February 21, 2025 08:30 ET | Source: SNS Insider pvt ltd SNS Insider pvt ltd
Pune, Feb. 21, 2025 (GLOBE NEWSWIRE) -- Bio Detectors and Accessories Market Size & Growth Analysis: air quality dataset
“According to SNS Insider, The Bio Detectors and Accessories Market size was valued at USD 16.9 billion in 2023 and is expected to reach USD 52.9 billion by 2032, expanding at a CAGR of 13.5% during the forecast period 2024-2032.”
The increasing focus on early disease diagnosis, along with governmental projects to enhance healthcare infrastructure, is driving market growth. This growing demand for bio detectors is due to their need for accurate and timely diagnostics, whether in clinical, research, or industrial settings. Moreover, the development of AI and ML detection systems in bio-detection systems is significantly improving their precision and efficiency. The role of bio detectors in modern healthcare is well acknowledged, as evident from government statistics. The World Health Organization (WHO) claims that early detection of infectious diseases can cut the mortality rate by 50%. In addition, advancements in bio-detection devices have led to their approval by the U.S. Food and Drug Administration (FDA) in recent years as illustrated by their growing adoption.
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Major Players Analysis Listed in this Report are:
Bio Detectors and Accessories Market Report Scope
The instruments segment captured the largest market share in 2023, contributing 36% to overall revenue. This segment includes devices such as biosensors, spectrometers, and chromatography systems that are extensively used in detecting biological substances. These instruments are in high demand due to their accuracy, portability, and capacity for real-time results. For example, several biosensors have emerged for point-of-care testing (POCT) due to their rapid detection of biomarkers and reduced sample preparation. Moreover, the growing adoption of bio-detection instruments can be attributed to advances in nanotechnology and the development of more sensitive and compact instruments.
The clinical segment accounted for a dominant revenue share of 37% in 2023. In clinical settings, bio detectors have been largely implemented for laboratory diagnostic purposes, monitoring patient health, and genetic testing. The increasing incidence of chronic diseases, such as cancer and diabetes, has fueled the demand for innovative diagnostic tools. For example, bio detectors can be employed in cancer screening to detect any tumor markers at an early stage, which can make treatment easier. Additionally, the increasing incidence of personalized medicine is significantly propelling the use of bio detectors in genetics testing and pharmacogenomics.
In 2023, the largest revenue segment of Point of Care Testing (POCT) was 38% POCT instruments are emerging increasingly as a method to perform high-quality diagnostic testing with speedy TAT at the patient bedside without the requirement of a lab. This is especially useful in an emergency, where rapid diagnosis can be the difference between life and death. Also, the growing adoption of POCT devices in home healthcare settings is helping to drive market growth. The POCT segment witnesses demand for these bio detectors among consumers for self-testing, such as portable glucose monitors, pregnancy test kits, and so forth.
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Bio Detectors and Accessories Market Segmentation
North America held the largest revenue share 40% of the Bio Detectors and Accessories market in 2023. Some of the factors contributing to the growth of the region US are high expenditure on healthcare, better healthcare infrastructure, and governmental support in research and development. In fact, the U.S. Centers for Disease Control and Prevention (CDC) have been working hard to tout the use of bio detectors for disease surveillance and outbreak management. Furthermore, the existing presence of prominent market players, including Thermo Fisher Scientific and Abbott Laboratories, is driving innovation and market growth. Europe accounted for a substantial market share, due to strict regulations regarding disease detection and prevention. Within the Horizon Europe Program, the European Commission has invested significant funds toward developing innovative bio-detection technologies. At the forefront of the movement are nations such as Germany, France, and the UK, adopting bio detectors in clinical and industrial settings. As an example, nationwide screening programs for infectious diseases in Germany have resulted in an increased demand for bio detectors.
The Asia Pacific region is growing with the fastest CAGR during the forecast period is attributed due to the growing healthcare infrastructure and government spending in biotechnology. Countries such as China, India, and Japan are concentrating on improving their diagnostic infrastructure to address the increasing burden of infectious diseases. For instance, the National Health Mission (NHM) of the Indian government has initiated programs promoting access to diagnostic services in villages, which have stimulated the adoption of bio detectors.
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Table of Contents – Major Key Points
5. Statistical Insights and Trends Reporting
5.2 Global Market Volume and Demand Growth (2020-2032)
5.3 Regulatory Approvals and Compliance (2023-2024)
5.4 R&D Investment and Technological Advancements
5.5 Healthcare Spending on Bio Detection Solutions (2023)
7. Bio Detectors and Accessories Market by Product
8. Bio Detectors and Accessories Market by Application
9. Bio Detectors and Accessories Market by End-Use
12. Use Cases and Best Practices
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