Glucose Biosensors Market Analysis

Glucose Biosensors Market Analysis

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Based on the type, glucose biosensors market size from the SMBG (self monitoring blood glucose) segment was valued at more than USD 6 billion in 2022. Rising awareness about diabetes risks, associated complications, management, and control is leading to segment progress. Convenience and personalization offered by self monitoring blood glucose devices also favor their adoption. By regularly monitoring and recording glucose levels using these devices, users can identify patterns, such as glucose fluctuations at specific times of the day or in response to certain foods or activities.
 

Based on the end-use, glucose biosensors market share from the home care segment will grow at over 14% CAGR from 2023 to 2032. Surging number of women suffering from gestational diabetes has increased the need for glucose biosensors in home care settings. As per the CDC, gestational diabetes is diagnosed in around 2-10% of all pregnancies every year in the U.S. alone. Glucose biosensors allow the convenience of testing blood glucose levels at home. Users can perform tests at their preferred time and location without the need to visit a healthcare facility.
 

From the regional viewpoint, North America glucose biosensors market size will reach over USD 11.7 billion by 2032. Surging investment by the government in diabetes care is positively affecting the regional outlook. In January 2023, U.S. Senator Susan Collins announced an investment of around USD 2.4 billion for diabetes research. Moreover, the surging prevalence of diabetes coupled with the well-established healthcare infrastructure is contributing to regional growth.