Global Non-Invasive Glucose Monitoring Market Overview
Non-invasive glucose monitoring system is a medical device that has the ability to measure the blood glucose of diabetes patients without the need to prick the skin and draw blood. The increasing prevalence of diabetes and the rising awareness of diabetes-related complications are driving the market growth. Further, these devices can enable early detection of blood sugar fluctuations without causing discomfort, thereby contributing to their market demand. Moreover, the growing elderly population, the rise in innovative product launches, and the supportive regulatory policies that expedite the entry of novel devices are anticipated to influence the non-invasive glucose monitoring market dynamics.
Key Findings
- Recent data indicates that the proportion of adults affected by diabetes increases with age, reaching 29.2% in people aged 65 years or above. The growing elderly population is a significant driver of the market demand for non-invasive glucose monitoring devices.
- In February 2024, Know Labs, Inc., a United States-based medical device company specializing in non-invasive health monitoring systems, announced the release of its wearable non-invasive continuous glucose monitoring device called KnowU equipped with on-board computing power and built-in machine learning capabilities. The rising innovative product launches are anticipated to aid in market expansion.
- The rising focus on user experience, advancements in sensor technology, and integration with artificial intelligence are some of the factors poised to elevate the market value in the forecast period.
Global Non-Invasive Glucose Monitoring Market Demand Drivers
According to the IDF (International Diabetes Federation) Diabetes Atlas, around 783 million people, or 1in 8 adults are projected to live with diabetes by 2045. Further, type 2 diabetes occurs in more than 90% of people having diabetes. The increasing prevalence of diabetes, propelled by factors such as the growing elderly population, sedentary lifestyle, and rising obesity rates, is poised to boost the demand for convenient glucose monitoring solutions including non-invasive glucose monitoring devices.
Global Non-Invasive Glucose Monitoring Market Segmentation Analysis
The Application Segment is Poised to Witness Significant Market Growth in the Forecast Period
Based on the application, the market segmentation includes hypoglycemia and diabetic foot ulcer tracking, among others. Hypoglycemia or low blood sugar is a common condition linked with diabetes, especially among people undergoing insulin therapy. Non-invasive glucose monitors help in real-time tracking of blood glucose levels, thereby aiding in the prevention of hypoglycemia episodes. The increasing number of cases of type 1 diabetes and the rising demand for real-time glucose tracking are likely to support the growth of this segment.
The market report also offers insights based on product type, end-user, and region.
Global Non-Invasive Glucose Monitoring Market: Competitive Landscape
- In July 2024, medical device company Afon Technology Ltd reported that they are developing a completely non-invasive, real-time, continuous blood glucose monitor called Glucowear that eliminates the need for traditional finger pricking and subcutaneous sensor needles. Following rigorous testing and trials, the company plans to sell the device in the United Kingdom in the near future.
- In January 2024, technology giant Samsung Electronics revealed that it is working towards developing non-invasive blood glucose monitoring systems that are likely to be integrated into its wearable devices such as Galaxy Watch and Galaxy Ring.
- Other players involved in the market include Abbott Laboratories, PHC Holdings Corporation, Sanofi SA, Dexcom, Inc., DarioHealth Corp., Medtronic Plc., B. Braun SE, F. Hoffmann-La Roche Ltd, Insulet Corporation, Tandem Diabetes Care Inc., AgaMatrix Inc., and Ascensia Diabetes Care Holdings AG.
Global Non-Invasive Glucose Monitoring Market Analysis by Region
North America is Projected to Lead the Market Share
The market report offers insight into various geographical locations, including North America, Europe, Asia Pacific, Latin America along with Middle East and Africa. North America dominates the market share owing to the high prevalence and incidence of diabetes and the rapid adoption of innovative medical technologies. The market also benefits from the presence of key market players and a well-established healthcare infrastructure. Further, favorable government initiatives supporting diabetes management and the rising preference for non-invasive solutions to track blood glucose levels are anticipated to aid the market growth in the region.
Key Offerings of the Report
- The EMR report gives an overview of the global market for non-invasive glucose monitoring for the time span of (2017-2023) and (2024-2032).
- The report also offers historical (2017-2023) and forecast (2024-2032) market information for the product type, application, end-user, and region of the global market.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
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