PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299755
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299755
Non-invasive glucose meter market size was valued at USD 190.8 million in 2022, expanding at a CAGR of 18.2% from 2023 to 2030.
Non-Invasive Glucose Meters are devices used to measure the levels of glucose in the blood without causing pain & trauma, pricking the skin, and drawing blood. Additionally, it helps to provide information for diabetic management and the impact of diabetic medication on the glucose level, allowing you to identify whether the blood glucose level is low or high. Moreover, these devices are gaining track among geriatric and pediatric populations driven by their painless and non-invasive monitoring process.
The factor that propels the demand for the non-invasive glucose meter market is the rise in the count of people suffering from diabetes. Additionally, the integration of monitoring & therapeutic features and technological advancements in smart insulin pens are expected to boom the market growth over the forecast period. However, the price of raw material in medical devices has increased in recent years which are expected to restrain the market growth of non-invasive glucose meter.
Moreover, AI and big data analytics are revolutionizing digital diabetes management. The market is expected to grow as new and efficient diabetic management technologies become available for better diabetes control. The COVID-19 has increased the growth of the non-invasive glucose meter market. Patients with severe lung infections admitted to hospitals required blood glucose control. This in turn increases the demand for a non-invasive glucose meter.
The global non-invasive glucose meter market is segmented on the basis of product type, technology, end-user, and region.
The market is divided into two categories based on product type: wearable and handheld. The wearable sector is expected to dominate the market as new technological advancements are introduced.
The market is divided into five categories based on technology: near-infrared spectroscopy (nirs), Raman spectroscopy, photo-acoustic spectroscopy (pa), optical coherence tomography (oct), mid-infrared spectroscopy (mid-IRS), and others. The Raman spectroscopy sector is likely to maintain its dominance during the forecast period due to the cost-effective and precise monitoring benefits. Additionally, it is a non-contacting and non-destructing technique that includes the interaction of light with chemical bonds.
The market is divided into three categories based on end-user: healthcare providers, home healthcare settings, and research institutes. The homecare healthcare setting sector is expected to hold the largest market share. These devices not needed any expertise, easy to use, and increasing the use of continuous self-monitoring of blood glucose.
Growing activities and R&D investment leading to the innovation of cost-effective and advanced products will likely impact the market positively. Additionally, the continuous demand for non-invasive continuous glucose monitors for diabetic patients globally has made local and international producers one of the competitive industries. Key players are constantly focusing on mergers & acquisitions, collaborations, partnerships, and new product launches to enhance their market growth. For instance, in March 2022, DexCom, Inc. the global leader in real-time continuous glucose monitoring (CGM) for people with diabetes announced that the FDA has granted Breakthrough Device Designation for Dexcom CGM require use in hospitals Breakthrough Device Designation.
This proposed research study on non-invasive glucose meter market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for non-invasive glucose meter market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the non-invasive glucose meter market.
Impact of COVID-19 on non-invasive glucose meter market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on non-invasive glucose meter market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the non-invasive glucose meter market, we have also included competitive landscape and key innovator analysis for the Non-invasive Glucose Meter market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offersdetailed company profiling featuring major market participantswhich will help users to understand their financial information and strategic initiatives of players operating in the non-invasive glucose meter market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global non-invasive glucose meter market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
The scope of this report covers the market by its major segments, which include as follows: