The global glucose biosensor market is poised to grow at a significant rate over the forecast period. A glucose biosensor is an analytical device used for the detection of glucose concentration in biological samples. It incorporates a bio-recognition element like glucose oxidase enzyme or glucose-binding protein. The bio-recognition element is immobilized on a physicochemical transducer that transforms the biological event into a quantifiable analytical signal. Increased prevalence of diabetes and stringent regulatory protocols related to self-monitoring and homecare are the key factors driving the growth of this market. Technological advancements in developing minimally invasive, low-cost, accurate, and user-friendly biosensor have accelerated their adoption in point-of-care and home-use applications.
Market Dynamics:
The growth of the global glucose biosensor market is driven by rising geriatric population and increasing incidence of diabetes across the world. As per the International Diabetes Federation, around 463 million adults (20-79 years) were living with diabetes in 2019 and the number is projected to increase to 700 million by 2045. This has significantly increased the demand for self-monitoring of blood glucose. Moreover, favorable reimbursement policies and government initiatives to promote self-monitoring are providing impetus to the market growth. However, stringent regulatory approvals and high costs associated with biosensor are expected to hinder the market expansion to some extent during the forecast period. On the positive side, ongoing R&D to develop wearable, non-invasive, and smartphone integrated biosensor opens new avenues.
Key Features of the Study:
Detailed Segmentation:
Table of Contents
*Browse 35 market data tables and 30 figures on “Global Glucose Biosensor Market” - Global forecast to 2031
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients