The Global glucose sensor market is witnessing rapid technological advancements with high accuracy and precision. These devices are noninvasive and pain free so patients are accepting these devices to monitor blood glucose levels. Glucose sensor devices market is expected to grow at healthy growth rate in forecasting period.
The market for glucose sensors is anticipated to reach $7,588 million in value by 2022. The market for glucose sensors is anticipated to reach US$ 16,382 million by the end of 2032, growing at an 8.6% CAGR between 2022 and 2032.
The number of diabetic patients is anticipated to rise, and patient awareness of blood sugar monitoring is anticipated to rise as well.
The market for glucose sensors is expanding as a result of new product introductions and rising diabetes prevention awareness.
The number of diabetic patients globally is rising as a result of the fast changing lifestyle. Diabetes is also greatly influenced by obesity. The global market for glucose sensors is expanding as the elderly population rises.
On the basis of region, glucose sensor market is segmented into seven key regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia pacific excluding japan, Japan, Middle East and Africa.
Going through the present trend, market seems to be optimistic in near future and is expected to register significant growth during the forecast period.
Currently, North America dominates the Glucose sensor market. Glucose Sensors are most widely used in developed countries because of noninvasive and pain free technologies. Increasing healthcare awareness among people is expected to fuel the demand for glucose sensors in developed regions. Asia Pacific market is considered to rapidly evolving healthcare infrastructure, this region is anticipating providing a lucrative growth of glucose sensor market.
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Glucose Sensor Market: Drivers and restraints
As per the World Health Organization (WHO) diabetes is the seventh leading cause for death. Incidence rate is quite high when compared to other chronic disorder. In 2014, around 382 million were diagnosed with diabetes. Changing lifestyle is expected to further extrapolate the diabetic cases globally. Increasing cases of diabetes is expected to drive the overall demand of glucose sensors devices. Accurate and precise data offered by glucose monitoring sensors than that of conventional devices is another leading driver for this market. Diabetic patients are inclined towards noninvasive techniques such as sensors. More number of people becoming health conscious and use of sensors are increasing gradually. Macroeconomic factors such as increasing healthcare expenditure is expected to further driver the market over the forecast period. Though the market is expected to generate significant revenue throughout the forecast period, high cost of these sensors compared to that of glucose monitoring meters is a major challenge for overall growth of the market.
Glucose Sensor Market: Key players
Abbott Diagnostics, Pinnacle Technologies, Inc., 77 Elektronika KFT, Sanofi, Life Scan (Johnson and Johnson Company) are some of the key market players engaged in glucose sensor market
The Research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
- Eastern Europe (Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Glucose Sensor Market: Segmentation
Glucose Sensor Market can be segmented on the bases of region, product type, technologies, and end-users.
By Product:
- Non Invasive
- Optical Sensors
- Trans Dermal Sensors
- Minimally Invasive
- Micro pore/ Micro needles
- Invasive
- Intravenous Implantable
- Micro dialysis
- Subcutaneous Sensor
By Technologies:
- Photo Acoustic Spectroscopy
- Optical Coherence Tomography
- Polarimetry
- Fluorescence
- MIR Spectroscopy
- NIR Spectroscopy
- Impedance Spectroscopy
- Skin Suction Blister Technique
- Sonophoresis
- Reverse Iontophoresis
By End User:
- Hospitals
- Clinics
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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