Recent Advances in Biosensor Technology

Biosensors or biosensors are one of the most valuable and emerging technologies in recent years [1]. These sensors are installed on smart devices such as mobile phones, smart watches, smart bracelets, smart car steering wheels and more. The market for biosensors can be categorized by type (patch sensor and builtin device), product (wearable and non-wearable), technology (electrochemical and optical), application (POC, home diagnostics, research laboratory, food, and beverage) and geography. Global Forecast By 2024, the overall biosensor market is projected to grow from $21.2 billion in 2019 to $31.5 billion in 2024 with a combined annual growth rate of 8.3% over the forecast period. This growth is likely to be exacerbated by sustained technological advances in biosensor ecosystems, increased use of biosensors for non-medical applications, profitable growth in POC (clinical instant) diagnostics, and increased demand for glucose monitoring systems [2].