Global Glucose Biosensor Market is expected to reach USD 31.0
billion by 2022, according to a new report by Grand View Research Inc. The
global Glucose Biosensor Market is anticipated to witness lucrative growth
during the period of 2015 to 2022.
Some key factors attributing to the growth of this market
include the increasing incidence of diabetes across the globe, development of
technologically advanced products, growing demand for minimally and
non-invasive products, patient awareness levels, and the need for early
diabetes detection. However, presence of other alternatives for management of
the diabetes, such as laboratory methods is expected to restrict market
growth.
The glucose biosensors industry by end-use is segmented on
the basis of its use in hospitals, homecare diagnostics, and others including
research institutes, diagnostics, and clinical laboratories. The homecare
diagnostics Glucose Biosensor Market is projected to flourish over the forecast
period. Ease-of-use, quick results, and low costs of the tests are some aspects
supporting market growth. On the other hand, the hospital-based Glucose
Biosensor Market is projected to grow at a significant CAGR of 10.3% during the
period 2015 to 2022.
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Further key findings from the study suggest:
- North America led the market, in terms of value, with a share of about 37% in 2015. High disease burden and the subsequent need to curb associated healthcare expenditure in the U.S., has resulted in this country account for a large revenue share of the North American market in 2014. According to the Centers of Disease Control (CDC), around 22.3 million people in the U.S. were estimated to be diagnosed with diabetes in the year 2013.
- Asia Pacific is anticipated to witness lucrative growth during the forecast period. This market is projected to grow rapidly during the period 2015 to 2022. China and India are expected to spearhead market growth in this region.
- The homecare diagnostics Glucose Biosensor Market was the largest in 2014. The segment is anticipated to grow at a rapid CAGR during the forecast period. As of 2015, the market was led by North America owing to the region's highest disease burden and homecare diagnostics adoption rates.
- The Glucose Biosensor Market comprises several local as well as global players. Some major players of this industry include Roche, Bayer and LifeScan, Inc..
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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