Global demand for non-invasive glucose meter market was valued at approximately USD 130 million in 2018 and is expected to generate revenue of around USD 203 million by end of 2025, growing at a CAGR of around 6.6% between 2019 and 2025.
The report covers forecast and analysis for the non-invasive glucose meter market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the non-invasive glucose meter market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the non-invasive glucose meter market on a global level.
As per the report, the global demand for non-invasive glucose meter market was valued at approximately USD 130 million in 2018 and is expected to generate revenue of around USD 203 million by end of 2025, growing at a CAGR of around 6.6% between 2019 and 2025.
Worldwide demand for minimal invasive devices is growing at a rapid pace. Global demand for non-invasive glucose meter is expected to be driven by increasing prevalence of diabetes across the globe owing to changing lifestyle habits, sedentary lifestyle, lack of physical activity, changing eating habits, genetic factors, etc. Continuous glucose monitoring has become an utmost importance in diabetic population in order to avoid high blood glucose levels and related complexities. Additionally, increasing preference for non-invasive continuous glucose monitoring, growing health awareness, and wide adoption of technologically advanced products are expected to be major factors attributing to the growth of non-invasive glucose meter market. However, high prices of non-invasive glucose meter and stringent regulatory requirements may act as a restraint for non-invasive glucose meter market growth. Emerging countries and increasing geriatric population are expected to bring new growth opportunities for non-invasive glucose meter market.
Based on type, the market is segmented into wearable device, handheld, and other types. Handheld type segment held the largest market share in 2018 whereas the wearable device type segment is expected witness highest CAGR during the forecast period. Wearable devices offer continuous glucose monitoring and can be used without any inconvenience by the user thus promoting the growth rate of the market in the coming years.
Based on technology, market is segmented into Raman Spectroscopy, Near Infrared Spectroscopy (NIRS), Photo-acoustic Spectroscopy (PA), Optical Coherence Tomography (OCT), Mid -Infrared Spectroscopy (Mid-IRS) and Other Technologies.
Hospitals and clinics, home care settings, and others are the end-users of the non-invasive glucose meter market. Hospitals and clinics end-user segment dominated the market in terms of revenue in 2018 owing to the growing adoption of cutting edge products to deliver advanced health care services to patients and availability of large patient pool. Home care settings end-user segment is expected to witness highest growth rate over the forecast period.
North America dominated the global non-invasive glucose meter market and accounted for almost 42% market share in 2018. North America region is projected to lead the market over the forecast period with growth mostly concentrated in the U.S. market. Increasing prevalence of diabetes, increasing geriatric population, presence of major manufacturers in this region are major factors that attribute to largest revenue share. Europe was the second largest non-invasive glucose meter market in 2018 globally. Favorable reimbursement policies, surge in demand for cutting edge non-invasive products for continuous glucose monitoring, increasing diabetic population base are other major factors driving the demand for non-invasive glucose meter in Europe. Asia Pacific is estimated to be growing at the highest CAGR in the coming years. Rapid growth in this region is attributable to increasing diabetic population, growing health awareness among patients, growth in geriatric population in emerging economies like China and India, etc. Latin America is projected to grow moderately, however poor healthcare infrastructure in the Middle East and Africa will lead to slow market growth.
Some of the key players in non-invasive glucose meter market include Animas Technologies, Abbott, Life Scan, Bayer Healthcare, Pendragon Medical, Cercacor, Biophotonic Corporation, DexCom, OrSense, MediWise, Integrity Applications Incorporate, Cnoga Care, Roche Diagnostics and Nemaura Medical Inc. among others.
Global Non-Invasive Glucose Meter Market: By Type
Global Non-Invasive Glucose Meter Market: By Technology
Global Non-Invasive Glucose Meter Market: By End-User
Global Non-Invasive Glucose Meter Market: By Region