Glucose Biosensor Market Size, Share, Trends, Growth 2030

Glucose Biosensor Industry Prospect:

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 CAGR of roughly 8.10% during the forecast period.

The report analyzes the global glucose biosensor market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the glucose biosensor market.

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Glucose Biosensor Market: Overview

Glucose biosensors are extensively used to supervise and test the concentration of glucose in the blood of the patient. This makes glucose biosensors an integral part of diabetes management as diabetes is linked to an increase in the blood sugar level over a prolonged period of time.

Thus, it is of paramount importance that glucose biosensor is accurate and reliable in monitoring patients’ blood glucose concentration. Furthermore, an increase in the application of self-monitoring devices has significantly expanded the use of biosensors among diabetic patients. These are widely available even in home-care and outpatient scenarios as minimally invasive devices that monitor glucose levels in individuals.

Key Insights

• As per the analysis shared by our research analyst, the global glucose biosensor market is expected to grow annually at a promising CAGR of around 8.10% during the forecast period 2022-2030.
• In terms of revenue, the global glucose biosensor market size was valued at around USD 10.30 Billion in 2021 and is projected reach a value of USD 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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Glucose Biosensor Market: Drivers

Increase in the adoption of self-monitoring devices drive market growth

There has been a remarkable surge in the number of people suffering from diabetes resulting in increased expenditure toward regular check-ups, medications, and investment in accurate and effective sugar level monitoring devices. In addition, a surge in the geriatric population across the globe and the hereditary nature of diabetes is further expected to drive the growth of the glucose biosensor industry.

Besides, an increase in the adoption of BGM (Blood Glucose Monitoring) and CGM (Continuous Glucose Monitoring) devices among patients for constructive glucose management bolster the growth of the glucose biosensor industry. Although both devices aim to provide users with superior management of glucose levels in patients, CGM is more extensively used as these devices tend to collect large amounts of data continuously due to the presence of elevated measurement frequency.

Furthermore, apart from offering real-time glucose levels, CGM systems also tend to monitor the current rate of glucose change depending on the previous glucose data. These remarkable perks of self-monitoring devices and the exponential surge in diabetic patients significantly augment the growth of the global glucose biosensor market.

Glucose Biosensor Market: Restraints

High cost of glucose biosensor devices restrict market growth

Glucose biosensor devices are quite expensive than their other alternatives, which might considerably result in decreased demand among diabetic patients. Besides, the prevalence of innovative glucose monitoring techniques also eliminates the need for needle prick, which might be more feasible for patients. For instance, transdermal Reverse Iontophoresis (RI) is gaining immense traction to track glucose levels in the blood of patients as it is a needle-free technology that is capable of extracting medications and biomolecules through the undamaged skin. Thus, the presence of such convenient and precise measurement devices and processes hinders the growth of the glucose biosensor market during the forecast period.

Glucose Biosensor Market: Opportunities

Persistent technological advancements in glucose biosensors and the growth of telemedicine for diabetic management create ample opportunities for the market

Rapid technological advancements in healthcare are predicted to ramp up the demand for innovative and effective methods of diagnosis. The gold standard method is also increasingly used in the diagnosis and management of diabetes among patients as a considerable blood glucose detection.

Several researchers are devising breakthrough techniques to assess glucose in other forms of bodily fluids where glucose is available in different concentrations. For instance, researchers from Penn State University pioneered an innovative technique where instead of assessing glucose from blood sweat was used, eliminating the tedious and painful needle prick.   

A remarkable development in minimally or non-invasive devices for tracking and measuring glucose levels in home-care and outpatient settings is also gaining massive prevalence, especially post the pandemic era, which might create ample opportunities for the growth of the global glucose biosensor market.

Glucose Biosensor Market: Challenges

Prevalence of stringent regulatory policies from government might act as a challenge to market growth

Various regulators across the globe have incessantly imposed strict policies in the healthcare sector that has adversely curtailed the total number of product approvals, which in turn might act as a challenge and negatively impact the growth of the glucose biosensor industry during the forecast period. Several agencies have mandated necessary performance criteria, operating procedures, guidelines, and standards for the manufacturing and use of glucose biosensor devices. This is done to ensure maximum safety and minimize potential risks when it comes to the applications of these devices by the patients.

Glucose Biosensor Market: Segmentation

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 major reason for the growth of this segment is that electrochemical biosensors are seamless, user-friendly, portable, and much more cost-effective than the other alternatives. This is because it is based on an enzymatic catalytic reaction that is capable of producing or consuming electrons.

Electrochemical glucose biosensors are widely used among patients as it has favored the gradual transition towards convenient, one-step blood glucose testing which makes it considerably ideal for home or outpatient glucose settings. These types of sensors provide a good deal of robustness and offer extensive detection limits even with minute analyte concentrations.

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 major reason for the growth of this segment is that there has been an increase in investment in healthcare in hospitals, resulting in enhanced infrastructure and facilities. The Food and Drug Administration during the prevalence of COVID-19 approved and eased the application of home-use blood glucose meters in hospitals due to the convenient use and rapid results offered by these devices. They were essentially capable of enhancing patient care and workflow in hospitals. Thus, there was an increased demand among patients for seamless, painless, and less time-consuming tests that are anticipated to bolster the growth of the glucose biosensors market in hospitals.

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.

Glucose Biosensor Market Report Scope:

Glucose Biosensor Market: Regional Analysis

North American Region is expected to dominate the market during the forecast period

Based on region, the North American region held the largest global glucose biosensor 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 growth of the market in this region is mainly due to the increase in the cases of diabetes among people in this region.

According to the report published by International Diabetes Federation, in 2021, about 32.2 million people suffered from diabetes in the US alone, and the number is further predicted to surge exponentially to 36.2 million by the year 2030. Thus, a significant surge in the geriatric population, an increase in the consumption of sugar, and the prevalence of a sedentary lifestyle among people living in this region drive the growth of the market.

In addition, the availability of advanced healthcare infrastructure, the growing popularity of home & remote monitoring and telemedicine, and persistent technological advancements in the region further bolster the growth of the glucose biosensor market in the region during the forecast period.

Glucose Biosensor Market: Competitive Analysis

The glucose biosensor 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