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Biosensors Market Size & Demand Report 2033 | Report By FMI

According toFuture Market Insights newly released Biosensors Market analysis report, the global market size of the Biosensors Market in 2022 will be US$ 24.5 Billion. The projected market growth is expected to be significantly higher than the historical growth, with a CAGR of 9.5% from 2023 to 2033. Medical biosensors are expected to be the most profitable segment, with a CAGR of more than 10.5% from 2023 to 2033.

The biosensors market is being driven by an increase in chronic illnesses such as diabetes, an increase in biotechnology research and development, and an increase in demand for homecare equipment. The increased use of biosensors in glucose monitoring systems has resulted in market expansion. However, market growth is expected to be hampered by the high costs associated with these devices, as well as a lack of willingness to embrace new treatment devices. Improvements in biosensor technology, on the other hand, that add portability, are expected to drive market growth.

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Because of their ability to assess fitness as well as the onset and progression of illness, biosensors are widely used in home-based healthcare by patients. As a result, the market is expected to expand throughout the forecast period. A variety of non-medical activities, as well as technological advancement, are expected to broaden its applicability and, as a result, support its growth. Pregnancy testing, cholesterol testing, blood glucose testing, and drug detection are some of the healthcare services that are expected to have a positive market impact.

Government projects aimed at improving proteomics and genomics are expected to drive the biosensors market during the forecast period.

Competitive Analysis

Because of the increased demand for biosensors, global manufacturers are accelerating and improving their manufacturing processes by implementing cost-effective solutions. A few of the key players in the biosensors market include Bio-Rad Laboratories Inc., Medtronic, Abbott Laboratories, Biosensors International Group, Ltd., Pinnacle Technologies Inc., Ercon, Inc., DuPont Biosensor Materials, Johnson & Johnson, Koninklijke Philips N.V., LifeScan, Inc., QTL Biodetection LLC, Molecular Devices Corp., Nova Biomedical, Molex LLC, TDK Corporation, Zimmer & Peacock AS, and Siemens Healthcare.

Some of the recent developments of key Biosensors providers are as follows:

In January 2022, Roche and Sysmex agreed to a Global Business Partnership (GBP) to provide haematological diagnostic services. The new collaboration will use IT technology to improve clinical decision-making and the consumer experience. This long-running, fruitful collaboration is still going strong, providing haematological diagnostic improvements to labs worldwide.
In December 2020, Abbott announced that FreeStyle Libre 2, its next-generation sensor-based glucose monitoring device, has been approved by Health Canada for adults and children (4 years and older) with diabetes.
Market Segments Covered in Biosensors Market Analysis

By Product Type:

Medical
Cholesterol
Blood Glucose
Blood Gas Analyzer
Pregnancy Testing
Drug Discovery
Infectious Disease
Food Toxicity
Bioreactor
Agriculture
Environment
Others
By Technology:

Thermal
Electrochemical
Piezoelectric
Optical
By End-Use:

Home Healthcare Diagnostics
PoC Testing
Food Industry
Research Laboratories
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Meningococcal Vaccines Market Size, Share & Trends – 2032

Over the forecast period, the market for meningococcal vaccines is anticipated to grow at a CAGR of 8.6%, reaching US$ 3.4 Bn in 2022. According to Future Market Insights (FMI), the conjugate vaccines segment held a 62.6% revenue share of the market in 2021.

The global meningococcal vaccines market is expected to grow at an 8.6% CAGR during the forecast period, reaching US$ 3.4 billion in 2022. According to Future Market Insights (FMI), the conjugate vaccines segment will have a 62.6% revenue share in 2021.

Partnerships between the private sector and public institutions have been the chief agenda of global public health initiatives.

The last few years have witnessed an increase in several private-public partnerships specifically focussing on vaccine provision in developing countries. Partnerships like the International Coordinating Group on Vaccine Provision for Epidemic Meningitis Control (ICG) help magnify the vaccine outreach to remote areas of the world with the maximum need.

The governments of several countries across the globe initiate immunisation programmes periodically and these programmes are backed by global organisations such as UNICEF and WHO and private not for profits like the Global Alliance for Vaccines and Immunization (GAVI).

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A classic example of how private-public partnerships are helping boost vaccination programmes across deep regional pockets is Brazil.

In 2010, Ezequiel Dias Foundation, Brazil formed a strategic alliance with Novartis Vaccines & Diagnostics for the sustainable supply of Menjugate MenC vaccines for Brazil’s National Immunization Program. By 2015, Brazil became self-sufficient in the production of the meningococcal C conjugated vaccine for the country’s public vaccination programmes. Such initiatives at the global level are anticipated to support global immunisation goals and at the same time boost growth of the meningococcal vaccines market.

Key Companies Profiled:

Sanofi Pasteur Inc.
GlaxoSmithKline Plc
Wyeth Pharmaceuticals
Bio-Manguinhos
Bio-Med Pvt. Limited
Chongqing Zhifei Biological Products Co., Ltd.
Hualan Biological Engineering Inc.
Incepta Pharmaceuticals Ltd.
Pfizer INC
Serum Institute of India Pvt. Ltd
Walvax Biotechnology Co., Ltd.
Factors Leading to Worldwide Adoption of Meningococcal Vaccination Programmes

The global meningococcal vaccines market is expected to be driven by enhanced access to vaccines in low and middle-income countries, growing investments by manufacturers and governments to cope with pandemic meningitis outbreaks, and rapidly growing consumption of meningococcal vaccines bolstered by immunisation alliances and mass vaccination campaigns among others.

Partnerships and alliances between manufacturers and governmental healthcare organisations are facilitating the speedy introduction of vaccines in some of the economically challenged countries of the Middle East and Africa region. Enhanced access to vaccines in under-penetrated global markets is expected to accelerate revenue growth of the global meningococcal vaccines market.

Approval of new vaccines in the U.S and Europe in 2015 and 2017 to treat meningococcal meningitis has revolutionised the global immunisation landscape. This is further boosting the growth trajectory of the global market for meningococcal vaccines.

GlaxoSmithKline to Lead the Global Meningococcal Vaccines Market with About 50% Market Share Recorded in 2017

The global meningococcal vaccines market is highly consolidated, with GlaxoSmithKline and Sanofi together holding about 80% of the global market share in 2017. Pfizer is the third largest company in this market with just under 12% market share in 2017.

Companies are expanding their production capacities through the acquisition of established vaccines production units of other global or local companies.

Sanofi has a huge pipeline of 17 active meningococcal vaccines programmes and is targeting emerging markets; while GlaxoSmithKline has 5 active pipeline programmes for meningococcal vaccines, all of which are in the phase II clinical stage. Addition of the vaccine Bexsero has enabled GlaxoSmithKline to defend its brand against Sanofi’s aggressive portfolio in the paediatric vaccines space.

Why Future Market Insights?

Comprehensive analysis on evolving purchase pattern across different geographies
Detailed insights of market segments and sub-segments for historical as well as forecast period
• A competitive analysis of prominent players and emerging players in the keyword market
• Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario

Key Market Segments Covered in Meningococcal Vaccines Industry Research

By Product:

Polysaccharide
Conjugate
By Age Group:

Infants
Children
Adolescents & young Adults
Adults
By Distribution Channel:

Pharmacies
Community Clinics
Public Health Agencies
Others (hospital pharmacy, private market etc.)

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