Non-Invasive Glucose Monitoring Devices Market Size is predicted to register substantial progression from 2022 to 2028. Increasing health awareness among people, leading to an upsurge in demand for regular and remote monitoring of patients, and inflating healthcare expenditure will push the market outlook in the forthcoming years.
The prevalence of lifestyle diseases like diabetes due to unhealthy dietary habits and changing lifestyles is likely to foster the industry expansion over the analysis timeframe. As per the International Diabetes Federation report 2021, around 534 million adults all across the globe are living with diabetes, and the number may further rise to 643 million by 2030.
Non-invasive glucose monitoring devices are generally intended for people with diabetes mellitus and monitor a patient's blood glucose levels without pricking the skin, drawing blood, or causing trauma or pain. These devices are gaining traction among the pediatric and geriatric population driven by their non-invasive and painless monitoring process. Moreover, growing R&D investment and activities leading to the innovation of advanced and cost-effective products will augment the industry outlook in the foreseeable future.
With respect to the technology, Raman spectroscopy is likely to drive lucrative growth opportunities to the non-invasive glucose monitoring devices market owing to the precise monitoring and cost-effective benefits it offers. It is a non-destructing and non-contacting technique that involves the interaction of light with chemical bonds within a matter. Also, it requires no sample preparation and is highly sensitive to changes in the material structure.
Wearable Blood Glucose Monitoring Systems are expected to exhibit a substantial growth rate over the prediction timeframe driven by the proliferating demand for non-invasive continuous glucose monitoring devices. These devices offer detailed glucose data, accurate CGM, blood-free readings, extra features on a budget, and may further support industry expansion.
Home care settings are likely to register decent progression over the forecast timeframe owing to the growing requirement of continuous self-monitoring of blood glucose. These devices are easy to use and do not require any expertise and thus eliminating the hassle of hospital visits.
With regards to the regional landscape, Asia Pacific non-invasive glucose monitoring devices market may experience significant expansion in the years ahead driven by an upsurge in the diabetic population and improving healthcare infrastructure in the region. Furthermore, increasing R&D investment by major industry players for new and improved product innovation will further boost the regional growth over the projected timeframe.
Prominent players of the non-invasive blood glucose monitoring devices industry include Cnoga, Abbott Laboratories, DexCom, Integrity Applications, Inc., Hoffmann-La Roche Ltd., MediWise, Nemaura, Medtronic, Taiwan Biophotonic Corporation, OrSense, and Tech4Life Enterprises. These players are implementing several strategies to sustain the market competition and expand their customer base.
COVID-19 positively influenced the non-invasive glucose monitoring devices market last year due to the higher risk of infection and complications in patients with diabetes. Travel and movement restrictions and shortage of hospital beds propelled the demand for self-monitoring devices in home settings.
In addition, emerging health awareness and growing demand for real-time outcomes among people increased the healthcare expenditure during the pandemic, further supporting the industry expansion.
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