GLOBAL GLUCOSE BIOSENSOR MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Glucose Biosensor Market Size and Trends

The global glucose biosensor market size is expected to reach US$ 21.3 Bn by 2031 from US$ 11.77 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 7.7% during the forecast period (2024-2031).

Global Glucose Biosensor Market - Trends

• Miniaturization of devices: The trend of miniaturization of devices is having a strong influence on the glucose biosensor market. As consumer electronic devices get smaller with each new generation, there is demand for medical devices to also minimize their size while retaining or improving functionality. Glucose biosensors, which are used by millions of diabetics worldwide to monitor their blood sugar levels, have greatly benefited from reduced dimensions. Miniaturized glucose sensors now come integrated into everyday accessories like wristwatches, providing discreet monitoring without the need for bulky test strips or lancets. This has improved patient convenience and compliance with regular testing routines.
• Use of nanotechnology for sensor development: The development and use of nanotechnology for sensor applications is significantly impacting the glucose biosensor market in a positive manner. Nanoscale materials such as graphene, gold nanoparticles, carbon nanotubes, etc. are being widely utilized by research institutions and sensor manufacturers to miniaturize existing glucose biosensors and enhance their functionality. These nano-materials allow for the development of novel sensor platforms that can more accurately detect glucose levels in biological samples. For example, graphene-based glucose biosensors have shown improved sensitivity and ability to detect lower glucose concentrations compared to traditional biosensors. This is because graphene has a large surface area which enables more enzyme immobilization and stronger electrochemical responses. Continuous research into graphene-glass composites, 3D graphene foams and functionalized graphene is helping improve biosensor performance for point-of-care diabetes testing. Similarly, gold nanoparticles are being used to amplify enzyme signal transduction in biosensors, thus enhancing detection sensitivity.