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Glucose Biosensors Market Size

Report ID: GMI5300
Published Date: Jul 2023
Report Format: PDF

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Glucose Biosensors Market Size

Glucose Biosensors Market size was worth USD 12.9 billion in 2022. Driven by the increasing occurrence of diabetes globally, the industry could grow at over 13% CAGR from 2023 to 2032.

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Growing occurrence of diabetes across the globe has increased the need for glucose biosensors for long-term management of glucose levels. As per the International Diabetes Federation, in 2022, nearly 8.75 million people had diabetes, of which 1.52 million were below 20 years. Moreover, the surging demand for self-monitoring devices (SMBG) is presenting growth pathways to the industry. Owing to high accuracy and affordability, these devices have gained immense traction among women suffering from gestational diabetes, propelling their demand in the long run.

Glucose Biosensors Market Report Attributes
Report Attribute	Details
Base Year:	2022
Glucose Biosensors Market Size in 2022:	USD 12.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	13.3%
2032 Value Projection:	USD 40 Billion
Historical Data for:	2018 to 2022
No. of Pages:	182
Tables, Charts & Figures:	280
Segments covered:	Type, Technology, End-use, and Region
Growth Drivers:	Increasing number of patients suffering from diabetes across the world Rising demand for self-monitoring devices globally Increasing government initiatives to generate awareness regarding diabetes Technological advancements in glucose biosensor devices
Pitfalls & Challenges:	High cost of glucose biosensors devices Stringent regulatory scenario

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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

In 2022, the glucose biosensors industry was valued at USD 12.9 billion and will grow at more than 13% CAGR from 2023 to 2032, attributed to the rising incidence of diabetes globally.

Self monitoring blood glucose devices industry was valued at over USD 6 billion in 2022, owing to surging awareness about diabetes risks, its complications, management, and control.

North America glucose biosensors market size will reach more than USD 11.7 billion by 2032, owing to rising investment by the government in diabetes care.

Major glucose biosensors industry players include Lifescan, Inc., Nova Biomedical, Taidoc Technology Corporation, Dexcom, Abbott, Trividia Health, Universal Biosensors, Med Trust, Roche AG., and i-SENS, Inc., among others.