Market Analysis: Global Glucose Sensors Market

Global glucose sensors market is set to witness a healthy CAGR of 19.4% in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. The rise in the market value can be attributed to increasing cases of diabetes, and rising awareness, increasing geriatric population and increasing use of CGM devices.

Market Definition: Global Glucose Sensors Market

Glucose sensors are compressed analytical device or an element, integrating a biological or biologically derivative sensitive recognition section combined with physiochemical transducer. These sensors are important for oral glucose lowering medication or insulin treatment to deliver data of glucose concentrations in body. These sensors are pretty effective in monitoring the glucose level in human body.

According to the International Diabetes Federation, in 2017, diabetes caused 4 million deaths in which around 425 million adults were living with diabetes and this number will rise to 629 million by 2045. The number of adults with diabetes who are living in low- and middle-income countries is around 79%. Large numbers of people suffering from diabetes are in between 40 and 59 years of age.

Market Drivers

·         Rising number of diabetes patients is driving the market growth
·         Increase in research and development investments is accelerating the market growth
·         Accurate and precise data of  the sensor is acting as a catalyst in market growth
·         Growing healthcare expenditure is increasing the market growth
·         Growing geriatric population is enhancing the market growth

Market Restraints

·         Strict rules and high cost of the sensors is hampering the market growth
·         Emerging Economies is hindering the market growth

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Segmentation: Global Glucose Sensors Market

By Product

Invasive Glucose Monitoring
Non Invasive Glucose Monitoring
Lab Based Glucose Monitoring
Self-Glucose Monitoring

o   Blood Glucose Meter

o   Blood Glucose Testing Strips

o   Lancets

o   Others

By Technology

Photo Acoustic Spectroscopy
Optical Coherence Tomography
Polarimetry
Fluorescence
MIR Spectroscopy
NIR Spectroscopy
Impedance Spectroscopy
Skin Suction Blister Technique
Sonophoresis
Reverse Iontophoresis

By Component

Sensors
Transmitters & Receivers
Integrated Insulin Pumps

  By Demographics

Adult Population (>14 years)
Children Population (≤14 years)

End Users

Hospitals
Clinics
Home Care
Ambulatory Settings
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
Germany
Sweden
Poland
Denmark
France
United Kingdom
Italy
Spain
Russia
Turkey
Belgium
Netherlands
Switzerland
Rest of Europe
Asia-Pacific
Japan
China
South Korea
India
South Korea
New Zealand
Vietnam
Australia
Singapore
Thailand
Malaysia
Indonesia
Philippines
Rest of Asia-Pacific
South America
Brazil
Rest of South America
Middle East & Africa
South Africa
Rest of Middle East & Africa

Key Developments in the Market:

·         In June 2019, Nemaura Medical has received European approval to use needleless continuous glucose monitor on diabetic patients. This monitor was named as sugarBEAT. This device is paired with a smartphone app displaying glucose readings every five minutes. This approval would present a convenient alternate to the traditional methods used to monitor blood glucose to the patients
·         In March 2018, Medtronic plc announced that it has received U.S. Food and Drug Administration (FDA) approval for its Guardian Connect continuous glucose monitoring (CGM) system. It is the first smart standalone CGM system which assists people with diabetes to protect them from high and low glucose events. This  system would encourage people using multiple daily injections to control their diabetes

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Competitive Analysis

Global glucose sensors market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of glucose sensors market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.