Non-invasive Biosensors Market will generate new growth opportunities 2021-2028 | Nemaura Medical, Inc., MediWise Ltd., Integrity Applications Inc., OrSense

Global Non-Invasive Biosensors Market, by Technology, (Optical, Transdermal, Thermal, and Others), by Product Type (Glucose Monitoring, Blood Analytes Monitor, and Others), by End User (Hospitals, Diagnostic Lab, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2.7 Bn in 2017 and is projected to exhibit a CAGR of 12.1% over the forecast period (2018–2026).

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The market for non-invasive biosensors is predicted to rise due to increasing approval for novel non-invasive biosensors. Integrity Applications Inc., for example, got CE certification for their new GlucoTrack DF-F gadget, a non-invasive blood glucose monitoring device, in 2013. Integrity Applications Inc. gained CE clearance for its updated version of the GlucoTrack DF-F gadget once again in 2015. The procedure duration has been lowered from two and a half hours to just thirty minutes thanks to the new upgraded version of the GlucoTrack DF-F instrument. In 2016, CNOGA Medical Ltd. received Brazilian National Health Surveillance Agency (ANVISA – Agência Nacional de Vigilância Sanitária) approval to market its new TensorTip COG non-invasive combo Glucometer device in Brazil.
Increased R&D initiatives by key companies in order to secure clearance for novel non-invasive biosensors, as well as the availability of products in the pipeline, are projected to propel the market forward. Consider the year 2017. Mclean Hospital revealed that their LabPatch-alcohol, a non-invasive skin patch for detecting blood alcohol levels, is under clinical development. LabPatch-alcohol is now in Phase 1 of clinical trials. Key market participants are focusing on strategic alliances for global dissemination of their revolutionary non-invasive biosensors. Integrity Applications Inc., for example, formed a strategic distribution collaboration with MediReva B.V. in 2017. MediReva B.V. will market Integrity Applications Inc.'s GlucoTrack in the Netherlands, according to the agreement.

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Key Takeaways of the global non-invasive biosensors market:
• The global non-invasive biosensors market is expected to exhibit a CAGR of 12.1% over the forecast period (2018–2026), owing to increasing approval of novel non-invasive biosensors in key regions. For instance, 2013, GlucoTrack DF-F received CE marking.

• Europe is expected to witness significant growth over the forecast period. This is due to increasing approvals of novel non-invasive biosensors by European Union. For instance, in 2015, an improved version of GlucoTrack DF-F received CE marking.

• Asia Pacific is also expected to exhibit growth in the global non-invasive biosensor market, owing to rising prevalence of diabetes in the region, which is expected to lead to high demand for novel diagnosis methods such as non-invasive glucometers. For instance, according to the Indian Diabetes Research Foundation, 2016, around 60% of the world’s population suffering from diabetes lives in Asia, with around one-half in China and India combined. The Foundation also states that Western Pacific reported over 138.2 million people suffering from diabetes in 2016, and the number for which is expected to rise to 201.8 million by 2035.

• Major 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.

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