The global biosensors market was valued at $14,169.5 million in 2015, and it is expected to grow at a CAGR of 9.8% during 2016-2022. Based on application, the environment segment is expected to witness the fastest growth, CAGR of 11.5%, during the forecast period.

The global biosensors market is growing at a significant rate, due to increasing prevalence of diabetes and growing geriatric population. The increasing prevalence of chronic and lifestyle associated diseases, increasing demand for point of care testing and increasing application of biosensors in various industries are also driving the growth of the global biosensors market. However, factors such as strict regulatory requirement and reimbursement policy issues in healthcare systems are inhibiting the growth of the global market.

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