Biosensor Market Share

North American Market Forecast

The Biosensors market in North America is predicted to account for the largest share of 40% by 2037 impelled by the growing food and beverage industry. The food and beverage market in the United States is expected to grow rapidly owing to a growing population, increased disposable incomes, shifting consumer preferences, and new product developments. For instance, between 2021 and 2026, the US food and beverage industry is predicted to have over 1% annual sales growth.

APAC Market Statistics

The Asia Pacific Biosensors market is estimated to be the second largest, during the forecast timeframe led by the growing health awareness. In recent years, there has been an increase in health awareness in India owing to their growing health consciousness and the rising incidence of lifestyle diseases, therefore, Indian consumers are becoming more willing to spend money on exercise programs and activities, natural food intake, health supplements, and specialized diets.

In addition, India, which is still developing quickly, is mostly responsible for the rise in alcohol consumption owing to factors such as rapid urbanization, increased affluence, easy availability, and shifting attitudes towards alcohol and lifestyle. This may lead to an increase in demand for Biosensor sand noninvasive monitoring of alcohol. It was projected that India's alcohol consumption would increase by over 6 billion liters in 2024.