Global Non-Invasive Biosensors Market, by Technology, (Optical, Transdermal, Thermal, and Others), by Product Type (Glucose Monitoring, Blood Analytes Monitor, and Others), by End User (Hospitals, Diagnostic Lab, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 2.7 Bn in 2017 and is projected to exhibit a CAGR of 12.1% over the forecast period (2018–2026).
Increasing approval for novel non-invasive biosensors is expected to be a major factor driving growth of the non-invasive biosensors market. For instance, in 2013, Integrity Applications Inc. received CE marking for its new GlucoTrack DF-F device, a non-invasive blood glucose monitoring device. In 2015, Integrity Applications Inc. again received CE approval for its improved version of GlucoTrack DF-F device. The new improved version of GlucoTrack DF-F device has reduced the procedure time from two and half hours to just thirty minutes. In 2016, CNOGA Medical Ltd. received Brazilian National Health Surveillance Agency (ANVISA – Agência Nacional de Vigilância Sanitária) approval to market its new TensorTip COG non-invasive combo Glucometer device in Brazil.
Browse 42 Market Data Tables and 38 Figures spread through 173 Pages and in-depth TOC on Non-invasive Biosensors Market by Technology, (Optical, Transdermal, Thermal, and Others), by Product Type (Glucose Monitors, Blood Analytes Monitors, Breathalyzers, and Others), by End User (Hospitals, Diagnostic Lab, Homecare Settings, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2026
To know the latest trends and insights prevalent in the Non-invasive Biosensors Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/non-invasive-biosensors-market-1704
Increasing R&D activities by key players for gaining approval for novel non-invasive biosensors and presence of products in pipeline is also expected to drive growth of the market. For instance, in 2017. Mclean Hospital announced its LabPatch-alcohol is a non-invasive skin patch to detect blood alcohol concentrations was in clinical trial. LabPatch-alcohol is in early Phase 1 stage of clinical trial. Key players in the market are focused on strategic collaborations for distribution of its novel non-invasive biosensors globally. For instance, in 2017, Integrity Applications Inc. entered into strategic distribution partnership with MediReva B.V. According to partnership, MediReva B.V. will market Integrity Applications Inc.’s GlucoTrack in the Netherlands. Such strategic collaborations is expected to create a lucrative environment for growth of global non-invasive biosensor market in the near future.
Key Takeaways of the global non-invasive biosensors market:
- The global non-invasive biosensors market is expected to exhibit a CAGR of 12.1% over the forecast period (2018–2026), owing to increasing approval of novel non-invasive biosensors in key regions. For instance, 2013, GlucoTrack DF-F received CE marking.
- Europe is expected to witness significant growth over the forecast period. This is due to increasing approvals of novel non-invasive biosensors by European Union. For instance, in 2015, an improved version of GlucoTrack DF-F received CE marking.
- Asia Pacific is also expected to exhibit growth in the global non-invasive biosensor market, owing to rising prevalence of diabetes in the region, which is expected to lead to high demand for novel diagnosis methods such as non-invasive glucometers. For instance, according to the Indian Diabetes Research Foundation, 2016, around 60% of the world’s population suffering from diabetes lives in Asia, with around one-half in China and India combined. The Foundation also states that Western Pacific reported over 138.2 million people suffering from diabetes in 2016, and the number for which is expected to rise to 201.8 million by 2035.
- Major players operating in the non-invasive biosensors market include Nemaura Medical, Inc., MediWise Ltd., Integrity Applications Inc., OrSense, Medtronic Plc, GE Healthcare, Philips Healthcare, Akers Biosciences, Inc. and Abbott Laboratories.
