GLOBAL GLUCOSE BIOSENSOR MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global glucose biosensor market is poised to grow at a significant rate over the forecast period. A glucose biosensor is an analytical device used for the detection of glucose concentration in biological samples. It incorporates a bio-recognition element like glucose oxidase enzyme or glucose-binding protein. The bio-recognition element is immobilized on a physicochemical transducer that transforms the biological event into a quantifiable analytical signal. Increased prevalence of diabetes and stringent regulatory protocols related to self-monitoring and homecare are the key factors driving the growth of this market. Technological advancements in developing minimally invasive, low-cost, accurate, and user-friendly biosensor have accelerated their adoption in point-of-care and home-use applications.

Market Dynamics:

The growth of the global glucose biosensor market is driven by rising geriatric population and increasing incidence of diabetes across the world. As per the International Diabetes Federation, around 463 million adults (20-79 years) were living with diabetes in 2019 and the number is projected to increase to 700 million by 2045. This has significantly increased the demand for self-monitoring of blood glucose. Moreover, favorable reimbursement policies and government initiatives to promote self-monitoring are providing impetus to the market growth. However, stringent regulatory approvals and high costs associated with biosensor are expected to hinder the market expansion to some extent during the forecast period. On the positive side, ongoing R&D to develop wearable, non-invasive, and smartphone integrated biosensor opens new avenues.

Key Features of the Study:

• This report provides an in-depth analysis of the global glucose biosensor market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global glucose biosensor market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Abbott Laboratories, Dexcom, Ascenia Diabetes Care, Nova Diabetes Care, F. Hoffmann-La Roche Ltd., Sanofi, GlySens Incorporated, Trividia Health, Bayer, and Lifescan.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global glucose biosensor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global glucose biosensor market.

Detailed Segmentation:

• Global Glucose Biosensor Market, By Technology
  • Enzymatic Biosensor
  • Non-Enzymatic Biosensor
• Global Glucose Biosensor Market, By Application
  • Home Diagnostics
  • Hospitals and Clinics
  • Research and Development
• Global Glucose Biosensor Market, By End Use
  • Hospitals
  • Homecare
  • Diagnostic centers
• Global Glucose Biosensor Market, By Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
• Top Companies in the Global Glucose Biosensor Market:
  • Abbott Laboratories 
  • Dexcom
  • Ascenia Diabetes Care
  • Nova Diabetes Care
  • Hoffmann-La Roche Ltd.
  • Sanofi
  • GlySens Incorporated
  • Trividia Health
  • Bayer
  • Lifescan