The increasing number of regulatory approvals for novel non-invasive biosensors is expected to be a major factor that is expected to drive growth of the non-invasive biosensors market over the forecast period. For instance, Integrity Applications Inc. received CE marking for its new GlucoTrack DF-F device, a non-invasive blood glucose monitoring device, in 2013. In 2015, Integrity Applications Inc. again received CE approval for its improved version of GlucoTrack DF-F device. The new improved version of GlucoTrack DF-F device has reduced the procedure time from two and half hours to just thirty minutes. Moreover, in 2016, CNOGA Medical Ltd. received approval from Brazilian National Health Surveillance Agency (ANVISA – Agência Nacional de Vigilância Sanitária) to market its new TensorTip COG non-invasive combo Glucometer device in Brazil.
Browse 42 Market Data Tables and 38 Figures spread through 173 Pages and in-depth TOC on Non-invasive Biosensors Market by Technology, (Optical, Transdermal, Thermal, and Others), by Product Type (Glucose Monitors, Blood Analytes Monitors, Breathalyzers, and Others), by End User (Hospitals, Diagnostic Lab, Homecare Settings, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027
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The increasing R&D activities by key players, in order to gain approval for novel non-invasive biosensors and increasing presence of products in pipeline are the factors that are further expected to drive growth of the market over the forecast period. For instance, in 2017. Mclean Hospital announced about its LabPatch-alcohol, which is a non-invasive skin patch to detect blood alcohol concentrations was in clinical trial.
Moreover, key players in the market are focusing on collaborations and partnerships for distribution of their novel non-invasive biosensors globally. For instance, Integrity Applications Inc. entered into a distribution partnership with MediReva B.V, in 2017. Under the partnership, MediReva B.V. will market Integrity Applications Inc.’s GlucoTrack in the Netherlands. Such strategic collaborations is expected to drive the market growth over the forecast period.
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Key Takeaways of the Global Non-invasive Biosensors Market:
- The global non-invasive biosensors market is expected to exhibit a CAGR of 12.1% over the forecast period (2018-2026). This is attributed to rising number of regulatory approvals of novel non-invasive biosensors. For instance, in 2013, GlucoTrack DF-F received CE marking.
- Among regions, Europe is expected to witness significant growth over the forecast period. This is attributed to increasing regulatory approvals of novel non-invasive biosensors by European Union. For instance, an improved version of GlucoTrack DF-F received CE marking, in 2015.
- Asia Pacific is also expected to exhibit significant growth in the global non-invasive biosensor market, attributed to rising prevalence of diabetes in the region, which is expected to drive demand for novel diagnosis methods such as non-invasive glucometers. For instance, according to the Indian Diabetes Research Foundation, 2016, around 60% of the global population suffering from diabetes lives in Asia pacific, with around one-half in China and India combined. Moreover, it states that Western Pacific reported over 138.2 million people suffered from diabetes in 2016, and the number h is expected to rise to 201.8 million by 2035.
- Key players operating in the non-invasive biosensors market include Nemaura Medical, Inc., MediWise Ltd., Integrity Applications Inc., OrSense, Medtronic Plc, GE Healthcare, Philips Healthcare, Akers Biosciences, Inc., and Abbott Laboratories
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