Non Invasive Diabetes Therapy Market Analysis
Non Invasive Diabetes Therapy Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
The role of non-invasive therapy for diabetes market has been on a positive growth path in healthcare industry since 2014. Though the non-invasive therapy concept was brought way back in 1980, the market has not gained much attention leading to development of fewer such devices. DexCom's seven system and Medtronic's Guardian real-time glucose monitoring system are two such products developed and marketed worldwide. The influx of non-invasive therapy has reinforced the diabetes market in various ways ranging from economical cost incurred to patient treatment outcomes.
Many leading players along with new entrants are venturing in the market to capitalize and generate high ROI. As a result, noninvasive therapy market is expected to witness double digit growth rate over the forecast period.
The report covers market analysis across regions – North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The World Health Organization projects diabetic population to reach 336 Mn by 2030 from 270 Mn in 2015. Increase in incidence rate of diabetic population will demand for non-invasive medication is expected to create favorable market opportunities for the players globally. Moreover, improving healthcare access along with focus on R&D could spur the overall non-invasive market size. Some companies are engaged in development of non-invasive system on photonic technology and occlusion spectroscopy technology.
The market will be further driven by changing macroeconomics and consumer preference. Healthcare expenditure has increased in developing regions. Large consumer base along with changing lifestyle is expected to create substantially new market opportunities for early entrants.
Among regions, North America is expected to dominate the market throughout the forecast period. Moreover, North America is expected to grow at a fastest rate owing to high spending on R&D and presence of leading companies in the region. Prevalence rate of diabetes is high compared to other regions.
As per the initial study carried out by CA, North America and Europe are expected to account for over 65% of overall functional non-invasive diabetes therapy market. Healthcare providers are seeking this technology to manage the growing demand for diabetes. Growth in these regions is expected to be further driven by macroeconomic factors. The region as a whole spends over 5% of its GDP on research and GDP. Moreover, healthcare spending is highest in this region with North America accounting for 16.7% and Europe 10% of overall GDP in 2015.
Asia Pacific is expected to be driven by China and India. According to International Diabetes Federation, over 490 million people in China are suffering from diabetes. Country is pushing toward healthcare reforms. Many companies are emerging in the region. As a result,
Some key players engaged in the market are Bio Tex, Calisto Medical, DexCom, Bayer, ACON Laboratories, B. Braun Melsungen, etc.
Continuous research and development activities are expected to drive growth of the non-invasive diabetes therapy market. For instance, in August 2019, a team of researchers tested the efficacy of a new hormone injection that could aid weight loss in obese patients with diabetes. This could potentially serve as a non-invasive alternative for gastric bypass surgery, which are commonly carried out to manage weight and improve blood sugar level in individuals with diabetes.
Moreover, key players in the market are focused on strategic collaborations and agreements to improve their market share. For instance, in July 2019, BioRestorative Therapies, Inc., announced that it had entered a securities purchase agreement with Arena Investors LP. BioRestorative Therapies, Inc. produces non-invasive therapeutics using cell and tissue protocols, and its ThermoStem program is focused on reducing obesity and risk of diabetes.
In July 2019, researchers from the University of Michigan announced an upcoming clinical trial that involves a new non-invasive, endoscopic weight-loss procedure, EndoBarrier developed by GI Dynamics® Inc. The clinical trial of EndoBarrier will include individuals with type 2 diabetes and obesity.