Glucose Biosensors Market Size, Share & Trends Analysis Report By Type (Electrochemical, Optical, Others), By End Use (Hospitals, Homecare, Diagnostic centers), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

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. 

Type Insights

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. 

End-use Insights

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.

Regional Insights

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. 

Key Companies & Market Share Insights

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

Glucose Biosensors Market Report Scope

Segments Covered in the Report 

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