Belgium Biosensors Market Size & Outlook, 2022-2030
Belgium biosensors market, 2018-2030 (US$M)
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Belgium biosensors market highlights
- The Belgium biosensors market generated a revenue of USD 476.7 million in 2022 and is expected to reach USD 796.0 million by 2030.
- The Belgium market is expected to grow at a CAGR of 6.6% from 2023 to 2030.
- In terms of segment, electrochemical was the largest revenue generating technology in 2022.
- Electrochemical is the most lucrative technology segment registering the fastest growth during the forecast period.
Biosensors market data book summary
| Market revenue in 2022 | USD 476.7 million |
| Market revenue in 2030 | USD 796.0 million |
| Growth rate | 6.6% (CAGR from 2022 to 2030) |
| Largest segment | Electrochemical |
| Fastest growing segment | Electrochemical |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, Electrochemical, Piezoeletric, Optical |
| Key market players worldwide | Bio-Rad Laboratories Inc, Medtronic PLC, Abbott Laboratories, Biosensors, Pinnacle Financial Partners Inc, DuPont Nutrition & Biosciences, Johnson & Johnson, Koninklijke Philips NV, Nova Biomedical, Koch Industries, TDK Corp, Siemens AG |
Other key industry trends
- In terms of revenue, Belgium accounted for 1.8% of the global biosensors market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany biosensors market is projected to lead the regional market in terms of revenue in 2030.
- Italy is the fastest growing regional market in Europe and is projected to reach USD 493.8 million by 2030.
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Biosensors Market Scope
Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
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Belgium biosensors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosensors market will help companies and investors design strategic landscapes.
Electrochemical was the largest segment with a revenue share of 71.45% in 2022. Horizon Databook has segmented the Belgium biosensors market based on thermal, electrochemical, piezoeletric, optical covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing prevalence of diabetes in Belgium is one of the major factors promoting the market growth. According to the data published by International Diabetes Federation in 2020, the prevalence rate of diabetes was around 6.80% and almost 561,200 cases of diabetes were reported in 2019 in Belgium.
Since biosensors are one of the essential requirements for detecting diabetes, increase in the prevalence of diabetes is anticipated to positively impact the market growth. Furthermore, the recent outbreak of COVID-19 has also positively impacted the biosensors market to a great extent, as it has led to the introduction of several technologically advanced products for detection and monitoring of COVID-19 patients.
For instance, European photonics scientists are manufacturing an ultrasensitive laser sensor to detect COVID-19 at the initial stage of infection from nasal or saliva swab within minutes. Therefore, such initiatives are expected to propel the market growth over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Belgium biosensors market , including forecasts for subscribers. This country databook contains high-level insights into Belgium biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Belgium biosensors market size, by technology, 2018-2030 (US$M)
Belgium Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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