Global Non-Invasive Glucose Market Report 2019: Market Foreseen To Touch USD 4.8 BN By 2026
Posted On January 07, 2020
As per the report on the Global Non-Invasive Glucose Meter Market published by Value Market Research, the market was valued USD 2.9 BN in 2019 and is anticipated to reach USD 4.8 BN by 2026 with a CAGR of 7.19% within the forecasted period within 2020-2026. The growth in the occurrence of diabetes has driven the demand for devices that can be self-monitored. The growth in the demand for regular blood glucose monitoring has also generated the need for a non-invasive, painless and rapid glucose meter which in turn is fuelling the market demand. The drawbacks of minimally invasive techniques such as cost of the strip, patient’s inconvenience and the risk of biofouling are also factors driving the demand for a painless, non-invasive glucose meter. However, the low awareness regarding the technology may act as a hindrance to the growth of the global non-invasive glucose meter market.
The non-invasive glucose meter refers to a device that is used to measure the blood glucose level without withdrawing blood from the body of the patient. It is used to prevent both chronic and acute complications caused to patients suffering from diabetes. It uses the technology that detects the blood sugar level in a bloodless, painless and rapid manner thus leading to simple and convenient diabetic care. Generally, wearable or handheld devices are used for non-invasive blood sugar monitoring.
The report “Global Non-Invasive Glucose Meter Market Report By Product (Handheld, Wearable And Others), By Application (Household, Hospitals, Clinics And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026” covers the market trends, size, shares, growth and forecasts for the period from 2020 to 2026 for the global non-invasive glucose meter market.
By product, handheld and wearable are the classifications of the global non-invasive glucose meter market where handheld has dominated the product segment owing to its user-friendly interface over the wearable devices. The limitations associated with wearable devices such as higher cost and its requirement for internet connection is further responsible for fuelling the market growth.
By application, households, hospitals and clinics are the segments of the global non-invasive glucose meter market where households led the application segment. The immediate test results, avoiding hospital visits, user-friendliness and ultra-portability are some of the factors promoting the use of non-invasive glucose meter for household applications. The rise in the count of the elderly population suffering from diabetes is again responsible for boosting the market demand for household applications.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the global non-invasive glucose meter market. As per the report, North America has dominated the regional market and accounted for a major market share. The growth in the number of the diabetic population and the increase in the expenditure on healthcare is responsible for driving the regional market growth. Also, the increase in the demand for a non-invasive method of blood glucose diagnosis owing to a painless yet result-driven technique is further fuelling the growth of the market.
The Report Segments Global Non-Invasive Glucose Meter Market -
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Abbott Laboratories, Bayer Healthcare, Biophotonic Corporation, Cnoga Care, DexCom, Integrity Applications Incorporate, Life Scan, MediWise, Nemaura Medical Inc., OrSense Ltd, Roche Diagnostics and Tech4Life Enterprises
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