Thermal Biosensor Market Expected to Reach $11.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Thermal Biosensor Market," The thermal biosensor market was valued at $5.1 billion in 2022, and is estimated to reach $11.4 billion by 2032, growing at a CAGR of 8.5% from 2023 to 2032.

Thermal biosensors reflect the changes in the temperature within the biological reaction medium. It refers to measuring the changes in the temperature of the circulating fluid following the reaction of a suitable substrate with the immobilized enzyme molecules. The devices used are referred to as enzyme thermistors.

Thermal biosensors have a wide array of applications, showcasing their adaptability and significance. In the healthcare sector, they are frequently employed in medical thermometers for gauging body temperature. For instance, amid the COVID-19 pandemic, thermal biosensors played a pivotal role in screening for fever at airports and healthcare facilities, aiding in the early identification of potential infections which provided a boost to thermal biosensor market growth. Another notable application lies in glucose monitoring systems for individuals with diabetes. In this context, thermal biosensors supply real-time information on blood glucose levels, empowering individuals to make informed choices regarding insulin dosages and dietary habits. In the sphere of environmental monitoring, these sensors are utilized to track fluctuations in temperature within ecosystems or industrial processes, contributing to researchers' comprehension and mitigation of temperature-induced effects on living organisms.

Moreover, thermal biosensors assume a critical role in the food industry. They are utilized to oversee and regulate the temperature of perishable goods during their transportation and storage. For example, in the cold chain logistics of vaccines, thermal biosensors ensure that vaccines remain within safe temperature ranges, safeguarding their effectiveness. In research laboratories, thermal biosensors are enlisted for a variety of applications, encompassing investigations into enzyme kinetics, protein-protein interactions, and DNA hybridization events. On the whole, the versatility and precision of thermal biosensors establish them as invaluable instruments across a broad spectrum of industries and scientific endeavors.

The increase in demand for food safety serves as a compelling force driving the growth of the thermal biosensor market. The necessity for reliable and swift methods of assessing food safety is important with a growing global population and intricate food supply chains. Thermal biosensors, renowned for their ability to detect contaminants, allergens, and pathogens in food products, provide a robust solution. These biosensors include food producers and regulatory bodies to quickly and accurately identify potential risks, ensuring that the food supply chain remains free from harmful substances and pathogens. Furthermore, the stringent food safety regulations and consumer awareness have placed added pressure on the food industry to maintain the highest standards using thermal detection biosensors. Thermal biosensors confer a competitive advantage by delivering real-time, label-free analysis, facilitating early detection of food safety issues, and enabling proactive measures to prevent tainted products from reaching consumers.

The Thermal biosensor market is analyzed by application, distribution channel, and region. On the basis of application, the market is bifurcated into point-of-care (POC), home diagnostics, research labs, food and beverages, environmental monitoring, and biodefense. In 2022, the above point-of-care (POC) segment dominated the market, and it is expected to acquire a major market share by 2032. On the basis of distribution channel, the thermal biosensor market analysis is bifurcated into online, and offline. In 2022, the above offline segment dominated the market, and the online segment is expected to acquire a major market share by 2032.

On the basis of region, the thermal biosensor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players profiled in the report include DowDupont Inc., LifeSignals, Nova Biomedical Corporation,  Masimo Corporation, Siemens, Fitbit (Google), Garmin, and TA Instruments. The key strategies adopted by the major players in the thermal biosensors market are product launch, new product development, collaboration, and upgradation in the thermal biosensor industry.

KEY FINDINGS OF THE STUDY

• The global thermal biosensor market size was valued at $5,058.0 million in 2022, and is projected to reach $11,442.4 million by 2032, registering a CAGR of 8.5% from 2023 to 2032.
• The point-of-care (poc) segment was the highest revenue contributor to the market, with $1,371.6 million in 2022.
• The offline segment was the highest revenue contributor to the thermal biosensor market share, with $3,283.3 million in 2022, and is estimated to reach $7,235.0 million by 2032, with a CAGR of 8.2%.
• North America was the highest revenue contributor, accounting for $2,090.0 million in 2022, and is estimated to reach $4,462.5 million by 2032, with a CAGR of 7.9%.
• Europe is estimated to reach $3,446.5 million by 2032, at a significant CAGR of 8.5%.