Medical Devices Industry Reports Biosensors Market | Page 2

REPORT DESCRIPTION
Biosensors Market – Overview
Advancement of biotechnology in genetics, bioinformatics, and medicine has fueled growth of biosensors market,
thus allowing early diagnosis and better treatment outcomes of diseases such as cancer and diabetes. Moreover,
point-of-care biosensors aid in sensitive and rapid detection of target analytes, which is important in the diagnosis
of diseases such as diabetes, cardiovascular and infectious diseases, and cancer and it provides a cost-effective
option to the patient.
Increasing prevalence of diabetes and cardiovascular diseases, and increasing demand for cost-effective,
disposable, and user-friendly devices are the factors driving growth of the biosensor market. Biosensors are used
on a routine basis by diabetic patients to check the blood sugar level, as these devices allow easy monitoring and
self-testing, thus aiding in diabetes management. According to the Global Diabetes Community, 2017, around 422
million adults are living with diabetes globally, where the number is expected to escalate to around 642 million by
2040. Also, according to the American Heart Association, 2016, cardiovascular diseases account for 17.3 million
deaths every year globally, where an estimated 23.3 million people are expected to die from CVD by 2030, thus
illustrating the rising need to adopt devices offering timely diagnosis of craniological disorders.