Global Glucose Biosensors Market is Projected to Reach USD 31 billion by 2022: Market Research Report by Hexa Research

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Rising occurrence of diabetes across the world is projected to be a key growth driver of the “glucose biosensors market” . The chronic disease is one of the most frequently occurring ailments. In fact, it is likely to be one of the top causes of mortality all over the world.

Biosensors are identified as analytical equipment that changes a biological reaction into electrical indicator and helps in measuring an extensive range of analytes comprising gases, bacteria, organic compounds and others. It includes the biological components that work as a sensor & an electrical constituent that is utilized to distinguish and pass on the signal. Glucose biosensors are usually used to sense the concentration of sugar/glucose in patients. Bio-constituents such as proteins comprising nucleic acids, enzymes, and others are utilized as biosensors in lieu to examine the concentration of glucose in a patient.

Some key factors accredited to the expansion of this market include the growing occurrence of diabetes around the globe, the growth of the technically advanced products, increasing the requirement for non-invasive products, micro-sized products, increasing patient consciousness levels, and the requirement for early diabetes recognition. However, the existence of other options for supervision of diabetes, such as laboratory process is expected to confine market expansion over the forecast period. Rising occurrence of diabetes worldwide is the main factor contributing towards the expansion of this industry.

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Glucose monitoring of blood is utilized as an essential instrument in diabetes management. As upholding of normal blood glucose levels is significantly important for the patients suffering from diabetes, an advancement of appropriate glucose biosensors has been made to fulfill the demands of the patients suffering from this disorder. Moreover, the increasing requirement for self-monitoring equipment has amplified the utilization of biosensors particularly in handy forms. These sensors are currently available as miniature devices and minimally invasive equipment that calculates glucose levels in a patient. Scrutinization of glucose level in blood at regular period is an important factor required for disease management. Moreover, production of dependable and precise glucose biosensors is expected to pose the challenge for market players.

The initiation of technical advancements is likely to play an essential role in enhancing usage rates. This is obvious from the improvement of non-invasive and minimal glucose biosensors in this industry.

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Glucose biosensors industry is expected to observe soaring growth owing to escalating diabetic patient population worldwide. Thus, escalating occurrence of diabetes will augment the requirement for glucose biosensors and hence is expected to propel the industry growth. In addition, growing requirement for point of care diagnostics and home care diagnostics, coupled with the increase in utilization of glucose biosensors in non-medical functionality will further encourage the glucose biosensors market. However, increase in the overall cost of the treatment by the usage of biosensors is expected to restrain the industry growth of over the forecast period.

On the basis of types, the market is segmented into glucose biosensors and fluorescence glucose. Among these two kinds, amperometric glucose biosensor is extensively accessible commercially. Amperometric biosensor operates by the oxidation of glucose. Amperometric biosensors oxidize glucose directing to create hydrogen peroxide, which is monitored by the electrode and the level of glucose is examined. Moreover, by the improvement in fluorescent glucose biosensor, it is likely to capture the huge market share over the forecast period. This biosensor works on fluorescence process that calculates the level of blood glucose with additional precision. The operational life of this biosensors is of better quality, in comparison to amperometric biosensors which is expected to fuel the market for this segment biosensors. 

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On the basis of end-use, the market can be segregated into home care diagnostics, hospitals, and others. The home care diagnostics is expected to grow rapidly over the forecast period owing to increasing demand coupled with latest innovation & advancement that are been inculcated into these devices to make it more precise and accurate. Hospital sector is expected to capture maximum share over the forecast period. On the basis of a geographical region, the market can be segregated into North America, Europe, Asia Pacific and Rest of World. North America is expected to capture maximum revenue over the forecast period owing to increasing cases of diabetes in North America coupled with technological advancement that is happening in this area. Europe is expected to capture second largest revenue over the forecast period. Asia Pacific is expected to grow rapidly over the forecast period owing to increasing aging population coupled with increasing consumer awareness about these devices.

Some of the key players in the market in this market are Roche, Abbott, Siemens Healthcare Diagnostics, Nova Biomedical Corp, Animas Corporation, M-Biotech, LifeScan, AgaMatrix, Medtronic Diabetes and others. Currently, carbon nanotubes have got extensive attention as capable carbon-based nano electronic equipment owing to their exceptional chemical, physical and electrical properties, specifically a soaring surface-to-volume proportion, their superior electron transfer properties, and their soaring thermal conductivity, carbon nanotubes are being utilized efficiently as electrochemical sensors. The incorporation of carbon nanotubes as a functional group offers a solid and good support for the control of enzymes and their integration with glucose biosensors offers a quick detection rate and high accuracy. A number of R&D initiatives are being taken by active players in the market to capture maximum revenue.

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