Biosensor Market Size

Biosensors Market size was valued at USD 31.41 billion in 2024 and is expected to exceed USD 83.39 billion by the end of 2037, registering over 7.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of biosensors is evaluated at USD 33.37 billion.

The reason behind the growth is impelled by the increasing wearable technology industry across the globe. For instance, the growth of 5G technology is expected to enhance the wearable market, which will reach over 450 million units shipped in 2022. Moreover, the number of wearable devices that are connected worldwide grew significantly from around 928 million to over 1 billion in 2022.

The growing advancements in biosensor technology are believed to fuel the market growth. For instance, a biosensor combined with an IGZO-FET-based machine-learning method was recently proposed to identify BC in clinical urine samples and to create a portable device for POC applications.