Global Glucose Biosensor Market is Expected to Reach A Value Of $20.12 Bn By 2030

The global glucose biosensor market size was worth around USD 10.30 Billion in 2021 and is expected to reach a value of USD 20.12 billion by 2030 with a compound annual growth rate of CAGR of roughly 8.10% during the forecast period from 2022 to 2030.

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.

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.

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.

Based on region, the North American region held the largest market share in 2021, holding about 30.3% of the market share, and is further anticipated to grow at a significant CAGR during the forecast period. The main reason for the growth of the glucose biosensor market in this region is a surge in the geriatric population, rise in the costs of healthcare services, availability of advanced healthcare infrastructure, rise in disposable income, presence of a large number of hospitals, and prevalence of eminent players in this region. The Asia-Pacific region, on the other hand, is also predicted to cite a significant CAGR during the forecast period.

The key reasons for the growth of the market in this region include a rise in income levels, changes in lifestyle, growing preference towards home & remote monitoring, and rise in awareness toward early diagnosis, and convenient availability of advanced glucose biosensors.

This review is based on a report by Zion Market Research, 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 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/glucose-biosensor-market

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.

The global glucose biosensors market is dominated by players such as:

• 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.

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

 By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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