Market Size in 2021 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 10.30 Billion | USD 20.12 Billion | 8.10% | 2021 |
FrequentlyAsked Questions
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 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.
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.
The global glucose medicine market is expected to grow exponentially at a promising CAGR of 8.1% during the forecast period.
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.
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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