How Has the Biosensor Market Doubled in Just Two Years?
Apr 20, 2022 Andy Ko
IDTechEx have recently released "Biosensors for Point-of-Care Diagnostics 2022-2032: Technology, Opportunities, Players and Forecasts", a market research report that evaluates the technologies and trends of point-of-care testing (POCT) devices within the medical diagnostics industry. This report covers the key technologies for point of care testing, including innovations in bioreceptors, transducers, and assay formats. IDTechEx examines how improvements in bioreceptor and transducer components are enabling testing at the point-of-care.
Never before has point-of-care testing been so crucial to healthcare systems. In the last 2 years, COVID-19 has caused the point-of-care biosensors industry to expand by 200%. This report explains the drivers causing the shift from conventional laboratory-based diagnostics toward point-of-care diagnostics performed directly at hospitals, clinics, offices, and at home. The IDTechEx report also analyzes the profound impact of COVID-19 on the market landscape and discusses how this will shape the future of point-of-care testing.
Source: IDTechEx - "Biosensors for Point-of-Care Diagnostics 2022-2032: Technology, Opportunities, Players and Forecasts"
Bioreceptors and Transducers
Biosensor-based POCT devices are composed of component technologies: bioreceptors which detect the marker of disease, and transducers which convert this event into a readable or measurable signal. "Biosensors for Point-of-Care Diagnostics 2022-2032: Technology, Opportunities, Players and Forecasts" examines biological receptors including enzymes, antibodies/antigens, and nucleic acids, and their applications within point-of-care are discussed.
A key development over the past decade, which has been accelerated by the pandemic, is the move of molecular diagnostics to the point of care. In the report, IDTechEx examines the central role of PCR as the gold standard of testing, and how companies are developing technologies to bring PCR and other nucleic acid amplification techniques closer to the point-of-care. The report also assesses the state of CRISPR and aptamer technologies and whether these are suitable technologies for point-of-care biosensing. The report examines point-of-care technologies for the transduction of biological signals and segments transducers by optical (color and fluorescence) and electrochemical (amperometry and conductance) technologies, comparing these different approaches. It discusses the important differentiating theme of bioreceptor labeling. The report assesses the emerging application of graphene and carbon nanotubes for electrochemical transduction and the state of the technology.
Due to the emergence of the pandemic, there has been rapid growth in the unit sales of lateral flow assays and integrated cartridges in the last two years. The IDTechEx report discusses what these formats are, and how they are suited to test for COVID-19 and other diseases. The report considers the format design of a biosensor to suit the test's overall process chain, and the importance of sample handling within this chain. It covers how different formats resolve the challenges around different process chains using methods such as microfluidics and centrifugation. For each format type, the report includes analysis of the manufacturing process and evaluation of key manufacturing and materials choices.
The global market for biosensors at point-of-care is forecast to reach $29.5 billion by 2032, with a CAGR of 4.8% since the pre-pandemic market. This will be mostly driven by the diabetes monitoring market. The new IDTechEx report, "Biosensors for Point-of-Care Diagnostics 2022-2032: Technology, Opportunities, Players and Forecasts", includes granular, 10-year (2022 - 2032) forecasts of the sales revenue of segmented markets by applications such as COVID-19, diabetes, infectious diseases, cardiovascular diseases, pregnancy and fertility, fitness, and cancer.
The forecasts discuss why diabetes is expected to become the largest application of biosensors in 2032, amongst other key trends. Forecasts are also segmented by formats of lateral flow assays, integrated cartridges, electrochemical test strips, and continuous glucose monitors. IDTechEx also forecasts the market segments by unit volumes. All assumptions and data points are clearly explained in the report and data spreadsheet.
For more information on this report, please visit www.IDTechEx.com/Biosensors or for the full portfolio of Healthcare research available from IDTechEx please visit www.IDTechEx.com/Research/Healthcare.