NON-INVASIVE BLOOD GLUCOSE MONITORING DEVICES MARKET ANALYSIS

The global non-invasive blood glucose monitoring devices market was valued US$ 24.22 Mn in 2023 and is expected to reach US$ 77.63 Mn by 2031 growing at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.

Global Non-Invasive Blood Glucose Monitoring Devices Market Regional Insights

• North America is the largest market for non-invasive blood glucose monitoring devices, accounting for 35% of the global market share for the year 2023. The high prevalence of diabetes in the region is driving the growth of the market.
• Europe is the second largest market for non-invasive blood glucose monitoring devices, accounting for 25% of the global market share for the year 2023. The increasing awareness in the region is driving the market for the forecasted period of time
• Asia Pacific is the third largest market for non-invasive blood glucose monitoring devices, accounting for 20% of the global market share for the year 2023. The rising incidence of heart diseases and lifestyle related diseases such as diabetes in the region are driving the growth of the market.

Figure 1. Global Non-Invasive Blood Glucose Monitoring Devices Market Share (%), by Region, 2023

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Analyst’s Views on the Global Non-Invasive Blood Glucose Monitoring Devices Market

The non-invasive blood glucose monitoring devices market presents ample opportunities over the forecast period driven by the increasing prevalence of diabetes globally. Alternative pain-free methods of glucose monitoring will drive significant demand alleviating the barriers faced by people in pricking their fingers multiple times daily. With advancements in bio sensing technologies, many companies are actively working on introducing reliable and accurate non-invasive methods, eliminating the need for finger-pricking. North America currently dominates the market due to supportive reimbursement policies and the regional presence of key players. However, Asia Pacific is expected to witness fastest adoption due to the rising diabetes population and increased awareness.

The market currently faces challenges associated with the accuracy and reliability of extracted glucose readings without drawing blood. Technological limitations continue to remain a key restraint in the market. Furthermore, stringent regulatory norms also delay the speed of new product introduction. Despite obstacles, continuous investments in R&D will spur more product approvals leading to higher acceptability. Upon addressing accuracy-related concerns, demand could surpass invasive devices considering patient comfort. With enhancements, point-of-care devices may gain popularity over laboratory-based technologies. Increasing preference towards decentralized healthcare will favor home-based devices.

Global Non-Invasive Blood Glucose Monitoring Devices Market Drivers

• Increasing prevalence of diabetes: Rising prevalence of diabetes is a major concern globally, which is directly impacting the growth of the non-invasive blood glucose monitoring devices market. Long-term complications from high blood sugar can damage organs and tissues over time if not controlled properly. Monitoring blood sugar levels has become crucial for diabetes management as it provides patients and healthcare professionals with a clear picture of overall blood sugar control over the past 2-3 months. The American Disease Association (ADA) recommends checking HbA1c levels at least twice a year for patients who are meeting treatment goals and have stable glycemic control, and quarterly for patients whose therapy has changed or who are not meeting glycemic goals. The increasing prevalence of diabetes is expected to propel the growth of the global non-invasive blood glucose monitoring devices market over the forecast period. For instance, as per the International Diabetes Federation, approximately 520 million people aged 20-79 years were living with diabetes in 2021, which is expected to rise to 700 million by 2045. Type 2 diabetes accounts for over 90% of the diabetes cases globally.
• Technological Advancements in Non-Invasive Monitoring Techniques: Technological innovations are now addressing this need through novel non-invasive methods such as transdermal optical, spectroscopic and ultrasonic methods that do not require drawing blood. These technological advancements are projected to drive the market over the forecasted period. For instance, according to an article published by the American Journal of Transitional Research on June 2023, gold nanostructure-programmed flexible electrochemical biosensor developed a flexible chip with gold electrode arrays, which used gold nanopine needles (AuNNs) to amplify the input signal. They applied the electrochemical sedimentary method to deposit AuNNs on the working electrode, increasing the surface area ratio and allowing more enzymes to be fixed, thus increasing sensitivity. The catalytic mechanism on the electrode surface caused glucose to oxidize and produce hydrogen peroxide when a certain potential was applied.

Global Non-Invasive Blood Glucose Monitoring Devices Market Opportunities

• Development of smartphone-based monitoring solutions: Smartphone-based monitoring solutions can help address this issue of poor patient compliance by providing non-invasive and pain-free options for glucose monitoring. Various approaches are being researched such as an app connected to a Bluetooth enabled patch or sensor which can measure interstitial fluid glucose levels through the skin and relay readings to the patient's smartphone. These elements are presenting the market with substantial opportunities for expansion. As per a July 2022 publication by MDPI, the development of smartphone-integrated portable, wearable, and implantable electrochemical glucose monitors is advancing swiftly, aimed at achieving enhanced convenience, real-time tracking, comfort, and precision in monitoring.

Global Non-Invasive Blood Glucose Monitoring Devices Market Trends

• Transition towards continuous glucose monitoring solutions: The transition towards continuous glucose monitoring solutions is having a significant influence on non-invasive blood glucose monitoring device market. Continuous glucose monitors which track glucose levels in real time and alert patients to high or low readings are becoming more widely adopted compared to conventional self-monitoring practices of finger pricks. Continuous glucose monitoring (CGM) devices are becoming gradually used by individuals with diabetes to as offer a snapshot of glucose concentration at the time of testing and help control their condition. For instance, according to Royal Society of Chemistry, publication ‘Recent advances in optical sensors for continuous glucose monitoring’ in July 2022, measuring blood glucose levels during physical activity is of utmost importance as the measurement of hypo and hyperglycemia during and after the physical activities as it can affect patient health. Continuous Glucose Monitoring (CGM) is vital for diabetic individuals to maintain a healthy and balanced lifestyle by controlling diet, physical activity, and timely medicine intake by knowing real-time blood glucose levels.

Global Non-Invasive Blood Glucose Monitoring Devices Market Restraints

• Regulatory compliance issues and product recalls: Regulatory compliance issues and product recalls are significantly restraining the growth of the non-invasive blood glucose monitoring devices market. Non-invasive monitoring devices rely on novel sensing technologies like near-infrared spectroscopy, reverse iontophoresis, etc. to extract glucose information from other body tissues like skin and tears. However, these alternative site monitoring approaches are still in early stages of development and extensive clinical testing is required to prove their accuracy and reliability equivalent to traditionally used invasive fingerprick methods. For instance, in April 2023, Abbott Laboratories, S. based medical devices & healthcare company, announced the recall of reeStyle Libre Flash Glucose Monitoring System, FreeStyle Libre 14 day Flash Glucose Monitoring System, and FreeStyle Libre 2 Flash Glucose Monitoring System as these devices use rechargeable lithium-ion batteries, may get extremely hot, spark, or catch on fire if not properly stored, charged, or used with its Abbott Laboratories provided USB cable and power adapter.

Recent Developments

New product launches

• Medtronic plc, a U.S.-based medical device, services, and solutions company, announced the launch of all-in-one, disposable Simplera, continuous glucose monitor (CGM), featuring a simple, two-step insertion process, and no-fingerstick sensor in Europe as it received Conformité Européenne (CE) Mark approval mark, on September 21, 2023
• Senseonics Holdings, Inc., a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems, announced the U.S Food and Drug Administration (FDA) approval on February 2022, for next-generation Eversense E3 CGM System. It is indicated to continually measuring glucose levels for up to 6 months in persons with diabetes age 18 and older. The system is indicated for use to replace finger stick blood glucose testing devices.
• In July 2021, Terumo Corporation, a Japan-based global medical technology company, announced the launch of Dexcom G6, the device is a small, wearable sensor, and transmitter to measure and automatically send glucose values wirelessly to a smart device.

Acquisitions and partnerships

• Senseonics Holdings, Inc.: In August 2022, Senseonics Holdings, Inc., a U.S.-based global medical technology company, announced a strategic partnership with Ascensia Diabetes Care (Ascensia), a global diabetes care company. Through this partnership, Ascensia became the exclusive worldwide distributor of Senseonics Holdings, Inc.’s Eversense CGM system.
• Astellas Pharma Inc.: On March 28, 2023, Astellas Pharma Inc., a Japan-based global pharmaceuticals company, announced an partnership agreement with Roche Diabetes Care Japan Co., Ltd, a global pharmaceutical and medical technology company. This agreement is to develop and commercialize integrated diabetes self-management solution with BlueStar, India based electronic manufacturing company

Figure 2. Global Non-Invasive Blood Glucose Monitoring Devices Market Share (%), by Technology, 2023

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Top Companies in the Global Non-Invasive Blood Glucose Monitoring Devices Market

• Baxter International Inc.
• Dexcom, Inc
• Abbott laboratories
• Medtronic Plc
• Senseonics Holdings, Inc
• GlySens Incorporated
• DiaMonTech GmbH
• Nemaura Medical Inc.
• Integrity Applications, Inc.
• CNOGA Medical Ltd.
• Breath Health, Inc.
• Metamaterial Technologies Inc.
• Opticology Inc.
• NovioSense BV
• Quick LLC
• RSP Systems A/S.

Definition: The global non-invasive blood glucose monitoring devices market refers to the sector of the medical device industry that specializes in the production and distribution of devices used to measure blood glucose levels without the need for skin piercing or blood sampling. These devices employ various technologies such as infrared spectroscopy, electromagnetic sensing, optical coherence tomography, ultrasound, bio-impedance analysis, and others to detect glucose levels in the body through non-intrusive means. This market segment caters to individuals with diabetes or those who need to monitor their blood glucose levels regularly, providing a less painful and more user-friendly alternative to traditional finger-prick blood glucose tests.

The market is driven by the increasing prevalence of diabetes caused due to increase obesity & change in lifestyle causing physically inactivity. Additionally, the rising demand for non-invasive blood glucose monitoring devices in the homecare setting segment is also driving the market growth.

The market is segmented based on technology, modality, end user, and region. By technology, the market is divided into EM waves, transdermal, optical, and ezymatic. The EM waves segment is expected to hold the largest market share during the forecast period. This is due to increased R&D and product launches.