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Press Release: Non-Invasive Biosensors Market to Surpass US$ 7.5 Bn Threshold by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Non-Invasive Biosensor Market - Insights
Biosensors are electronic devices, which uses biological molecules such as enzymes, proteins, or antibodies for the detection and measurement of any substance or chemical. Non-invasive biomarkers are advanced diagnostic devices, which do not require incision or insertion of instruments/devices in the body. There is no contact with mucosa, or skin break, or internal body cavity for diagnosis. Non-invasive biosensor mainly uses tears, saliva, and sweat for the analysis and diagnosis of various diseases. There are few non-invasive biosensor devices available in market, however, a robust pipeline of novel non-biosensors is under development and under clinical trial. Key players in the market are focusing on research and development activities for development of novel non-invasive biosensors and to launch it in market.
Increasing approval for non-invasive biosensor devices is expected to drive growth of the global market
In 2016, Nemaura Medical, Inc. received CE approval in the European Union for its sugarBEAT, a minimally invasive wireless continuous glucose monitor. SugarBEAT CGM system is available in the form of sensor patch and provides glucose readings on a standalone reader, smart watch or smart phone app via Bluetooth. In March 2018, Nemaura Medical, Inc. expanded its manufacturing facilities for large scale production of its new SugarBEAT CGM system. The company is expected to launch its product in the U.K. in the near future. The approval and launche of such novel devices is expected to create a lucrative environment for growth of global non-invasive biosensor market in the near future.
The global non-invasive biosensor market was valued at US$ 2.7 Bn in 2017 and is expected to witness a CAGR of 12.1% over the forecast period (2018–2026).
Figure 1. Global Non-invasive Biosensor Market Size (US$ Bn), By Region, 2017
Increasing research and development and robust pipeline of novel non-invasive biosensors is expected to drive growth of the non-invasive biosensor market
Increasing research and development and a robust pipeline of novel non-invasive biosensors is expected to drive growth of the global non-invasive biosensor market in the near future. For instance, MediWise Ltd.—a U.K.-based company—has its product GlucoWise in clinical trial. GlucoWise is a non-invasive glucose monitor device and is expected to be launched in 2018. In 2017, researchers from University of Cincinnati developed a non-invasive biosensor, which uses chemical stimulant to produce sweat and uses sweat to monitor biometrics.
Increasing prevalence of diabetes is expected to increase demand for non-invasive biosensors for diagnosis
According to World Health Organization (WHO), 2014, around 8.5% of adults aged 18 and above accounting for 422 million adults were suffering from diabetes worldwide. According to National Diabetes Statistics Report 2017 published by Centers of Disease Control and Prevention (CDC), around 9.4% of the population in the U.S., which includes all age groups i.e., pediatric, adults, and geriatric population accounting for 30.3 million people are suffering from diabetes whereas 33.9% are diagnosed with pre-diabetes. Increasing prevalence of diabetes is expected to increase demand for novel diagnostic devices such as non-invasive glucometer and this is expected to drive growth of global non- invasive biosensor market.
Furthermore, key players in the market are participating in various conference and symposium, in order to showcase their novel non-invasive biosensors. For instance, in 2017, Integrity Applications Inc. exhibited its new GlucoTrack at American Diabetes Association’s 77th Scientific Sessions held at San Diego, U.S.
Key players operating in the non-invasive biosensors market include Nemaura Medical, Inc., MediWise Ltd., Integrity Applications Inc., OrSense, Medtronic Plc, GE Healthcare, Philips Healthcare, Akers Biosciences, Inc. and Abbott Laboratories.
Non-invasive biosensors are novel diagnosis devices, which do not require any invasive procedure for detection of any substance or disease. This technology uses sweat, tears, or saliva for diagnostic purpose. Glucose monitoring and blood analytes monitor have become available in the market, which uses non-invasive biosensors. Moreover, there are many non-invasive biosensors under development and under clinical trial for new applications such as cancer and blood alcohol concentration detection.
Market Dynamics
Increasing approval and launches of novel non-invasive biosensors is expected to boost growth of global non-invasive biosensors market in the near future. For instance, in 2016, Nemaura Medical, Inc. received CE approval in the European Union for its latest sugarBEAT, a minimally invasive wireless continuous glucose monitor. Moreover, in 2013, Integrity Applications Inc. received CE marking for its new GlucoTrack DF-F device, a non-invasive blood glucose monitoring device. Increasing research and development activities for developing novel non-invasive biosensors is also expected to drive growth of market in the near future. For instance, in 2017, Mclean Hospital announced that LabPatch-alcohol, its non-invasive skin patch that detects blood alcohol concentration, is in clinical trial. LabPatch-alcohol is in early Phase 1 stage of clinical trial. Furthermore, increasing prevalence of diabetes is also expected to increase demand for non-invasive biosensors for diagnosis. According to the World Health Organization (WHO), 2014, around 8.5% of adults aged 18 and above accounting for 422 million adults were suffering from diabetes worldwide.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 42 market data tables and 38 figures on “Non-Invasive Biosensors Market - Global forecast to 2026”.
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