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The global prevalence of diabetes is increasing at an alarming rate, and so is the need for continuous monitoring of blood glucose levels. Continuous monitoring of blood glucose is an effective tool for the management and prevention of diabetes-related complications. Non-invasive blood glucose monitoring refers to the process of measurement or monitoring of blood glucose levels excluding the need for drawing blood or puncturing the skin. The conventional method for monitoring blood glucose levels involved blood sampling which was painful. Hence numerous developments have been made which is expected to boost non-invasive blood glucose monitoring industry. For example, DiaMonTech GmbH, in September 2018, launched a shoebox-sized device that can give the blood glucose level by looking into the skin using an infrared light beam. The same company is about to launch a pocket-sized device for personal use by the end of 2019 and a wearable band with data loggings and alarm functions to monitor glucose level by 2021.
Key Market Driver -
Increase in prevalence of diabetes and rapid adoption of remote patient monitoring devices
Key Market Restraint -
Issues concerned with reliability and accuracy of the non-invasive blood glucose monitoring devices
Global non-invasive blood glucose monitoring market growth is being driven by the increasing prevalence of diabetes, the rise in the aging population, active adoption to a sedentary lifestyle, and technological advancements in non-invasive blood glucose monitoring. According to International Diabetes Federation, in 2017, nearly 425 million adults were having diabetes across the globe, and it is expected to rise to 629 million by 2045, which is anticipated to fuel the demand for non-invasive blood glucose monitoring devices. Launch and rapid uptake of remote patient monitoring devices are also major factors that are expected to accelerate the blood glucose monitoring market growth.
However, issues concerned with the reliability and accuracy of the non-invasive blood glucose monitoring devices are the factors inhibiting the growth of the global non-invasive blood glucose monitoring market.
The major companies covered in the global non-invasive blood glucose monitoring market report include DiaMonTech GmbH, Medtronic, Dexcom, Inc., Life Plus, Pendragon Medical Inc., LifeScan, Inc., Light Touch Medical Inc., Solianis Monitoring AG, Freedom Meditech, Inc., OrSense and other players.
As per the current non-invasive blood glucose monitoring market trends, wearable blood glucose monitoring systems belonging to the modality segment are anticipated to account for the maximum market share in the global non-invasive blood glucose monitoring market owing to the rapid adoption of portable and remote monitoring devices, new product launch, and easy access of health data to physicians
The global non-invasive blood glucose monitoring market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the global non-invasive blood glucose monitoring market over the forecast period owing to the rapid adoption of new technologies and increasing demand for wearable devices. In Europe, the non-invasive blood glucose monitoring market is projected to expand in the forecast duration which can be attributed rapid adoption of sedentary lifestyles, active government support, and the increasing number of start-ups. For example, MediWise is a U.K. based start-up company that is developing a device named Glucowise having a pain-free sensor and cloud-based data management system, which is expected to fuel the market in Europe.
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Asia Pacific is anticipated to register remarkable growth in the global non-invasive blood glucose monitoring market during the forecast period owing to the rising prevalence of diabetes, increasing geriatric population and the emerging need for continuous monitoring devices. The growth in the non-invasive blood glucose monitoring market in Latin America is likely to propel owing to the public medical camps for diabetes and increasing awareness about diabetes. Non-invasive blood glucose monitoring market in Middle East and Africa is in the nascent stage; however, unmet needs for diabetes and improving health reforms is expected to drive the market growth in this region.
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