Biosensor devices are analytical devices which are used in biological applications or biomimetics to develop and create recognition of any desired analyte. Such biomimetics are mostly antibodies or enzymes. Biosensor analytical devices are used in various industries.

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At present, aggressive R&D is in process to miniaturize these devices and deliver much smaller and more affordable test monitors. Special efforts are being undertaken to develop non-invasive biosensing devices and biosensors based on nanotechnology.

The medical applications of biosensors are the dominant segment in the overall biosensors industry. Biosensors have varied applications in medical science such as blood glucose monitoring, drug analysis, drug discovery, and as whole blood analyzers. Medical biosensors have huge demand in hospitals for the purpose of real-time point-of-care testing and blood gases monitoring. As the awareness regarding health and wellbeing is increasing in the global population, the use of biosensors in diagnostics is simultaneously growing.

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Continuous research in this field is also increasing the efficacy, accuracy, portability, and sensitivity of such devices thus increasing their demand in the global healthcare industry. With such mass-developments in the field of medical biosensors, more and more market players are entering in this field, thus increasing the competitiveness.

One of the major drivers of the biosensor analytical devices market is the large scale R&D activities in this field. Many universities and device manufacturers are conducting intensive research to develop new and better platforms for accurate, pain-free and sensitive diagnostic biosensor platforms. In addition, research is also being conducted to develop such devices which would analyze multiple parameters for point-of-care and home diagnostics.

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Use of nanotechnology in biosensors is also opening new avenues in this field. Increase in investments in the biosensors industry has also resulted into availability of equipments such as cheap kits and compact monitors. Efforts are also being initiated to develop platforms which will serve a varied range of applications simultaneously.

Glucose biosensors is the largest commercial segment in the biosensor analytical devices market. Some of the major players in this market are global manufacturers such as Roche Diagnostics, Abbott Point of Care Inc., LifeScan Inc., AgaMatrix Inc., Siemens Healthcare Diagnostics Inc., Neosensors Limited, M-Biotech, Medtronic Diabetes, and Nova Biomedical Corp.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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