UK Biosensors Market Size & Outlook, 2022-2030
UK biosensors market, 2018-2030 (US$M)
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UK biosensors market highlights
- The UK biosensors market generated a revenue of USD 669.6 million in 2022 and is expected to reach USD 1,141.2 million by 2030.
- The UK market is expected to grow at a CAGR of 6.9% 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 669.6 million |
| Market revenue in 2030 | USD 1,141.2 million |
| Growth rate | 6.9% (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, UK accounted for 2.5% 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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UK 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 72.61% in 2022. Horizon Databook has segmented the UK 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 and rising number of government initiatives promoting introduction of technologically advanced product lines are among the key factors contributing to the growth of the UK biosensors market.
For instance, in April 2020, the UK launched Defense and Security Accelerator (DASA) competition, which is a wide-area biosensor competition. This competition is aimed at introducing innovative technologies for Phase 2 of a Wide-area Biosensor Program to locate and rapidly detect lethal biological agents in the field.
Therefore, these factors are anticipated to propel the market growth. However, low healthcare spending by the UK government may restrict many new and major players from entering the market. For instance, according to a report published by the Office for National Statistics UK, in 2018, government spending accounted for about 62.0% for certain long-term care and most of the expenditure comes from out-of-pocket payments. Thus, low healthcare expenditure may restrain 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 UK biosensors market , including forecasts for subscribers. This country databook contains high-level insights into UK biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK biosensors market size, by technology, 2018-2030 (US$M)
UK Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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