North America Biosensors Market

North America Biosensors Market Size (2024-2032):

The size of the North America biosensors market was worth USD 9.89 billion in 2023. The North America market is anticipated to grow at a CAGR of 7.21% from 2024 to 2032 and be worth USD 18.51 billion by 2032 from USD 10.60 billion in 2024.

Market Scenario

Biosensors are devices that are utilized to detect the presence or concentration of a biological analyte, like an anatomical structure or a microorganism. These Biosensors consist of three major parts, which includes a component for recognizing the analyte and produce a signal, a transducer of the message, and a reader device. And these reader devices connect through the associated electronics or signal processors which are primarily responsible for the display of the results in a user-friendly way.

These biosensors are the diagnostic and monitoring device that uses a living or a biological organism to detect the chemicals in samples and are also widely used for cerebrospinal testing, cholesterol testing, and parasites testing. The usage of biosensor technology is rising in North America owing to the technological advancements and broader application areas in various industries. Also, the high expenditure on the healthcare sector in North America by the governments is resulting in the growth of using biosensor devices extensively for accurate, reliable and quick results for early detection and prevention of diseases.

Market Drivers and Restraints

Technological advancements in biosensor technology and increased usage of the biosensor in monitoring & diagnostic devices of the market are driving the North American biosensor market growth.

A factor anticipated to boost the growth of the target market in North America during the forecast period is the rising prevalence of chronic diseases, mainly diabetes.

Additionally, the growing aging population and technological development have to provide opportunities for the major players in the market to grow.

Market Segmentation

North America Biosensors Market Analysis By Type

• Wearable 
• Non-wearable 

North America Biosensors Market Analysis By Technology

• Introduction 
• Thermal 
• Optical
• Electrochemical
• Other

North America Biosensors Market Analysis By End-Use Industry 

• PoC
• Food and Beverages 
• Home Diagnostics
• Others

Geographical Analysis

• US
• Canada

Market Key Players:

The Key Players of the Biosensors market in North America includes Danaher Corporation, ABBOTT Laboratories, Siemens AG, AGAMATRIX, INC., Bayer AG, Johnson and Johnson, LifeSensors, Inc., Medtronic Plc., Bio-Rad laboratories, Inc., and Analog Devices, Inc.

Market Recent Developments

• Danaher Corporation has announced that the US Federal Trade Commission has accepted its proposed consent order in connection with their definitive agreement and General Electric Company for acquiring the Biopharma business of GE Life Sciences.
• Abbott Laboratories have won the approval from the US for its molecular test for the Coronavirus strain COVID-19, which will be used by hospitals and academic medical centers which are to speed up the diagnostic capabilities for the disease sweeping across the country.