Bioelectronics and Biosensors Market Share , Size , Analysis , Growth , Trends and Forecasts to 2024 | Hexa Research
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Bioelectronics and Biosensors Market Share , Size , Analysis , Growth , Trends and Forecasts to 2024 | Hexa Research
" The global bioelectronics and biosensors market was estimated at USD 11.4 billion in 2013 . The market is anticipated to grow at a healthy CAGR over 10 %, exceeding USD 28 billion by 2024 ."
The global bioelectronics and biosensors market is projected to surpass USD 28 billion by 2024 from USD 11.4 billion in 2013 . It can register a decent CAGR over 10 % from 2016 to 2024 ( forecast period ). High incidence of target diseases may drive the industry over the next eight years . Demand for diagnostic & monitoring tools , such as cardiac pacemakers , blood sugar level , and other implantable clinical devices , could boost the worldwide market in the near future .
Growing prevalence of diabetes along with the rising need to evaluate and monitor blood glucose levels could positively influence market demand . Technological advancements coupled with focus on innovation is anticipated to fuel global demand . For instance , in 2014 ‘ HealthPatch MD ’ developed by Vital Connect Inc . received FDA approval . HealthPatch MD is a biosensor that captures biometric measurements when applied to the skin .
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