Seattle, Washington May 6, 2019 (Issuewire.com) - Global Non-Invasive Blood Glucose Monitoring Devices Market, By Technology (Optical, Transdermal, Enzymatic, and Others), By Modality (Wearable, and Non-wearable), By End-User (Hospitals, Home Care Settings, and Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5.1 million in 2017, and is projected to exhibit a CAGR of 35.0% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.
Rising prevalence and incidence of diabetes worldwide, along with increasing research and development (R&D) activities by various key players in the market to develop and launch innovative and cost-effective devices is expected to boost the growth of the non-invasive blood glucose monitoring market in the near future. For instance, according to International Diabetes Federation (IDF) Diabetes Atlas: 2017, in 2017, the number of people with diabetes worldwide aged between 20 to 79 years was 425 million, which is estimated to increase by 48% in 2045, accounting for 629 million.
Furthermore, inorganic growth strategies adopted by key players to gain a competitive edge in the market is expected to drive the growth of the market. In July 2018, Metamaterial Technologies Inc. acquired Medical Wireless Sensing Ltd. (MediWiSe). MediWiSe is a medical research and development company that focuses on developing wireless devices in medical diagnostics and monitoring. MediWiSe has made significant advancements in non-invasive glucose monitoring and is working towards developing a new product called Glucowise.
Browse 22 Market Data Tables and 17 Figures spread through 163 Pages and in-depth TOC on "Global Non-Invasive Blood Glucose Monitoring Devices Market, By Technology (Optical, Transdermal, Enzymatic, and Others), By Modality (Wearable, and Non-wearable), By End-User (Hospitals, Home Care Settings, and Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Non-invasive glucose monitoring can achieve painless, risk-free, low-cost and frequent testing of glucose, which is an ideal method for self-monitoring of glucose. Non-invasive glucose tests majorly include the reverse iontophoresis method, optics-related method, metabolic heat conformation method, and bio-impedance spectroscopy method among others.
Moreover, due to the complexity of human body composition and physiological processes, no single non-invasive method can achieve reliable test results alone. Therefore, researchers are conducting studies on the integration of multiple methods, which have become a major trend for research on non-invasive glucose monitoring.
Key players in the market are developing non-invasive devices, which integrate more than two detection methods. For instance, Glucotrack, a non-invasive intermittent glucose monitoring device for home-use, uses a combination of three technologies (ultrasonic, electromagnetic, and thermal) with a unique algorithm to weigh each measurement and calculate the weighted average of the three readings.
Key Takeaways of the Non-Invasive Blood Glucose Monitoring Devices Market:
- The global non-invasive blood glucose monitoring devices market is expected to expand at a CAGR of 35.0% during the forecast period (2018 – 2026), owing to increasing usage of glucose monitors by diabetic patients.
- Among modality, the non-wearable segment is expected to hold the major market share in 2026. Increasing research and development (R&D) activities by key players, combined with growing investor funding to back the research is expected to drive the growth of the non-wearable segment in global non-invasive blood glucose monitoring devices market.
- Major players operating in the global non-invasive blood glucose monitoring devices market include DiaMonTech GmbH, Nemaura Medical Inc., Integrity Applications, Inc., CNOGA Medical Ltd., Breath Health, Inc., Metamaterial Technologies Inc., Opticology Inc., NovioSense BV, Quick LLC, and RSP Systems A/S.
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