Biosensor refers to investigative devices composed of transducer and biological elements for providing analytical information. These devices convert biological response into an electrical response, to recognize the function and structure of various molecules. The biosensors work on various technologies, including electrochemical biosensors, optical biosensors, thermal biosensors and piezoelectric biosensors.

The global biosensors market is growing at a significant rate, due to growing geriatric population, increasing prevalence of chronic and lifestyle associated diseases, and increasing prevalence of diabetes. In addition, the increasing demand of point of care testing and biosensors in various industries is also driving the growth of the global biosensors market.

Factors, such as stringent regulatory requirements and reimbursement policies issues in healthcare systems, are inhibiting the growth of the global biosensors market. The growing number of product launches and miniaturization and development of devices for point of care are the key trends been observed in the global biosensors market.

Geographically, the Asia-Pacific region is expected to witness the fastest growth in the coming years. The biosensors market in Asia-Pacific region is growing, due to increasing awareness of clinical outcomes, large population base, growing geriatric population, increase in diabetic population and technological advancement in medical devices & equipment. The awareness of various diseases and requirement of high quality care is increasing day by day. In addition, Asia-Pacific has become one of the attractive markets for medical device companies, due to low regulatory requirements and low cost manufacturing of devices.

Some of the major companies in the biosensors market include LifeSensors, Inc., Siemens AG, Abbott Laboratories Inc., Nova Biomedical Corporation, Medtronic, PLC, I-SENS Inc., Johnson and Johnson, TaiDoc Technology Corporation, ACON Laboratories and F. Hoffmann La Roche.