Market Challenges And Opportunities

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 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.