The non-invasive glucose meter market is surging a rapid growth on account of the rising count of diabetic patients. Rising health awareness leading to regular blood sugar level monitoring by diabetic patients has generated demand for non-invasive glucose monitoring devices is further fueling the market growth. Also, certain drawbacks associated with the minimally invasive technique are excessive pricking, biofouling, and infections have pushed the market growth uphill. In addition, painless, bloodless, convenient, user-friendly glucose meter for self-diagnosis is again contributing the market growth.
The latest report by Value Market Research expects the Global Non-Invasive Glucose Meter Market to reach USD 40 billion by 2025. It was valued USD 17 million in 2018. The report foresees a 13% CAGR from 2019 to 2025.
HANDHELD DOMINATED THE PRODUCT SEGMENT
In 2018, handheld emerged as the leading product segment owing to its user-friendly interface over the wearable device. Also, limitations associated with wearable devices such as higher costs and its requirement for internet connection is fueling the segment growth.
HOUSEHOLD LED THE APPLICATION SEGMENT
On the basis of application, household dominated the segment in 2018. Rapid results, avoid visiting the hospital, user-friendly, ultra-portability are some of the factors promoting the use of non-invasive glucose meter for household application. Also, the rising count of an elderly population suffering from diabetes is again boosting the market demand for household application.
NORTH AMERICA DOMINATED THE REGIONAL MARKET
Regionally, North America emerged as the leading market and has accounted major market share in 2018. A growing number of diabetic population, increased spending on healthcare is driving the regional market growth. Also, increased demand for a non-invasive method of blood glucose diagnosis owing to painless yet result driven technique is further fueling the market growth.
MAJOR PLAYERS OF THE MARKET
Some of the prominent players of the market are 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.
As per this study the Global Non-Invasive Glucose Meter Market was valued USD 163.25 MN (by revenue) in 2022 and is anticipated to reach USD 286 MN by 2030 with a CAGR of 7.26%.
Non-invasive glucose meter refers to the device that measures the blood glucose level without withdrawing blood from the patient's body. It uses the technology that detects the blood sugar level in a bloodless, painless and rapid manner leading to simple and convenient diabetic care. Usually, the wearable or handheld devices are used for noninvasive blood sugar monitoring.
Market Dynamics
Growing prevalence of diabetes has driven the demand for self-monitoring devices. Growing demand for regular blood glucose monitoring has generated need for non-invasive, painless yet rapid glucose meter. This, in turn, is fueling the market demand. Drawbacks of minimally invasive techniques such as cost of strip, patient's inconvenience, and risk of biofouling are again pushing the demand for painless, non-invasive glucose meter. However, low awareness regarding the technology may hinder the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of non-invasive glucose meter.
Market Segmentation
The broad non-invasive glucose meter market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
By Technology
- Near Infrared Spectroscopy (NIRS)
- Raman Spectroscopy
- Photo-acoustic Spectroscopy (PA)
- Optical Coherence Tomography (OCT)
- Mid-Infrared Spectroscopy (Mid-IRS)
- Other Technologies
By End User
- Healthcare Providers
- Home Healthcare Setting
- Research Institutes
Regional Analysis
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for non-invasive glucose meter in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Non-Invasive Glucose Meter Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the non-invasive glucose meter market include Abbott Laboratories, Bayer Healthcare, Biophotonic Corporation, Cnoga Care, DexCom, Integrity Applications Incorporate, Life Scan, MediWise, Nemaura Medical Inc., and OrSense Ltd.. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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