Biosensors Market Size

Biosensors Market Size

The global biosensors market size was valued at around USD 30.1 billion in 2023 and is estimated to grow at 7.7% CAGR from 2024 to 2032. The growing prevalence of diabetes worldwide is the primary factor driving the expansion of the business.

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Effective management and control of diabetes are essential to avoid complications such as kidney failure, gangrene, lower limb amputation, heart attack, blindness, and stroke. According to data provided by the World Health Organization (WHO), the prevalence of diabetes has been rising rapidly in low- and middle-income countries compared to high-income countries as of 2021. Rapid urbanization has led to sedentary lifestyles, unhealthy diets, and higher stress levels among youth, which are contributing factors for diabetes and, consequently.
 

Biosensors are analytical devices within medical and diagnostic systems that convert biological signals into measurable outputs. They consist of a biological recognition element, such as enzymes or antibodies, which interacts with a specific analyte, and a transducer that translates this interaction into a quantifiable signal. This technology facilitates rapid, sensitive, and precise detection of various health-related biomarkers, supporting early disease diagnosis and effective monitoring.