Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Glucose biosensors are extensively being used for measuring concentration of glucose in diabetic patients. Proteins including nucleic acids, enzymes, and others are some of the popularly used biosensors to understand the glucose levels in a patient. The global glucose biosensors market is experiencing a growth spurt due to increasing number of diabetic patients across the globe. The World Health Organization (WHO) states that about 347 million people are diagnosed with high blood sugar levels across the globe. In light of this statistic, the organization also states that diabetes is expected to be the leading cause of death by the end of 2030. Needless to say that the increasing prevalence of diabetes in the world is likely to be the primary growth driver for the global glucose biosensors market in the near future.
Increasing incidence of diabetes across the globe is expected to be a key factor driving market growth. Diabetes is one of the most commonly occurring diseases worldwide. It is expected to be one of the leading causes of mortality all over the world.
Rising prevalence of diabetes globally is a major factor attributing towards the growth of this market. Blood glucose monitoring is being used as a necessary tool in diabetes management. As maintenance of normal blood glucose levels is important for the patients suffering from diabetes, a series of apt glucose biosensors have been developed to meet the needs of the patients suffering from this highly prevalent disorder. Furthermore, the growing demand for self-monitoring devices has augmented the use of biosensors, especially in portable forms. Glucose sensors are now available as small and minimally invasive devices that measure glucose levels even in outpatient settings.
The introduction of technological advancements is expected to play an integral role in boosting usage rates. This is evident from the development of minimal and non-invasive glucose biosensors in the market. Several companies, including small and major, players are involved in extensive R&D initiatives to develop less painful, cost-effective, more accurate, and reliable products.
For instance, NovioSense, a glucose sensor manufacturing company in the Netherlands, has developed a non-invasive sensor to monitor glucose levels in tears. However, the presence of alternative methods, such as laboratories tests, for monitoring of glucose levels in the blood are expected to hinder glucose biosensors market growth over the forecast period.
The global pandemic of Coronavirus (COVID-19) has triggered stock market instability, tight border controls, and worldwide lockdown, leading the healthcare industry, as well as large companies and governments, to restock supply chains. The whole world is experiencing severe impact on social and financial sectors, and all global industries are facing challenges during the COVID-19 pandemic. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa. North America was a lucrative region for the glucose biosensors market in 2019. North America is expected to lead the market in terms of revenue and is also anticipated to grow rapidly during the forecast period. Growing burden of diabetes is one of the key factors attributing to accelerated regional market growth. Diabetes is expected to be one of the leading causes of illness and death in the U.S. region. Asia-Pacific is projected to witness rapid growth over the forecast period.
The glucose biosensors market has been segmented on the basis of type, use, application and geography. Based on type, the market is classified into electrochemical biosensors, nanomechanical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors and others (including immuno–biosensors, conduct metric biosensor, amperometric biosensor etc). Based on use, the market is categorized into single use, intermittent use, and continuous (in vivo) sensors. On the application, the market is segmented into biodefense, food & beverages industry, home diagnostics, point of care, and research labs.
The key companies in the glucose biosensors market are Abbott Laboratories, Bayer AG, Biosensors International Group, Life Scan Inc, Lifesensors Inc., Medtronic Inc., Nova Biomedical Corp., Roche AG, Siemens AG, Sysmex Corporation, and Universal Biosensors. A number of R&D initiatives are being taken by active players in the market to capture maximum revenue and thus offer that devices which are highly precised.
The glucose biosensors market has been segmented on the basis of type, use, application and geography. Based on type, the market is classified into electrochemical biosensors, nanomechanical biosensors, optical biosensors, piezoelectric biosensors, thermal biosensors and others (including immuno–biosensors, conduct metric biosensor, amperometric biosensor etc). Based on use, the market is categorized into single use, intermittent use, and continuous (in vivo) sensors. On the application, the market is segmented into biodefense, food & beverages industry, home diagnostics, point of care, and research labs.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
