GLOBAL SYNTHETIC BIOSENSORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global synthetic biosensors market is estimated to be valued at USD 27.94 Bn in 2024 and is expected to exhibit a CAGR of 7.3%  during the forecast period (2024-2031). Synthetic biosensors have emerged as an important tool in biotechnology and biomedicine. They utilize synthetic biology approaches to create artificial receptors that can accurately and sensitively detect target analytes. By interfacing biological components like receptors, enzymes, and signaling molecules with physicochemical transducers, synthetic biosensors offer significant advantages over conventional detection methods like real-time monitoring, high sensitivity and specificity. Areas like medical diagnostics, bioprocess monitoring, food quality control, and environmental monitoring are increasingly leveraging the potential of synthetic biosensors. With continuous technological advancements, the synthetic biosensors market is poised to grow substantially in the coming years.

Market Dynamics:

The global synthetic biosensors market is driven by factors such as rising incidence of chronic and infectious diseases necessitating advanced diagnostic tools, growing demand for point-of-care testing, increasing funding for biosensor related R&D from private and public organizations, and technological developments enhancing sensitivity, stability and miniaturization of biosensors. However, high development costs, regulatory issues regarding commercial approval, and technical limitations pertaining to reproducibility, shelf-life, and signal interference are some challenges restraining the market growth. The advent of microfluidics, nanotechnology, and advanced nanomaterials is widening the applicability of synthetic biosensors and creating new opportunities. Additionally, the growing synthetic biology industry and its ability to create novel biological components like recognition elements, receptors, and signaling modules provides an impetus to ongoing research in this field.

Key Features of the Study:

• This report provides an in-depth analysis of the global synthetic biosensors market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global synthetic biosensors market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study includes TIVIC HEALTH, Cala Health, Inc., Medtronic, Abbott, Spark Biomedical, Inc., BioElectronics, GENERAL ELECTRIC, BIOTRONIK, electroCore, Inc., Soterix Medical Inc, SetPoint Medical, NeuroEM. Therapeutics, ReShape Lifesciences, Inc., Neuropile, Vivani Medical Inc., Boston Scientific Corporation, NEVRO CORP., and Salvia BioElectronics.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global synthetic biosensors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global synthetic biosensors market.

Market Segmentation

• Type:
  • Sensor Patch
  • Embedded Device
• Modality:
  • Non-wearable
  • Wearable
• Technology:
  • Piezoelectric
  • Optical
  • Electrochemical
  • Others
• Application:
  • Home Diagnostics
  • Research Labs
  • Point-of-care Testing
  • Others
• Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Company Profiles:
  • TIVIC HEALTH
  • Cala Health, Inc.
  • Medtronic
  • Abbott
  • Spark Biomedical, Inc.
  • BioElectronics
  • GENERAL ELECTRIC
  • BIOTRONIK
  • electroCore, Inc.
  • Soterix Medical Inc
  • SetPoint Medical
  • NeuroEM Therapeutics
  • ReShape Lifesciences, Inc.
  • NeuroSpine
  • Vivani Medical Inc.
  • Boston Scientific Corporation
  • NEVRO CORP.
  • Salvia BioElectronics