The
global Glucose Biosensor Market is anticipated to witness lucrative
growth during the period of 2015 to 2022. Some key factors attributing to the growth of this market include the
increasing incidence of diabetes across the globe, development of
technologically advanced products, growing demand for minimally and
non-invasive products, patient awareness levels, and the need for early
diabetes detection.
However, presence of other alternatives for management of the diabetes, such as laboratory methods is expected to restrict market growth. The glucose biosensors industry by end-use is segmented on the basis of its use in hospitals, homecare diagnostics, and others including research institutes, diagnostics, and clinical laboratories.
However, presence of other alternatives for management of the diabetes, such as laboratory methods is expected to restrict market growth. The glucose biosensors industry by end-use is segmented on the basis of its use in hospitals, homecare diagnostics, and others including research institutes, diagnostics, and clinical laboratories.
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The
homecare diagnostics Glucose Biosensor Market is projected to flourish
over the forecast period. Ease-of-use, quick results, and low costs of
the tests are some aspects supporting market growth. On the other hand,
the hospital-based Glucose Biosensor Market is projected to grow at a
significant CAGR of 10.3% during the period 2015 to 2022.
Further key findings from the study suggest:
North America led the market, in terms of value, with a share of
about 37% in 2015. High disease burden and the subsequent need to curb
associated healthcare expenditure in the U.S., has resulted in this
country account for a large revenue share of the North American market
in 2014. According to the Centers of Disease Control (CDC), around 22.3
million people in the U.S. were estimated to be diagnosed with diabetes
in the year 2013.
Asia Pacific is anticipated to witness lucrative growth during the
forecast period. This market is projected to grow rapidly during the
period 2015 to 2022. China and India are expected to spearhead market
growth in this region.
The homecare diagnostics Glucose Biosensor Market was the largest in
2014. The segment is anticipated to grow at a rapid CAGR during the
forecast period. As of 2015, the market was led by North America owing
to the region's highest disease burden and homecare diagnostics adoption
rates.
The Glucose Biosensor Market comprises several local as well as
global players. Some major players of this industry include Roche, Bayer
and LifeScan, Inc.
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