The global glucose biosensors market was valued at USD 11.9 billion in 2021 and it is anticipated to grow up to USD 42.9 billion by 2031, at a CAGR of 13.7% during the forecast period.
New York, According to a new market research report published by Global Insight Services “Glucose Biosensors Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
A glucose biosensor is a device that uses an enzyme to catalyze the oxidation of glucose to generate a current, which is proportional to the concentration of glucose in the sample. The enzyme used in most glucose biosensors is glucose oxidase (GOx), which oxidizes glucose to gluconic acid and hydrogen peroxide. The hydrogen peroxide is then reduced to water by a catalyst, usually platinum, and the current generated is proportional to the concentration of glucose.
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Market Trends and Drivers
There has been a substantial rise in the number of people diagnosed with diabetes worldwide, which could propel glucose biosensors market statistics. According to the IDF (International Diabetes Federation), around 537 million people between the ages of 20 to 79 years were diagnosed as diabetics in 2021. Categorically, around 1.2 million patients, mainly adolescents and children, have type 1 diabetes whereas close to 541 million adults are at risk of getting type 2 diabetes. A socio-economic analysis by the World Health Organization (WHO) in 2021 showcased that diabetes is more prevalent in middle and low-income countries in comparison to high-income countries, which has increased the product demand.
Market Restraints and Challenges
Regulators have posed stringent policies that have limited the number of product approvals, which could negatively affect glucose biosensors business development. Agencies such as the United States Food and Drug Administration (U.S. FDA) have devised operating procedures, guidelines, performance criteria, and standards for the manufacturing and usage of glucose biosensors devices. This minimizes the risk associated with these devices and ensures adequate safety.
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Glucose Biosensors Market Segmentation
By Product
- CGM (Continuous Glucose Monitoring)
- SMBG (Self-Monitoring Blood Glucose)
By Technology
- Electrochemical Biosensors
- Optical Biosensors
Major Players in the Global Glucose Biosensors Market
The key players in the glucose biosensors market are Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.), Abbott, Lifescan, Inc., Universal Biosensors, Nova Biomedical, Med Trust, Taidoc Technology Corporation, Roche AG, and Dexcom, among others.
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Reasons to buy Glucose Biosensors Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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