Glucose Biosensors Market Size - By Type (Continuous Glucose Monitoring, Self-monitoring Blood Glucose), By Technology (Electrochemical Biosensors, Optical Biosensors), By End-Use (Hospitals, Home Care, Diagnostic Centers & Clinics), Global Forecast, 2023-2032

Glucose Biosensors Market Size

Glucose Biosensors Market size was worth USD 12.9 billion in 2022. Driven by the increasing occurrence of diabetes globally, the industry could grow at over 13% CAGR from 2023 to 2032.
 

Growing occurrence of diabetes across the globe has increased the need for glucose biosensors for long-term management of glucose levels. As per the International Diabetes Federation, in 2022, nearly 8.75 million people had diabetes, of which 1.52 million were below 20 years. Moreover, the surging demand for self-monitoring devices (SMBG) is presenting growth pathways to the industry. Owing to high accuracy and affordability, these devices have gained immense traction among women suffering from gestational diabetes, propelling their demand in the long run.
 

COVID-19 Impact

The COVID-19 pandemic had a negative impact on the glucose biosensors market due to supply chain upheavals caused by prolonged lockdowns. Additionally, the pandemic paused new product launches for recently approved products. However, in the post-pandemic era, the sales of glucose biosensors were restored to normalcy as diabetic people are highly susceptible to COVID-19 infection. Growing government investment in diabetes management devices will further aid industry growth.
 

Glucose Biosensors Market Trends

Recent advancements in glucose biosensors will generate lucrative opportunities for industry growth. Non-invasive glucose monitoring devices are now being developed to eliminate the need for frequent finger pricking and provide continuous glucose monitoring. Technologies, including optical sensors, spectroscopy, and transdermal patches, have gained immense traction in this field. Additionally, continuous glucose monitoring systems, which provide real-time glucose data and can alert users about high or low glucose levels, have gained popularity, further contributing to market revenue.
 

Glucose Biosensors Market Analysis

Based on the type, glucose biosensors market size from the SMBG (self monitoring blood glucose) segment was valued at more than USD 6 billion in 2022. Rising awareness about diabetes risks, associated complications, management, and control is leading to segment progress. Convenience and personalization offered by self monitoring blood glucose devices also favor their adoption. By regularly monitoring and recording glucose levels using these devices, users can identify patterns, such as glucose fluctuations at specific times of the day or in response to certain foods or activities.
 

Based on the end-use, glucose biosensors market share from the home care segment will grow at over 14% CAGR from 2023 to 2032. Surging number of women suffering from gestational diabetes has increased the need for glucose biosensors in home care settings. As per the CDC, gestational diabetes is diagnosed in around 2-10% of all pregnancies every year in the U.S. alone. Glucose biosensors allow the convenience of testing blood glucose levels at home. Users can perform tests at their preferred time and location without the need to visit a healthcare facility.
 

From the regional viewpoint, North America glucose biosensors market size will reach over USD 11.7 billion by 2032. Surging investment by the government in diabetes care is positively affecting the regional outlook. In January 2023, U.S. Senator Susan Collins announced an investment of around USD 2.4 billion for diabetes research. Moreover, the surging prevalence of diabetes coupled with the well-established healthcare infrastructure is contributing to regional growth.
 

Glucose Biosensors Market Share

• Nova Biomedical
• Universal Biosensors
• Med Trust
• Roche AG
• Lifescan, Inc.
• Taidoc Technology Corporation
• Dexcom
• Ascensia Diabetes Care Holdings AG. (Senseonics, Inc.)
   

Glucose Biosensors Market News:

• In May 2023, Medtronic, a leader in healthcare technology, announced its intent to acquire EOFlow Co. Ltd., a manufacturer of EOPatch® device, a wearable, tubeless, and disposable insulin delivery device. This deal will expand the company’s ability to cater to more people with diabetes.
   
• In March 2022, Dexcom, a continuous glucose monitoring systems manufacturer, secured CE Mark for its Dexcom G7 Continuous Glucose Monitoring System for diabetic patients. The device features advanced alert settings and a 30-minute sensor warm-up procedure and is 60% smaller than the previous model. The company aims to launch the product in the European market with a modified CGM algorithm and advanced CGM sensor.
   

The Glucose Biosensors market report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD million from 2018 to 2032 for the following segments:

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Market Size, By Type

• CGM (Continuous Glucose Monitoring)
• SMBG (Self-monitoring Blood Glucose)

Market Size, By Technology

• Electrochemical Biosensors
• Optical Biosensors

Market Size, By End-use

• Hospitals
• Home healthcare
• Diagnostic centers & clinics
• Others

The above information is provided for the following regions and countries (USD Million):

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • The Netherlands
  • Denmark
  • Switzerland
  • Sweden
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • New Zealand
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Turkey