The global glucose biosensors market size was valued at USD 10,206.3 million in 2021 and is anticipated to expand at a CAGR of 7.9% during the forecast period. The rise in the adoption of non-invasive and small-sized glucose monitoring systems coupled with the increasing incidence of diabetes globally is expected to boost the market growth. According to the International Diabetes Federation in 2021, there were about 537 million people diagnosed with diabetes, which is expected to reach 643 million by 2030 and 783 million by 2045. In addition, increasing patient awareness, and early diabetes detection is expected to contribute to the market growth. Diabetic patients consistently need to monitor their blood glucose levels to avoid complications.
Glucose biosensors are used to monitor a patient's blood glucose concentration and are an essential part of diabetes management. As a result, a glucose biosensor that is accurate, sensitive, and reliable is essential. Furthermore, the growing demand for self-monitoring devices has augmented the use of biosensors among diabetic patients. These are now available as small and minimally invasive devices that measure glucose levels even in outpatient settings and home care.
The gold standard method for diabetes diagnosis and management is still blood glucose detection. Apart from blood, saliva, urine, sweat, interstitial fluids, and tears, there are other bodily fluids in which glucose is present in various concentrations. For instance, in October 2021, Penn State University researchers invented a novel technique that can assess glucose in sweat rather than blood, removing the need for a needle prick.
Technological advancements are expected to play an integral role in boosting usage rates. This is evident from the development of minimal and non-invasive glucose biosensors in the market. Several companies, including small and major players, conduct extensive R&D activities to develop less painful, cost-effective, more accurate, and reliable products. For instance, in September 2020, Abbott launched the Libre Sense Glucose Sport Biosensor, a glucose sport biosensor that is designed to help athletes better understand the relationship between their glucose levels and athletic performance.
The COVID-19 pandemic has provided untapped opportunities for glucose biosensors to gain ground in the diabetic care sector. Consumers are more aware of the benefits of blood glucose monitoring devices, as there was a focus on the usage of virtual clinics and telemedicine for diabetic management during the pandemic. The glucose biosensors assisted patients and healthcare providers in improving glycemic control and possibly increasing patient self-management, resulting in a dramatic shift in diabetes care. However, the economic setback experienced by patients.
The electrochemical biosensor segment accounted for the largest market revenue share of more than 55.9% in 2021 and is expected to continue its dominance during the forecast period, owing to its sensitivity, reproducibility, and ease of maintenance. The electrochemical biosensor is based on an enzymatic catalytic reaction that either consumes or produces electrons. Electrochemical glucose biosensors have helped in the transition of simple, one-step blood glucose testing and also meet the requirements for personal (home) blood glucose testing.
The optical biosensor segment is estimated to witness a CAGR of 6.9% during the forecast period. Optical glucose biosensors uses fiber optics to detect analyses using absorption, illumination, light scattering, or refraction principles, including fluorescence, absorptiometry, and surface plasmon resonance (SPR). In comparison to traditional test methods, optical biosensors provide a number of advantages, such as remote sensing, electrical interference-free operation, and a quick reaction time. However, these sensors have a number of drawbacks, such as interference from the light sources, the need for high-energy light sources, and the inability to detect motion.
The hospital segment held the largest revenue share of more than 50% in 2021 due to the improving infrastructure and increasing healthcare expenditure in hospitals. During the COVID-19 pandemic, the FDA approved the use of home-use blood glucose meters in hospitals. The simple and quick results of these devices have drastically improved the workflow and patient care in hospitals. As a result, factors like patients' demand for simple, stress-free, and time-saving tests are projected to drive the market for glucose biosensors in hospitals.
The home care segment is expected to register the fastest growth rate during the forecast period, owing to the availability of qualified nurses and the rising preference for home care in both developing and developed countries. Furthermore, advanced technologies have made it possible to monitor glucose levels outside of a clinical setting with quick results, allowing patients to assess the impact of their treatment, such as nutrition, insulin, exercise, and stress management, based on the reading.
North America dominated the market in 2021 with market revenue share of a 30.1% share owing to the growing burden of diabetes in the region. According to the International Diabetes Federation, in 2021, there were about 32.2 million patients suffering from diabetes in the U.S., and this number is expected to increase to 36.2 million by 2030. In addition, the increasing geriatric population, the growing burden of diabetes due to lifestyle changes, increasing preference for home & remote monitoring, and technological advancements in the region are also expected to drive the market growth in the region.
Asia-Pacific is projected to witness rapid growth in the forecast period. Improvements in healthcare facilities and reimbursement policies are key drivers for market growth. Moreover, rising income levels, easy availability of advanced glucose biosensors from numerous manufacturers, and growing awareness among the population about early diagnoses to improve patient survival rate is expected to spur the market in the Asia Pacific.
The major players are working to improve their product offerings by upgrading their products, taking advantage of important cooperation activities, and exploring acquisitions and government clearances in order to expand their customer base and gain a larger share of the overall market. For instance, in May 2020, Medtronic announced that the Android version of its Guardian Connect CGM system has been approved by the U.S. FDA. The Guardian Connect system is a standalone CGM device that notifies patients up to 60 minutes in advance of anticipated high or low sensor glucose events.
Some prominent players operating in the glucose biosensors market include:
Abbott Laboratories
Dexcom
Ascenia Diabetes Care
Nova Diabetes Care
F. Hoffmann-La Roche Ltd.
Sanofi
GlySens Incorporated
Trividia Health
Bayer
Lifescan
Report Attribute |
Details |
Market size value in 2022 |
USD 10.9 billion |
Revenue forecast in 2030 |
USD 20.1 billion |
Growth Rate |
CAGR of 7.9% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2017 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Type, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S., Canada; UK; Germany; France; Italy; Spain; China; Japan; India; Australia; Thailand; Brazil; Mexico; Argentina; Chile; Saudi Arabia; South Africa; UAE |
Key companies profiled |
Abbott Laboratories; Dexcom; Ascenia Diabetes Care; Nova Diabetes Care; F. Hoffmann-La Roche Ltd.; Sanofi; GlySens Incorporated; Trividia Health; Bayer; Lifescan |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global glucose biosensors market report based on type, end-use, and region:
Type Outlook (Revenue, USD Million, 2017 - 2030)
Electrochemical biosensor
Optical biosensor
Others
End-use Outlook (Revenue, USD Million, 2017 - 2030)
Hospitals
Homecare
Diagnostic centers
Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
Thailand
Latin America
Brazil
Mexico
Argentina
Chile
Middle East and Africa
South Africa
Saudi Arabia
UAE
b. The global glucose biosensors market size was estimated at USD 10,206.3 million in 2021 and is expected to reach USD 10.9 billion in 2022.
b. The global glucose biosensors market is expected to grow at a compound annual growth rate of 7.9% from 2021 to 2030 to reach USD 20.1 billion by 2030.
b. North America dominated the glucose biosensors market with a share of 30.1% in 2021. This is attributable to the growing burden of diabetes and the rising geriatric population.
b. Some key players operating in the glucose biosensors market include Abbott Laboratories; Dexcom; Ascenia Diabetes Care; Nova Diabetes Care; F. Hoffmann-La Roche Ltd.; Sanofi; GlySens Incorporated; Trividia Health; Bayer, Lifescan.
b. Key factors that are driving the glucose biosensors market growth include increasing incidence of diabetes and raising awareness about diabetes preventive care.
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The most common concern for the governments of all COVID-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for COVID-19 as a key market contributor.