Rockville, April 14, 2023 (GLOBE NEWSWIRE) -- The market for biodetectors and related products is anticipated to expand at a consistent CAGR of 12.6% from 2022 to 2032. By 2032, the market is expected to be valued over US$ 47.1 billion, up from US$ 12.7 billion in 2021. During the forecast period, there is expected to be an increase in biodetectors and accessories market demand as a result of growing pollution levels and the burden of airborne diseases.
Positive government initiatives and public awareness efforts in response to the growing trend of environmental degradation have created growth prospects for the biodetectors and accessory markets.
The outlook for the biodetectors and accessories market is likely to be enhanced by the increased risk of cardiovascular disease, arsenicosis, cancer, and chronic renal disease.
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| Biodetectors and Accessories Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 12.6% |
| Market growth 2022-2032 | US$ 47.1 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Biodetection Instruments Inc., PositiveID Corporation, BioDetection Systems, Bertin Technologies, BBI Detection |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Drivers
- Growing awareness of the harmful effects of environmental pollution on human health has been witnessed. This has led to an increased demand for detectors and accessories that can detect pollutants and toxins in the environment.
- Advances in technology have led to the development of more sophisticated and accurate detectors and accessories. This has increased the accuracy and reliability of these devices, making them more effective in detecting contaminants and pathogens.
- Biodetectors and accessories are increasingly being used in healthcare settings to detect infections and diseases. This has led to an increased demand for these devices in the healthcare sector.
- Governments around the world are increasingly imposing regulations on food safety and environmental pollution. This has led to an increased demand for detectors and accessories that can help companies comply with these regulations.
- Emerging economies, such as India and China, are experiencing rapid industrialization and urbanization, which has boosted the demand for detectors and accessories to detect contaminants and pollutants in the environment.
Restraints
- Biodetectors and Accessories are often expensive due to the high cost of research and development. This can limit their adoption by smaller organizations or those with limited budgets.
- Despite growing awareness, there is still a lack of knowledge about the benefits and applications of detectors and accessories, especially in emerging economies. This can hinder the market growth.
- Biodetectors and accessories rely on advanced technology to function effectively. Technological limitations can impede the accuracy and reliability of these devices, which can impact their adoption.
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Key Market Trends
- There is a growing emphasis on developing bio-detectors and accessories that can quickly and accurately detect contaminants, pathogens, and pollutants. This trend is driven by the need for quick response times in food safety, healthcare, and environmental monitoring.
- Nanotechnology is playing an increasingly important role in the development of bio-detectors and accessories. Nanomaterials are being used to create more sensitive and accurate sensors, which are driving innovation in the market.
- There is a growing demand for portable bio-detectors and accessories that can be used in the field or at remote locations. This trend is driven by the need for on-site detection and monitoring, especially in the environmental and healthcare sectors.
- Biosensors are becoming increasingly popular in the Biodetectors and Accessories Market. These devices use biological components to detect specific molecules, which makes them highly accurate and sensitive.
- Sustainability is becoming an increasingly important consideration in the Biodetectors and Accessories Market. Companies are exploring ways to create devices that are environmentally friendly, such as using renewable energy sources or reducing waste.
- Biodetectors and accessories are increasingly being integrated with other technologies, such as artificial intelligence (AI) and the Internet of Things (IoT). This trend is driving the development of smarter and more connected devices that can provide real-time monitoring and analysis.
Competitive Landscape
Key players in the market are focusing on various strategies such as product launches, contracts, collaborations, and acquisitions to maintain a sustainable share of the market.
For instance,
- In December 2021, Thermo Fisher Scientific announced its acquisition of PPD, a leading global provider of clinical research services, for $17.4 billion. This acquisition is expected to strengthen Thermo Fisher's position in the life sciences and clinical diagnostics markets.
- Moreover, Bruker Corporation acquired Canopy Biosciences, a provider of gene editing and gene expression products and services, for $430 million. This acquisition is expected to enhance Bruker's capabilities in genomics and transcriptomics research.
The COVID-19 pandemic has driven significant demand for testing solutions, leading to the development of a range of COVID-19 testing kits and systems by companies such as Roche Diagnostics, Bio-Rad Laboratories, Thermo Fisher Scientific, and others.
- In 2021, several companies launched new detectors and accessories, including Bio-Rad Laboratories' QX200 Droplet Digital PCR System, Thermo Fisher Scientific's Applied Biosystems TaqPath COVID-19 CE-IVD RT-PCR Kit, and Agilent Technologies' 1260 Infinity II LC System.
Key Segments
- By Product Type
- Biodetection Instruments
- Reagents & Media
- Accessories & Consumables
- By Application
- Clinical
- Food & Environment
- Defense
- By End user
- Point of Care Testing
- Diagnostics
- Research Laboratories
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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Key Questions Covered in the Biodetectors and Accessories Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Biodetectors and Accessories sales grow until 2033?
- Which are the factors hampering the Biodetectors and Accessories demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Biodetectors and Accessories Market during the forecast period?
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