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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