Subcutaneous glucose sensors are used to monitor blood sugar levels. The CGM system receives data from these sensors wirelessly. In order to keep tabs on a patient’s blood sugar level, they send readings at regular intervals to a monitoring system or smart compatible devices.
Global Glucose Sensor Market: Drivers
The development of novel glucose sensors is the focus of a growing number of research projects, which should fuel the expansion of the market for glucose sensor. For example, a clinical investigation at the University of California San Diego and the National Institutes of Health (NIH) in April 2018 was carried out for an adhesive glucose sensor to assess sweat glucose in diabetic patients was launched. The primary objective of this clinical trial is to investigate the precision and acceptance of diabetes mellitus patients’ that uses non-invasive, wearable glucose sensor. The research is expected to wrap up in June of this year.
The introduction of innovative glucose monitoring products is also anticipated to boost the size of the glucose sensor market. As an illustration, in December of 2018, Nemaura Medical Inc., the medical technology firm producing sugarBEAT, reached an arrangement for distribution and licensing early 2019 sugarBEAT will be available for purchase in Qatar thanks to a partnership with Al-Danah Medical Co. of Doha. When it comes to CGMs, sugarBEAT is the first that can be used without a needle or any other intrusive operation.
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Global Glucose Sensor Market: Regional Analysis
The global market for glucose sensors is broken down into different sections based on geography, including North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
The existence of key competitors and the launch of innovative products bode well for the North American glucose sensor industry. For example, Abbott Laboratories’ FreeStyle Libre 14 day Flash Glucose Monitoring System was approved by the FDA in July 2018. The system’s accuracy is great, and the sensor can be worn by a diabetic patient till 14 days. It’s the first CGM system that doesn’t require a finger-prick blood sample, making it ideal for diabetics who need to make frequent treatment adjustments on the fly. Using this technique, a thin sensor wire is implanted under the skin, removing the requirement for traditional fingerstick testing. This sensor checks blood glucose levels often.
In addition, rising spending on diabetes healthcare in Asia and the Pacific is likely to boost the region’s glucose sensor market significantly throughout the forecast period. For instance, in 2017, healthcare costs related to diabetes across Asia and the Pacific were estimated to total US$ 241 million, as reported by the International Diabetes Federation (IDF).
For example, Abbott Diagnostics, Pinnacle Technologies, Inc., 77 Elektronika KFT, Sanofi-Deutschland GmbH, Life Scan (Johnson & Johnson Company), Universal Biosensors, Diamontech GmbH, Medical Wireless Sensing Ltd, Medtronic MiniMed, Inc., Bayer Healthcare, DexCom Inc., Nova Biomedical Corporation, Terumo Europe NV, Arkay, Inc., and Roche Diagnostics are all major players in the global glucose sensor market.
Global Glucose Sensor Market: Taxonomy
By Product Type
- Optical Sensors
- Transdermal Sensors
- Intravenous Implantable
- Subcutaneous Sensor
- Micro dialysis
- Minimally Invasive
- Micro Pore/ Micro Needles
- MIR Spectroscopy
- Raman Spectroscopy
- (Near) Infrared Spectroscopy
- Impedance Spectroscopy
- Photo-Acoustic Spectroscopy
- Optical Coherence Tomography
- Skin Suction Blister Technique
- Reverse Iontophoresis
By End User
- Home Care Settings
- North America
- Latin America
- Middle East
- Asia Pacific
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Glucose Sensor Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Glucose Sensor Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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