Diabetes is worldwide public health problem. It is a severe lifelong condition characterized by high glucose level in blood stream. It is one of the most common chronic diseases across the globe that occurs either when body doesn’t produced sufficient insulin or when body fails to absorb insulin produced by pancreas. According to International Diabetes Federation (IDF) in 2015, 415 million people across globe were affected with diabetes and this number is expected to reach 642 million by 2040. Diagnosis and management of diabetes especially diabetes mellitus require constant glucose monitoring to prevent serious complications. Previously available methods for examining blood glucose were time consuming, which has increased the need for accurate and reliable monitoring devices leading to development of biosensors. Glucose biosensors are wearable devices which are used for real time glucose monitoring by indicating fluctuations in blood glucose level. Majority of biosensors used today are of electrochemical type because of low cost and high sensitivity to even small change in blood glucose level. Biosensors work by immobilizing glucose molecule which catalyzes oxidation of beta-glucose by molecular oxygen producing gluconic acid and hydrogen peroxide. The electrodes present in biosensor recognize electron transfer and this electron is directly proportional to blood glucose level.
Increasing incidence of diabetes worldwide is projected to be key factor responsible for high growth of the market. Diabetic patients required continuous glucose monitoring for effective disease management, thereby increasing demand for glucose biosensors. Furthermore, technological advancements, increasing demand for minimal non-invasive products, and increasing awareness about early detection and prevention of diabetes will propel growth of the market in coming years. However, availability of alternatives for diabetes management such as laboratory methods is expected to hamper growth of the market.
Major players operating in the global market include Abbott Point Of Care, Inc., Lifesensors, Inc., Animas Corporation, Medtronic Diabetes, AgaMatrix, Inc., Siemens Healthcare Diagnostics, Inc., Nova Biomedical Corp., LifeScan, Inc., M-Biotech Limited, and F. Hoffman-La Roche. New product launch, technological innovations and partnerships are some of the key strategies adopted by major players. For instance in February 2016, LifeScan, Inc. had launched new OneTouch Verio Flex blood glucose monitoring system integrated with colorsure technology that indicates change in blood glucose level through different colors. This new device is expected to enhance better diabetes management through easy detection of fluctuations in blood glucose level.
Rapid technological advancements in glucose biosensors are expected to provide large number of opportunities for key players operating in the market. Newer technologies such as mini-invasive glucose biosensors and use of newer biocompatible coatings for sensors will witness high adoption rate in coming years. Label free and time optimal detection methods are one of the most promising technologies. Complementary metal oxide semiconductor (CMOS) image sensors are increasingly becoming strong bio sensing tool owing to various benefits such as low power consumption, compact size and high strength of signal. Introduction of biocompatible hydrogel coatings for sensing devices will enhance overall diabetes detection and management.
Glucose Biosensor Market Segmentation:
By End User
- Homecare Diagnostics
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country