Biosensors are defined as analytical devices that convert a biological response into electrical signal and assist in measuring a wide spectrum of analytes including organic compounds, gases, bacteria and others. It comprises biological component that acts as a sensor and an electrical component and used to detect and transmit the signal. Glucose biosensors are normally used to detect concentration of glucose in diabetic patients. Bio-elements such as proteins including enzymes, nucleic acids and others are used as biosensors in order to analyze the concentration of glucose in an individual. There are commonly two types of glucose biosensors namely amprometric and fluorescence glucose biosensors. Among these two types, amprometric glucose biosensors are widely available commercially. These biosensors operate by the means of glucose oxidase. It oxidizes glucose leading to the production of hydrogen peroxide, which is detected by electrode and the concentration of glucose is analyzed. However, with the innovation in fluorescent glucose biosensors, it is expected to capture the large market share in near future. Fluoroscence biosensor works on fluorescence technique that measures the concentration of blood glucose with more accuracy. The working life of probe of fluoroscence biosensor is superior to amprometric biosensor which will drive the market of fluoroscence biosensors.
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Glucose biosensors market is expected to witness high growth owing to increasing diabetic patient population globally. For example, according to World Health Organization (WHO), more than 347 million people are diagnosed with diabetes worldwide. The organization has also estimated diabetes as the seventh leading cause of death by 2030. Thus, increasing incidences of diabetes will boost the demand for glucose biosensors and hence drives the market growth. In addition, increasing demand for home care diagnostics, point of care diagnostics and rise in use of glucose biosensors in non-medical applications will further stimulate the market of glucose biosensor. However, high cost for the treatment through biosensor will restrain the market growth of glucose biosensor.
The market of glucose biosensors can be categorized into:
- Amprometric Glucose Biosensors
- Fluorescence Glucose Biosensors
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Geographically, North America dominates the global glucose biosensor market. The major factors influencing the glucose biosensors market in this region is technological advancement coupled with rising incidence of diabetes in North America. For instance, according to Center for Disease Control and Prevention report, as of 2012 around 29.1 million people (9.3% of the total United State population) are diagnosed with diabetes and the number is projected to increase in future. Europe is considered as the second largest market of glucose biosensors. Consistent rise in demand for the treatment of diabetes coupled with high efficiency of the biosensors compared to the conventional treatment will stimulate the growth of this market in Europe. Moreover, aging population in Europe will also stimulate the uptake of glucose biosensors and hence drives the market growth. According to the European Commission report published in 2013, around 17.8% of the European population was aged 65 years in 2012 and the number is expected to increase in the future. Asia-Pacific is considered as the emerging market of glucose biosensors due to increasing awareness of biosensors among patient population.
Some of the companies operating in the glucose biosensors market are Lifesensors, Inc., Abbott Point Of Care, Inc., Animas Corporation, Medtronic Diabetes, AgaMatrix, Inc., Nova Biomedical Corp., Siemens Healthcare Diagnostics, Inc., LifeScan, Inc., F. Hoffman-La Roche and M-Biotech Limited and others.