Global Non-Invasive Blood Glucose Monitoring Devices Market, By Technology (Optical, Transdermal, Enzymatic, and Others), By Modality (Wearable, and Non-wearable), By End User (Hospitals, Home Care Settings, and Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5.1 million in 2017, and is projected to exhibit a CAGR of 35.0% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Rising prevalence and incidence of diabetes worldwide, along with increasing research and development (R&D) activities by various key players in the market to develop and launch innovative and cost-effective devices is expected to boost growth of the non-invasive blood glucose monitoring market in the near future. For instance, according to International Diabetes Federation (IDF) Diabetes Atlas: 2017, in 2017, number of people with diabetes worldwide aged between 20 to 79 years was 425 million, which is estimated to increase by 48% in 2045, accounting for 629 million.
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Furthermore, inorganic growth strategies adopted by key players to gain competitive edge in the market is expected to drive growth of the market. In July 2018, Metamaterial Technologies Inc. acquired Medical Wireless Sensing Ltd. (MediWiSe). MediWiSe is a medical research and development company that focuses on developing wireless devices in medical diagnostics and monitoring. MediWiSe has made significant advancements in non-invasive glucose monitoring and is working towards developing a new product called Glucowise.
Non-invasive glucose monitoring can achieve painless, risk-free, low-cost and frequent testing of glucose, which is an ideal method for self-monitoring of glucose. Non-invasive glucose tests majorly include the reverse iontophoresis method, optics-related method, metabolic heat conformation method, and bio-impedance spectroscopy method among others.
Moreover, due to complexity of human body composition and physiological processes, no single non-invasive method can achieve the reliable test results alone. Therefore, researchers are conducting studies on integration of multiple methods, which have become a major trend for research on non-invasive glucose monitoring.
Key players in the market are developing non-invasive devices, which integrate more than two detection methods. For instance, Glucotrack, a non-invasive intermittent glucose monitoring device for home-use, uses a combination of three technologies (ultrasonic, electromagnetic, and thermal) with a unique algorithm to weigh each measurement and calculate the weighted average of the three readings.
Browse 22 Market Data Tables and 17 Figures spread through 163 Pages and in-depth TOC on “Global Non-Invasive Blood Glucose Monitoring Devices Market, By Technology (Optical, Transdermal, Enzymatic, and Others), By Modality (Wearable, and Non-wearable), By End User (Hospitals, Home Care Settings, and Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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Key Takeaways of the Non-Invasive Blood Glucose Monitoring Devices Market:
- The global non-invasive blood glucose monitoring devices market is expected to expand at a CAGR of 35.0% during the forecast period (2018 – 2026), owing to increasing usage of glucose monitors by diabetic patients.
- Among modality, non-wearable segment is expected to hold the major market share in 2026. Increasing research and development (R&D) activities by key players, combined with growing investor funding to back the research is expected to drive growth of non-wearable segment in global non-invasive blood glucose monitoring devices market.
- Major players operating in the global non-invasive blood glucose monitoring devices market include DiaMonTech GmbH, Nemaura Medical Inc., Integrity Applications, Inc., CNOGA Medical Ltd., Breath Health, Inc., Metamaterial Technologies Inc., Opticology Inc., NovioSense BV, Quick LLC, and RSP Systems A/S.
- Global Non-Invasive Blood Glucose Monitoring Devices Market, By Technology:
- Infrared Spectroscopy
- Raman Spectroscopy
- Impedance Spectroscopy
- Reverse iontophoresis
- Global Non-Invasive Blood Glucose Monitoring Devices Market, By Modality:
- Global Non-Invasive Blood Glucose Monitoring Devices Market, By End User:
- Home Care Settings
- Global Non-Invasive Blood Glucose Monitoring Devices Market, By Region:
- North America
- Asia Pacific
- Latin America
- Middle East
- Company Profiles
- DiaMonTech GmbH*
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Nemaura Medical Inc.
- Integrity Applications, Inc.
- CNOGA Medical Ltd.
- Breath Health, Inc.
- Metamaterial Technologies Inc.
- Opticology Inc.
- NovioSense BV
- Quick LLC
- RSP Systems A/S
- DiaMonTech GmbH*
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Name: Mr. Raj Shah
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