the CT 5300 system promises to integrate advanced AI capabilities for diagnosis, addressing the rise in complex cardiac cases and enhanced accuracy in imaging, streamlining workflow efficiency and further expected to drive the segment growth.
The agriculture segment is expected to grow fastest during the forecast period. The segment growth in the market is attributed to the increasing precision farming and crop management, an emphasis on environmental management and sustainable agriculture, and increasing demand for food production to address growing population needs.
By End-use Insights
Based on end-use, the PoC testing segment held the market with the largest revenue share of 47.67% in 2023. The segment growth in the market is attributed to the increasing cost-effective and user-friendly market demand and increasing rapid results causing treatment decisions and on-the-spot diagnosis. PoC testing devices are powerful tools for monitoring, diagnosis, and detection of diseases. With interesting applications in the field of personalized medicine, PoC testing devices are becoming popular.
The home healthcare diagnostics segment is anticipated to grow fastest during the forecast period. The segment growth in the market is driven by various factors such as rising technological advancements enabling home-based diagnostics and monitoring, increasing demand for accessible and convenient healthcare solutions, increasing chronic diseases, and a growing geriatric population.
· For instance, in April 2024, the Food and Drug Administration (FDA) announced the launch of the Home as a Health Care Hub, a new initiative created to improve health equity and advance healthcare-at-home in the U.S.
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U.S. Biosensors Market Top Companies
· Abbott
· Medtronic
· F. Hoffmann-La Roche Ltd
· SENTINEL
· Intricon Corporation
· Quanterix
· Koninklijke Philips N.V.
· Masimo
· Siemens Healthcare Private Limited
· Molecular Devices, LLC.
· Johnson & Johnson Services, Inc.
· Thermo Fisher Scientific Inc.
· Covaris, LLC
Recent Developments
· In August 2024, DexCom, Inc., the global leader in real-time continuous glucose monitoring for people with diabetes announced that Stelo, the first over-the-counter glucose biosensor in the U.S., is now available for purchase without a prescription4 at Stelo.com.
· In September 2024, Abbott announced the launch of the Lingo over-the-counter CGM biosensor in the U.S. and made its Lingo continuous glucose monitoring system available without a prescription.
· In January 2024, testing startup Grip Molecular launched home-use graphene biosensor assays. The aim behind this launch was to shake up the market for home-based infectious disease tests with biosensor-based cartridges that can measure molecular proteins or targets.
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. biosensors market
By Technology
· Thermal
· Electrochemical
· Piezoelectric
· Optical
By Application
· Medical
o Cholesterol
o Blood Glucose
o Pregnancy Test
o Drug Discovery
o Infectious Disease
· Food Toxicity
· Bioreactor
· Agriculture
· Environment
· Others
By End-use
· Home Healthcare Diagnostics
· PoC Testing
· Food Industry
· Research Laboratories
· Security and Bio-defence
By Regional
· West
· Midwest
· Northeast
· Southwest
· Southeast
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