Demand for Glucose Biosensors is Expected to Surge at a CAGR of 12.6% by 2033

The global glucose biosensors market stands at US$ 14.09 billion in 2023 and is expected to increase at a CAGR of 12.6% from 2023 to 2033 with a valuation of US$ 46.16 billion by the end of the forecast period.

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A glucose biosensor device is a vital tool to manage & monitor blood sugar levels in diabetic patients. Several blood glucose monitoring devices are being produced to maintain normal blood sugar levels in the human body.

Key Takeaways of Glucose Biosensors Market

• Increasing Prevalence of Diabetes: The rising prevalence of diabetes worldwide is a key driver of the glucose biosensors market. Glucose biosensors are vital tools in the management of diabetes as they allow individuals to monitor their blood glucose levels regularly and make informed decisions about their diet, medication, and lifestyle. The growing diabetic population, coupled with the need for continuous glucose monitoring, has led to a significant demand for glucose biosensors.

• Technological Advancements: Advances in technology have played a significant role in the development of glucose biosensors. Manufacturers are constantly innovating to create smaller, more accurate, and user-friendly devices. The integration of biosensors with wireless connectivity and smartphone applications has made glucose monitoring more convenient and accessible.
Additionally, the introduction of non-invasive and minimally invasive glucose biosensors has further expanded the market, offering alternatives to traditional fingerstick blood glucose monitoring.

• Growing Emphasis on Point-of-Care Testing: Point-of-care testing has gained prominence in healthcare, and glucose biosensors play a crucial role in this regard. Glucose biosensors offer rapid and real-time results, enabling healthcare professionals to make immediate decisions and provide timely interventions. The convenience and portability of glucose biosensors make them ideal for point-of-care testing settings, such as clinics, hospitals, and home healthcare.

• Rising Awareness of Early Disease Detection: Glucose biosensors not only help in diabetes management but also find applications in early disease detection. Continuous glucose monitoring using biosensors can provide insights into the body's metabolic health and detect potential abnormalities at an early stage. This proactive approach to healthcare has gained traction, driving the demand for glucose biosensors in preventive and personalized medicine.

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Competitive Landscape

Key players in the glucose biosensors market are introducing advanced sensors to increase their market dominance and earn more profits. Leading companies are also increasing their sales through regional expansion, improvements in local supply chain management systems, new developments in product standards, partnerships with local market players, and more.

• The Android version of Medtronic's Guardian Connect continuous glucose monitoring system received FDA approval in May 2020. The Guardian Connect system is a stand-alone CGM device that alerts users of impending low or high sensor glucose occurrences with customizable predictive alerts.

• Abbott introduced the Libre Sense Glucose Sport Biosensor in September 2020. This glucose sport biosensor is intended to assist athletes in better understanding the connection between their blood glucose levels and athletic performance.

Key Companies Profiled:

• Abbott Laboratories
• ACON Laboratories, Inc.
• AgaMatrix Inc.
• Bayer
• Biacore
• BioSense Medical Devices, LLC
• Biosensors International Pte. Ltd.
• LifeScan, Inc.
• LifeSensors, Inc.
• Medtronic, Inc.
• Nova Biomedical
• Pharmaco-Kinesis Corporation

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Key Segments of Glucose Biosensors Market Research

• By Product :

o Continuous Glucose Monitoring
o Self-monitoring Blood Glucose
o Non-invasive Glucose Monitoring

• By Technology :

o Electrochemical Biosensors
o Optical Biosensors

• By End User :

o Hospitals
o Home Care
o Diagnostic Centres
o Clinics

Key Questions Covered in the Glucose Biosensors Market Report:

• What is the projected value of the Glucose Biosensors factors Industry in 2022?
• At what rate will the global Glucose Biosensors factors market size grow until 2032?
• Which are the factors hampering the growth of Glucose Biosensors factors?
• Which region is expected to lead in the global Glucose Biosensors factors market by 2032?
• Which are the factors driving the Glucose Biosensors factors Industry during the forecast period?
• What is the expected market value of the Glucose Biosensors factors market during the forecast period?

Regional Analysis for Glucose Biosensors Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.