Biosensors and nanosensors market to reach USD 43.5B by 2028

The global market for biosensors and nanosensors was valued at $28.7 billion in 2022 and is expected to reach $43.5 billion by 2028 growing at a CAGR of 7.3% from 2023 to 2028. North America accounts for the largest market share of the market, followed by Europe and Asia-Pacific. When segmented by technology, the global market’s electrochemical biosensors subsegment holds the largest share, with 33.3%, followed by the MEMS and optoelectric biosensors subsegments. Key market participants include F. Hoffmann-La Roche AG, Abbott Laboratories Inc., Bayer AG, Honeywell International Inc., Medtronic Inc. and Dexcom Inc., among others.

Biosensors and nanosensors have broad applicability across many applications. Biosensors are used in analytical devices that combine biologically sensitive elements with a physical or chemical transducer to detect the presence of special compounds in an environment.

Biosensors are frequently associated with micro- and nanoscale sensors because the miniaturization increases the number of applications. For example, reducing the size of the sensor element to the scale of the target’s physical area provides a higher sensitivity, and reduces reagent volumes and associated costs. In medical applications, miniaturized biosensors enable point-of-care diagnostics, multi-agent detection as well as the potential for use in in vitro as well as in vivo medical applications.

Nanosensors can be applied to chemical or mechanical applications. For example, they can be used to detect chemicals and gases for pollution monitoring or for medical diagnoses as blood-borne sensors or lab-on-a-chip devices. They can monitor physical parameters such as temperature, displacement, flow or act as accelerometers in a microelectromechanical systems (MEMS) device.

Nanosensors can be applied to biological or surgical requirements to detect and transfer nanoparticle information to other devices. They can also be used in the development of silicon computer chips or nanorobotics applications.

This report represents an in-depth analysis of the global market for biosensors and nanosensors by product type, technology, application and geography. The scope of the report includes an overview of the global market trends, with 2022 considered as the base year, as well as estimates for 2023 through 2028, with projections of CAGR across this forecast period.

The report also includes a discussion of technological, regulatory and competitive elements as well as the economic trends affecting the market. It also explains the major drivers and regional dynamics of the global market for biosensors and nanosensors and identifies the current trends within the industry. The report concludes with detailed profiles of the major vendors in the global market. Research and Markets