The rising prevalence of diabetes and technological advancements in glucose monitoring are the primary factors driving the glucose biosensors market demand.

NEW YORK CITY, NY, UNITED STATES, September 4, 2024 /EINPresswire.com/ -- The comprehensive market research report on Glucose Biosensors by Polaris Market Research includes a thorough examination of the growth drivers and market trends.

As per the recent market analysis by Polaris Market Research, the global glucose biosensors market size was valued at USD 12.11 billion in 2023. The market is predicted to reach USD 23.28 billion by 2032, exhibiting a CAGR of 7.5% over the predicted time frame, 2024 to 2032.

What are Glucose Biosensors?

A biosensor is an analytical device that combines a biological component and a physiochemical detector for detecting the presence of chemicals. These are a wide range of biosensors that can measure various analytes, including gases, ions, inorganic compounds, and bacteria. Glucose biosensors are a specific type of biosensors that can help detect and measure the presence of glucose. These biosensors comprise several components, including bioreceptors, transducers, and analytes. The signal from these components is collected and shown on the glucose meter’s display or the continuous glucose monitor of the receiver.

Glucose biosensors are available in both a discrete form and a wearable form. Continuous glucose biosensors can measure and detect glucose levels 24 hours a day. Non-invasive glucose biosensors use a non-invasive approach to measure the level of glucose in the blood. Implantable biosensors assist in the continuous monitoring of glucose levels in healthcare settings. The growing awareness about the need to monitor glucose levels regularly to prevent diabetes-related complications propels the glucose biosensors market demand.

What are Key Report Findings?

• The global glucose biosensors industry was valued at USD 12.11 billion in 2023 and is anticipated to grow to USD 23.28 billion by 2032.

• The rising prevalence of diabetes and technological advancements in glucose monitoring are the major factors driving the market growth.

• The glucose biosensors market segmentation is primarily based on type, technology, control method, end-use, and region.

• The Asia Pacific region is anticipated to witness significant growth over the forecast period.

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Who are Top Industry Players?

The top industry participants continuously strive to improve the efficiency and accuracy of their blood monitoring devices through continuous innovation.

Some of the major players in the glucose biosensors market are:
• Abbott Laboratories
• ACON Laboratories, Inc.
• Ascenia Diabetes Care
• Biolinq Incorporated
• Dexcom
• Hoffmann-La Roche Ltd.
• Lifescan
• Medtronic plc
• PalmSens
• SB Solutions

What are Latest Market Trends and Opportunities?

• Technological Advancements: Innovations in glucose biosensors, which include the introduction of non-invasive biosensors and digital health platform integration, have improved the efficiency and convenience of diabetes management. Also, the introduction of devices that can seamlessly integrate with wearable technology has a favorable impact on the market expansion.

• Rising Prevalence of Diabetes: The rising prevalence of diabetes is another major factor driving the glucose biosensors market growth. Besides, the increasing awareness among individuals about the importance of diabetes management further boosts the market development.

• Government Programs: The implementation of government programs that can offer affordable healthcare and promote diabetes management is expected to drive the demand for glucose biosensors further.

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Which Region Leads Market Growth?

The research report covers all the major regions and sub-regions of the market. It offers market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The North America region witnessed the largest market share in 2023. The region’s robust growth is attributed to the rising innovation in healthcare, which includes the development of advanced glucose biosensors. Also, the presence of robust healthcare infrastructure further supports the market development in the region.

The Canada glucose biosensors market is witnessing robust growth. This is primarily due to the region’s strong emphasis on diabetes management. Besides, the presence of numerous key players drives innovation and product development in the region.

How is Market Segmentation Done?

Glucose Biosensors Type Outlook:
• CGM (Continuous Glucose Monitoring)
• SMBG (Self-monitoring Blood Glucose)

Glucose Biosensors Technology Outlook:
• Electrochemical Biosensor
• Optical Biosensor
• Others

Glucose Biosensors Control Method Outlook:
• Chemical
• Physical
• Biological
• Others

Glucose End-Use Outlook:
• Hospitals
• Homecare
• Diagnostic Center

Glucose Biosensors Regional Outlook:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia-Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia-Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

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FAQs
At what CAGR is the glucose biosensors market anticipated to grow?
The global market is projected to grow at a CAGR of 7.5% during the forecast period.

Which region accounted for the largest industry share?
North America accounted for the largest share of the glucose biosensors market.

Who are the key players in the market?
The key players in the market are Abbott Laboratories, ACON Laboratories, Inc., Ascenia Diabetes Care, Biolinq Incorporated, and Dexcom, F. Hoffmann-La Roche Ltd.

Which technology led the glucose biosensors market?
The electrochemical biosensor segment accounted for the largest market share.

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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

Likhil G
Polaris Market Research and Consulting
+1 929-297-9727
sales@polarismarketresearch.com
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