Diabetes is a chronic disease that affects more than 8.5% of the global population. Monitoring the blood glucose levels on a regular basis is necessary to manage diabetes progression.
Non-invasive Blood Glucose Monitoring Devices Market: Introduction
Diabetes is a chronic disease that affects more than 8.5% of the global population. Monitoring the blood glucose levels (BGLs) on a regular basis is necessary to manage diabetes progression. Non-invasive blood glucose monitoring devices use painless procedure for continuous tracking of a patient’s glucose level. Increase in demand for smart diabetes management devices due to the technologically advanced features is anticipated to drive the market.
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Key Drivers and Restraints of Global Non-invasive Blood Glucose Monitoring Devices Market
Diabetes has evolved as one of the principal health care epidemics of the modern era. Prevalence of diabetes is rising due to change in lifestyle, environmental factors, and genetic mutation. Moreover, obesity is a key risk factor for diabetes. According to the American Diabetes Association, an estimated 30.3 million people in the U.S. had diabetes in 2015; among these 1.25 million were children. According to the British Diabetic Association operating as Diabetes UK, 3.8 million people were diagnosed with diabetes in the U.K. in 2019. According to Diabetes U.K., 382 million adults across the globe aged between 20 and 79 had diabetes in 2012. This number is expected to reach 592 million by 2035. An estimated 175 million people are undiagnosed with type 2 diabetes. Prevalence of diabetes is variable and is expected to increase in the near future.
Continuous advancement in technologies also boosts market growth. Researchers are focusing on electromagnetism (EM) as a leading technology to achieve non-invasive and continuous glucose monitoring. Launch of new products also fuels the growth of the global market. In January 2020, Integrity Applications, Inc. received CE Mark approval for a major enhancement to GlucoTrack, allowing users to perform the calibration process by themselves, without the need of a certified calibrator.
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Non-invasive glucose monitoring devices are based on various technologies, which detect characterization of the biological properties of the skin or biological fluids. The accuracy offered by these types of product is not close to that of minimally invasive CGM devices under uncontrolled conditions. This factor is likely to hamper the growth of the global market.
Spectroscopy to Dominate Global Non-invasive Blood Glucose Monitoring Devices Market
In terms of technology, the global non-invasive blood glucose monitoring devices market can be divided into spectroscopy, microwave/RF sensing, electromagnetic, thermal, ultrasonic and others
Spectroscopy technology-based devices dominated the global market in terms of revenue in 2019. The technology is based on the direct effect of glucose on the scattering properties of the organ. Diabetes and its complications impose significant economic consequences on individuals, families, health systems, and countries. This non-invasive process is fast, painless, and cost-effective. OrSense’s NBM device is based on occlusion spectroscopy, which is a proprietary technology aimed toward assuring accurate, convenient, and affordable glucose monitoring.
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Wearable to Lead Global Non-invasive Blood Glucose Monitoring Devices Market
Based on modality, the global non-invasive blood glucose monitoring devices market can be bifurcated into wearable and non-wearable/table-top
The wearable segment dominated the global market in terms of revenue in 2019. Requirement of painless, needle-free, and continuous glucose monitoring sensors to enhance the quality of life of diabetic patients is a major factor driving the segment. AerBetic manufactures a non-invasive wearable diabetes monitor that continuously provides blood sugar levels. It also comes with an application that allows a user to set up alerts in order to communicate to a network of health care providers.
Home Care Segment to Witness Significant Growth
In terms of end user, the global non-invasive blood glucose monitoring devices market can be categorized into hospitals, home care, and clinics
The home care segment held the largest share of the global market in 2019. Advancements in mobile health & connected devices, remote patient monitoring, and telehealth augment the self/home health care management of diabetes. Additionally, preference for treatment of diabetes at home is likely to propel the segment. Inclination toward self-management devices is a key factor projected to drive the segment.
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North America to Dominate Global Non-invasive Blood Glucose Monitoring Devices Market
In terms of region, the global non-invasive blood glucose monitoring devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
In terms of revenue, North America dominated the global non-invasive blood glucose monitoring devices market in 2019, followed by Europe. High prevalence of diseases and well-established health care infrastructure that enables proper diagnosis are attributed to the region’s large market share. According to the American Diabetes Association, in 2018, 34.2 million people in the U.S., or 10.5% of the population, had diabetes. Moreover, 1.6 million people have type 1 diabetes, including about 187,000 children and adolescents.
However, the market in Asia Pacific is expected to grow at a rapid pace during the forecast period primarily due to rise in prevalence of diabetes and increase in awareness about diagnosis & treatment. Majority of countries in Asia Pacific are economically developing and a number of players are making significant investments in the region. These factors boost the growth of the market in Asia Pacific. According to the International Diabetes Federation (IDF), prevalence of diabetes has increased in developing countries due to rapid and ongoing socioeconomic transition and it is likely to rise further.
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Key Players Operating in Market
The global non-invasive blood glucose monitoring devices market was highly fragmented in 2019. Key players operating in the global market are:
- DiaMonTech GmbH
- Nemaura Medical, Inc.
- Integrity Applications, Inc.
- CNOGA Medical Ltd.
- Breath Health, Inc.
- Metamaterial Technologies, Inc.
- Opticology, Inc.
- NovioSense BV
- Quick LLC
- RSP Systems A/S
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