Glucose Biosensors Market Size, Share, By Type (Continuous Glucose Monitoring, and Self-monitoring Blood Glucose), By Technology (Electrochemical Biosensors, Optical Biosensors, and Others), By End User (Hospitals, Homecare, and Diagnostic Center), and By Region - Trends, Analysis and Forecast till 2034

• In 2023, glucose biosensors market was estimated to be worth USD 11.8 Billion.
• By 2034, the target market is expected to grow to USD 24.3 Billion.
• Target market is expanding at a CAGR of 8.3%

Market Overview:

Glucose Biosensors Market is driven by increasing cases of diabetes throughout the world, increasing awareness about self-monitoring of blood glucose level. In addition, growing demand for self-monitoring devices, increasing adoption of telemedicine and digital health platforms are another factors propelling growth of the global market. Furthermore, technological advancements in biosensor technology is also anticipated to create opportunities for growth of the global market over the forecast period.

Key Takeaways:

• North America held the largest share of the market in 2024.
• Asia Pacific is projected to be the fastest-growing market in the coming years.
• By type, self-monitoring blood glucose segment holds the largest share of the targeted market.
• By technology, electrochemical biosensors dominate the target market growth.
• By end user, hospitals dominate the target market growth.

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Key Drivers of Target Market:

Widespread Usage of Glucose Biosensors

Owing to advances in various scientific fields, biosensors for blood glucose analysis have different advantages, such as selectivity, measurement accuracy, response time, sensor stability duration, etc.

Restrains:

Requirement of High Potential  

The main problem with the first-generation of glucose biosensors was that the amperometric measurement of hydrogen peroxide required a high operation potential for high selectivity.

Opportunities:

New innovations and Technological Advancements

• The biosensors sector has undergone a radical transformation in recent years due to new innovations and technological advancements. A variety of technologies used to detect glucose level such as Optical Sensors, Fluorescence Optical Sensors, Micro dialysis, etc.
• For instance, in February 2023, according to the article published by John Wiley & Sons, Inc., Artificial intelligence (AI) algorithms in combination with continuous monitoring technologies have the potential to revolutionize chronic disease management

The market is segmented based on Type, Technology, End User, and Region.

Type Insights:

On the basis of type glucose biosensors market is segmented into Continuous Glucose Monitoring, Self-monitoring Blood Glucose. Self-monitoring blood glucose segment holds the largest share of the targeted market.

For Instance, in November 2021, According International Diabetes Federation (IDF) estimates, approximately 537 million adults (aged between 20 and 79) live with DM. This figure is projected to rise to 783 million by 2045, with the most significant increase in Africa

Technology Insights:

The glucose biosensors market by Technology is segmented into Electrochemical Biosensors, Optical Biosensors, and Others. Electrochemical Biosensors dominate the target market growth due to accuracy, sensitivity, as well as low cost. 

End User Insights:

The glucose biosensors market by end user is segmented into Hospitals, Homecare, and Diagnostic Center. Hospitals dominate the target market growth due to increasing investment, adoption of advance technologies, rising demand, etc.

Regional Insights

North America: This region is expected to dominate the growth of the market during forecast period due to increasing technological innovations in healthcare sector, development in advance glucose monitoring devices, rising health related issues such as obesity, etc.

Asia Pacific: This region is considered to be the fastest growing region in the target market due to increases diabetes cases, changes in dietary habits, increasing adoption of glucose biosensors, technological advancements, etc.  

Glucose Biosensors Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels, analyzing industry trends and opportunities across sub-segments from 2024 to 2034. It segments the market by Type, Technology, End User, and Region.

Segmentation:

By Type:

• Continuous Glucose Monitoring
• Self-monitoring Blood Glucose

By Technology:

• Electrochemical Biosensors
• Optical Biosensors
• Others

By End User:  

• Hospitals
• Homecare
• Diagnostic Center

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the Glucose Biosensors Market Include Abbott, Dexcom, Inc., F. Hoffmann-La Roche Ltd., PalmSens, Biolinq Incorporated, Medtronic Pvt. Ltd., Ascensia Diabetes Care Holdings AG, Nova Diabetes Care, Sanofi, Trividia Health Inc., Bayer, LifeScan IP Holdings, LLC., and Nutrix AG.

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• In August 2024, DexCom, Inc., the global leader in real-time continuous glucose monitoring for people with diabetes, announced that Stelo, the first over-the-counter glucose biosensor in the U.S., is now available for purchase without a prescription at Stelo.com.
• In June 2024, Researchers at Nano Life Science Institute, Kanazawa University report in Biosensors and Bioelectronics: X a novel approach for detecting a particular biomolecule associated with several diseases. The results show good sensitivity and selectivity, and may lead to the development of a low-cost, rapid detection device useful in cancer prognosis.
• In September 2019, Sanofi and Abbott are partnering to integrate glucose sensing and insulin delivery technologies that would help to further simplify how people with diabetes manage their condition. The two companies will take an innovative approach to connected care by developing tools that combine the revolutionary FreeStyle Libre technology with insulin dosing information for future smart pens, insulin titration apps and cloud software.

Analyst View:

The industry for bath and market is placed for substantial growth due to increasing cases of diabetes throughout the world, increasing awareness about self-monitoring of blood glucose level, growing demand for self-monitoring devices, increasing adoption of telemedicine and digital health platforms. New innovations and development, advance technologies as well as many collaborations and partnerships helps to boost the growth of the market in upcoming years.

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• Abbott
• Dexcom, Inc.
• F. Hoffmann-La Roche Ltd.
• PalmSens
• Biolinq Incorporated
• Medtronic Pvt. Ltd.
• Ascensia Diabetes Care Holdings AG
• Nova Diabetes Care
• Sanofi
• Trividia Health Inc.
• Bayer
• LifeScan IP Holdings, LLC.
• Nutrix AG.