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Los Angeles, CA -- (SBWIRE) -- 02/20/2020 -- The immense need for an economic, compact, painless, and convenient non-invasive device has encouraged researchers to test non-invasive glucose monitoring devices to measure blood glucose levels among people with diabetes and prevent chronic and acute complications. These devices use multivariate regression analyses which converts optical signal into glucose concentration. Thus it needs to be designed in such a way that it leads to accurate detection of blood glucose levels.
The non-invasive glucose monitoring device market was valued at US$3041 mn in 2019 and is projected to reach US$12026 mn by 2025, rising at a CAGR of 25.75% during the forecast period.
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Research Methodology
The research report provides its readers with comprehensive market data which has been collated through historical data, insights, facts, and statistics by using primary and secondary methodologies. The researches have used PESTEL's analysis to understand the political, economic, social, technological, environmental, and legal factors affecting the market. This can help reader understand the drivers and restrains in the market and use them to their advantage. Additionally, they have used SWOT analysis to further study the market
Industry for Non-invasive Glucose Monitoring Device to grow as they are Easy to Operate
Rising cases of diabetes are major factors driving the market of non-invasive glucose monitoring device. Unlike traditionally methods these devices are economic, compact, painless, and convenient to use. Additionally, they have fewer side effects, are easy to operate, and minimize the discomfort. They are increasingly being adopted as alternatives to conventional blood glucose monitoring devices because of the pain and discomfort. Furthermore, the new advancements in technology has led to introduction of AI and RADAR technologies that is capable of providing real-time data to help maintain standard glucose level.
Manufacturers are heavily investing on wearable monitoring devices that continuously update the levels and store it to the cloud. Also, children under the age of 18 years and growing geriatric population who are also being diagnosed with diabetes are contributing significantly towards the market growth. This will uplift the non-invasive glucose monitoring device industry in the global medical devices sector attributing to its various advantages.
Home Care Segment to Observe Robust Growth in Non-invasive Glucose Monitoring Device Industry
Diabetic patients need to continuously monitor their blood glucose level and thus these devices are increasingly being adopted in home care as they are easy to operate and reduces hospital visits. Also, the new trends of wearable devices for monitoring blood glucose levels will significantly boost the growth of market in forthcoming years.
North American Region to Dominate Global Non-invasive Glucose Monitoring Device Industry
Rising number diabetes cases and huge generic population are some of the factors boosting the demand of the North American regional market. Additionally, presence of major manufactures, huge investment towards R&D, and ultra-morden medical infrastructure is expected to further fuel the demand for non-invasive glucose monitoring device.
Manufacturers to Focus on Gaining Market Share to Combat Competition in Industry
Integrity Applications, Inc. innovator of GlucoTrack, has recently announced that its non-invasive glucose levels measuring device for has received CE Mark approval after major enhancements in the product, GlucoTrack. This will amplify the share of the company and help them gains larger share in the global non-invasive glucose monitoring device industry.
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The major companies covered in the report includes DexCom, GlySens Incorporated, Abbott, MediWise, Cnoga Medical, Taiwan Biophotonic, Integrity Applications, and others.
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