Biosensor For Covid-19 Market size valued at USD XXX in 2020 and is expected to reach USD XXX by 2030 registering a CAGR of XXXBiosensors are the devices used for detecting electrical signals generated within the body that collects critical medical information by using bio samples. The evolution of nanotechnology along with combined effort of medical technology has made it possible to invent new devices. The biosensors are known for accurate information and early detection of the diseases. In the current scenario of Covid-19, these biosensors are playing a vital role in diagnosing the disease. There are few biosensor devices which have recently received Emergency Use Authorization (EUA) approval from U.S., Food and Drug Administration (FDA) like Logix Smart Coronavirus Covid-19 from the company Co-Diagnostics, Inc., STANDARD M nCoV Real-Time Detection Kit from the company SD BIOSENSOR. Graphene field-effect transistor (FET) biosensor manufactured by Grolltex is another revolutionized discovery in the field of biosensors.
Market Segmentation:
The global biosensor for covid-19 market is segmented by technology type into optical biosensors, electrochemical biosensors, piezoelectric biosensors, and thermal biosensors. By application type the market is classified into medical testing, and others. By end user type the market is categorized into research laboratories, home diagnostics, point of care, security, and bio defense. By region the biosensor for covid-19 market is segmented into, North America, Asia- Pacific, Europe and RoW.
Market Dynamics and Factors:
The rise in the chronic disease and sudden burst of diseases like Covid-19 has to lead to an increase in demand of biosensor for covid-19 market. Also, there have been recent developments in the field of nanotechnology, medicines and research & development programs, which have further boosted the innovation process, this shows that the biosensor for covid-19 market will increase rapidly. However, few factors like getting approval from authorities and time duration taken for the research are some of the restraint factors in the biosensor for covid-19 market growth. Covid-19 has caused more than 3, 74,158 deaths across the world by the end of May, 2020. Looking into such situation the requirement for biosensor and other kits are mandatory to be procured by every government of the world, this situation will further will raise the biosensor for covid-19 market demand in future.
Geographic Scenario
North America and Europe have larger growing population of covid patients in comparison to other developed countries. It has been observed that during Covid-19 outbreak most of the deaths occurred among the growing population and within these two regions only. Out of these two regions North America is expected to be the largest biosensor for covid-19 market devices which require more than 5 million devices on a priority basis. Europe is considered to be the second-largest growing market with more than 4 million of biosensor devices requirement. Whereas, Asia Pacific is also considered to be the largest market due to its large population. The shift of biosensor for covid-19 market can be predicted due to uncertainty in the number of growing Covid-19 cases in Asia-Pacific, and Middle East & African countries.
Competitive Scenario:
The key players in the global biosensor for Covid-19 industry are Co-Diagnostics, Inc., Abbott Laboratories, Seegene Inc., Medtronic Inc., Lifescan, Inc., LifeSensors Inc., Nova Biomedical Corp., F. Hoffman La-Roche Ltd., Acon Laboratories Inc., and Universal Biosensors.
Biosensor For Covid-19 Market Report Scope
Report Attribute | Details |
Analysis Period | 2020–2030 |
Base Year | 2021 |
Forecast Period | 2022–2030 |
Market Size Estimation | Million (USD) |
Growth Rate (CAGR%) | XXX |
| By Technology (Optical Biosensors, Electrochemical Biosensors, Piezoelectric Biosensors, and Thermal Biosensors), By Application (Medical Testing, and Others), By End User (Research Laboratories, Home Diagnostics, Point Of Care, Security, and Bio Defense) |
Geographical Segmentation | North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), South America (Brazil, Argentina, Rest of SA), MEA (UAE, Saudi Arabia, South Africa) |
Key Companies Profiled | Co-Diagnostics, Inc., Abbott Laboratories, Seegene Inc., Medtronic Inc., Lifescan, Inc., LifeSensors Inc., Nova Biomedical Corp., F. Hoffman La-Roche Ltd., Acon Laboratories Inc., and Universal Biosensors. |