New York, NY, March 06, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Glucose Biosensor Market By Technology (Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, And Others), By End-Use (Hospitals, Home Care, Research Institutes, Diagnostic Centers, And Clinics), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2021 – 2030” in its research database.
“According to the latest research study, the demand of global Glucose Biosensor Market size & share in terms of revenue was valued at USD 10.30 Billion in 2021 and it is expected to surpass around USD 20.12 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.10% during the forecast period 2022 to 2030.”
What is Glucose Biosensor? How big is the Glucose Biosensor Industry?
Glucose Biosensor Report Coverage & Overview:
Diabetes is one of the most prevalent chronic health conditions that affect people across the globe. Glucose biosensors happen to be crucial in the process of insulin delivery to effectively manage diabetes as they are used to track the blood glucose levels of patients, and thus it is a paramount part of diabetes management. The system is known to provide rapid and precise results. Adverse fluctuations in the glucose concentrations among patients were evaluated appropriately, which could essentially become critical to devise necessary therapeutic inventions. Most sensors made effective use of amperometric enzyme electrodes for constructively monitoring changes in the glucose level in individuals.
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Global Glucose Biosensor Market: Growth Dynamics
The demand for the global glucose biosensor market is expected to surge exponentially due to an increase in the cases of diabetes among people across the globe. This subsequently results in increased expenditure toward regular check-ups, medications, and investment in accurate & effective sugar level monitoring devices among patients. Besides, a surge in the geriatric population, the adoption of a sedentary lifestyle among people, and the hereditary nature of diabetes are further predicted to drive the growth of the global glucose biosensor industry.
In addition, the growth of telemedicine, the introduction and adoption of innovative methods of monitoring blood glucose concentrations in patients, and the rise in healthcare expenditures in developed countries create ample opportunities for the growth of the market. Furthermore, persistent technological advancements in healthcare, the presence of advanced healthcare infrastructure, and the development of seamless & painless glucose monitoring devices even in home care and outpatient settings create remunerative opportunities for the growth of the global market.
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Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 10.30 billion |
| Projected Market Size in 2030 | USD 20.12 billion |
| CAGR Growth Rate | 8.10% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | F. Hoffmann-La Roche Ltd., Trividia Health, Inc., Abbott, Dexcom Inc., Medtronic, LifeScan IP Holdings, LLC., and Senseonics, Sanofi, Bayer AG, GlySens Incorporated, and Pinnacle Technologies, Inc. among other global players |
| Key Segment | By Technology, By End-Use, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Glucose Biosensor Market: Segmentation Analysis
The global glucose biosensor market is segmented based on technology, end-use, and region.
Based on technology, the market is bifurcated into electrochemical biosensors, optical biosensors, piezoelectric biosensors, and others. The electrochemical biosensors segment held the largest market share in 2021, holding more than 56.1% of the market share, and is further predicted to occupy a dominant status during the forecast period. The growth of this segment is mainly attributed to the increased sensitivity and reproducibility of electrochemical biosensors. This is mainly because it is based on an enzymatic catalytic reaction that favors electron production or consumption. In addition, electrochemical biosensors are seamless, user-friendly, portable, and much more cost-effective than the other alternatives. These factors drive the growth of the segment during the forecast period.
Based on end-use, the market is bifurcated into hospitals, home care, research institutes, diagnostic centers, and clinics. The hospital segment held the dominating market share in 2021, holding more than 51% of the market share, and is further predicted to grow exponentially at a promising CAGR during the forecast period.
The growth of this segment is mainly due to the increased healthcare investment, significant improvement in infrastructure, and rise in the costs of healthcare services in developed countries. The swift and seamless results of these devices have appreciably ramped up patient care and overall workflow in hospitals. Thus, a surge in demand for seamless, stress-free, and less time-consuming tests is anticipated to bolster the market for glucose biosensors in hospitals.
The global Glucose Biosensor market is segmented as follows:
By Technology
- Electrochemical Biosensors
- Optical Biosensors
- Piezoelectric biosensors
- Others
By End-Use
- Hospitals
- Home Care
- Research Institutes
- Diagnostic Centers,
- Clinics
Browse the full “Glucose Biosensor Market By Technology (Electrochemical Biosensors, Optical Biosensors, Piezoelectric Biosensors, And Others), By End-Use (Hospitals, Home Care, Research Institutes, Diagnostic Centers, And Clinics), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2021 – 2030” Report at https://www.zionmarketresearch.com/report/glucose-biosensor-market
Competitive Landscape
Some of the main competitors dominating the global Glucose Biosensor market include -
- F. Hoffmann-La Roche Ltd.
- Trividia Health Inc.
- Abbott
- Dexcom Inc.
- Medtronic
- LifeScan IP Holdings LLC.
- Senseonics
- Sanofi
- Bayer AG
- GlySens Incorporated
- Pinnacle Technologies Inc
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Glucose Biosensor market is likely to expand at a CAGR of around 8.10% during the forecast period (2022-2030).
- In terms of revenue, the Glucose Biosensor market size was valued at around US$ 10.30 Billion in 2021 and is projected to reach US$ 20.12 billion by 2030.
- Diabetes is a metabolic disease that causes an increased level of sugar concentration in the blood, and hence diabetic patients are required to repeatedly check their blood glucose levels so as to restrict further complications. A glucose biosensor is one such device that effectively tracks a patient’s glucose levels and other complications of blood pressure.
- Based on technology, the electrochemical biosensors segment held the largest market share in 2021, holding about 56.1% of the market share.
- Based on end-use, the hospital segment held the dominating market share in 2021, holding more than 51% of the market share.
- Based on region, the North American region held the largest market share in 2021, holding about 30.3% of the market share.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Glucose Biosensor industry?
- What are the main driving factors propelling the Glucose Biosensor Market forward?
- What are the leading companies in the Glucose Biosensor Industry?
- What segments does the Glucose Biosensor Market cover?
- How can I receive a free copy of the Glucose Biosensor Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Technology, By End-Use, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
In terms of geographic location, the North American region dominated the global glucose biosensor market in 2021, accounting for approximately 30.3% of the total market share. This region is also anticipated to expand at a significant compound annual growth rate over the course of the forecast period. The rise in the prevalence of diabetes among people living in this region is the primary factor driving the expansion of the market in this region.
According to a report that was published by the International Diabetes Federation in 2021, there were approximately 32.2 million people in the United States who suffered from diabetes. It is anticipated that this number will continue to rise at an alarming rate and reach 36.2 million by the year 2030. Thus, the expansion of the market is being driven by a sizeable rise in the elderly population, a rise in the use of sugar, and the prevalence of a sedentary lifestyle among individuals who live in this region.
In addition, the presence of advanced healthcare infrastructure, the expanding use of home and remote monitoring as well as telemedicine, and ongoing technological advancements in the region all contribute to the growth of the glucose biosensor market in the region over the course of the forecast period.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
In April 2022, a Hungary-based dominant medical equipment manufacturer called 77 Elektronika Kft announced the launch of its new GlucoMen Day continuous glucose monitor (CGM) system in collaboration with A. Menarini Diagnostics, an Italy-based company. 77 Electronika mentions that their new system delivers real-time glucose monitoring with the help of a sensor that is capable of taking measurements each minute, throughout the day. The system is highly reliable as it is compatible with a mobile application, enabling necessary data to be shared with the respective doctor of the patient. Thus, remarkable insights into day-to-day activities such as food consumption, working out, and the effect of certain medications on the metabolism of an individual can be efficiently tracked.
In February 2021, Roche Diabetes Care announced the launch of its new connected blood glucose monitoring (BGM) system called Accu-Chek Instant system that will assist the company’s integrated Personalised Diabetes Management (iPDM), which is a therapeutic approach towards patients in providing personalized and streamlined diabetes management. Accu-Chek Instant is equipped with Bluetooth connectivity alongside the mySugr app. This facilitates the seamless wireless transfer of information regarding the blood sugar levels of patients to the mySugr app. In addition, this app provides remarkable insights into the patient’s diabetes data along with creative diabetes management attributes such as the mySugr insulin calculator. Data from the mySugr mobile app can also seamlessly be shared with healthcare professionals via the RocheDiabetes Care Platform (RDCP), in near real-time.
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FREQUENTLY ASKED QUESTIONS
- What is Glucose Biosensor?
Diabetes is one of the most prevalent chronic health conditions that affect people across the globe. Glucose biosensors happen to be crucial in the process of insulin delivery to effectively manage diabetes as they are used to track the blood glucose levels of patients, and thus it is a paramount part of diabetes management. The system is known to provide rapid and precise results. Adverse fluctuations in the glucose concentrations among patients were evaluated appropriately, which could essentially become critical to devise necessary therapeutic inventions. Most sensors made effective use of amperometric enzyme electrodes for constructively monitoring changes in the glucose level in individuals.
- Which key factors will influence the glucose biosensor market growth over 2022-2030?
The major factors influencing the growth of the global glucose biosensor market include an increase in the number of patients suffering from diabetes across the globe, an increase in healthcare expenditure, the growth of telemedicine, and rapid technological advancements in healthcare drive the growth of the market during the forecast period.
- What will be the value of the glucose biosensor market during 2022-2030?
According to the report, the global glucose biosensor market was worth around USD 10.30 Billion in 2021 and is expected to reach a value of USD 20.12 billion by 2030 with.
- What will be the CAGR value of the global glucose medicine market during 2022-2030?
The global glucose medicine market is expected to grow exponentially at a promising CAGR of 8.1% during the forecast period.
- Which region will contribute notably towards the global glucose biosensor market value?
The global glucose biosensor market is expected to be driven by the North American region. This is mainly due to the high cost of healthcare services, the rise in the geriatric population, the prevalence of advanced healthcare infrastructure, the rise in disposable income, and the presence of eminent players in the market in this region.
- Which are the major players leveraging the global glucose biosensor market growth?
The global glucose biosensor market is being dominated by players such as F. Hoffmann-La Roche Ltd., Trividia Health, Inc., Abbott, Dexcom Inc., Medtronic, LifeScan IP Holdings, LLC., and Senseonics, Sanofi, Bayer AG, GlySens Incorporated, and Pinnacle Technologies, Inc. among other global players.
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