Glucose Biosensors Market Booms Amid Diabetes Surge & Tech Innovation

The Global Glucose Biosensors Market Size is projected to grow at USD 15.68 billion by 2030 from USD 9.59 billion in 2024 at a CAGR of 8.5% during the forecast period. Diabetes is a global disease, and its prevalence is increasing day by day. So, the need for glucose biosensors is increasing due to the upsurge in the number of diabetes patients. The increase in technology has led to the extensive use of glucose biosensors.

Electrochemical biosensors have the most significant market share in the glucose biosensor market due to their low-cost, accuracy, ease of use, etc. Hospitals are the largest end-user market share for glucose biosensors as they are essential in the diagnosis and treatment of diabetes.

Analyst’s Point of View

Glucose biosensors play an essential role in healthcare, and its use is expected to increase due to the large patient pool. The glucose biosensors market growth rate is expected to rise due to an increase in new technologies used for monitoring and extensive hospital end-user market. Companies like Dexcom and Abbott are the market leaders, and with this glucose biosensors market, many other companies are also coming up with innovative ideas and products, increasing market competition.

The diabetes market share is fluctuating among big companies, which will result in opportunities for new comers to grab a market share. The focus on research and development for better and more accuracy devices and introduction of cost-effective products will open more opportunities in the glucose biosensors market.

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Key Takeaways

• The market is estimated to grow at USD 15.68 billion by 2030.

• The market is projected to grow at a CAGR of 8.5% during the forecast period 2025-2030.

• Dexcom and Abbott are the dominating companies in the market but the competition among companies is also increasing in the glucose biosensors market.

• Electrochemical biosensors are dominating the market with more than 59.2% of the market share.

• Hospitals are the largest end-user for glucose biosensors with more than 57.0% of market share.

• North America is dominating the glucose biosensors market with a share of 32.62% in 2024.

Market Opportunities

• The glucose biosensors market has a wide range of business opportunities for investors and entrepreneurs.

• The demand for glucose biosensors is likely to increase in the emerging markets such as Asia-Pacific, the Middle East, and Africa.

• The glucose biosensors market has a huge scope for introducing cost-effective, user-friendly glucose monitoring systems, particularly in the hospital and homecare segments.

• The market also has opportunities to provide glucose monitoring devices and services in developing countries where there is a high prevalence of diabetes and a lack of access to quality healthcare.

• Manufacturers can explore the opportunities of providing customized glucose biosensor solutions to the healthcare providers based on their specific needs and requirements.

• The glucose biosensors market has a great potential for providing glucose biosensor-related products such as software solutions, training services, and accessories.

• Innovation in wearable glucose monitoring devices, such as glucose monitoring wristbands and smartwatch, can help players to tap more business opportunities.

• The market for glucose monitoring products can provide an opportunity for the development and introduction of next-generation glucose biosensors with improved accuracy and user comfort.

Market Regional Analysis

• North America dominated the Global Glucose Biosensors Market with a share of more than 32.62% of market in 2023.

• The growth of the market in North America is majorly due to the well-established healthcare infrastructure, reimbursement scenario, and rising prevalence of diabetes in the region.

• Asia-Pacific is expected to grow with the highest CAGR during the forecast period owing to the factors like increased incidence of diabetes, growing access to healthcare, and rise in disposable income in the region.

• Europe will also be a key market for glucose biosensors during the forecast period, attributed to the continued growth in healthcare infrastructure and technology and a rise in the preference for personalized healthcare offerings.

Glucose biosensors market by type

• Electrochemical biosensors are leading the market with more than 59.2% of the market share of the global glucose biosensors market in 2023.

• Their dominance is due to their high level of accuracy, affordability, and ease of use in the industry.

Glucose biosensors market by end-use

• Hospitals are the largest end-use for glucose biosensors in the market, with more than 57% of market share of the global glucose biosensors market.

• The end-use of glucose biosensors is divided into two segments, that is, hospitals and home use.

• Hospitals use the glucose biosensors for the diagnosis and treatment of diabetes, while home use accounts for glucose monitoring of diabetic patients by individuals at their homes.

• The homecare end-use of glucose biosensors is expected to register the highest CAGR during the forecast period.

Key players in the Glucose Biosensors Market

• The glucose biosensors market is a competitive market in which the players are mainly focused on innovation in the product and technology.

• The companies operating in the Glucose Biosensors market offer products and solutions for continuous glucose monitoring (CGM) and are aiming to develop advanced devices.

• The leading companies are continuously focused on making their devices better in terms of accuracy, affordability, and ease of use.

• The companies are also focused on increasing their product portfolios by launching new products and solutions in the market.

• The companies are also investing in research and development activities to improve their existing product offerings.

• The companies also look for growth opportunities by establishing strategic alliances, partnerships, joint ventures, and new product launches.

Top 10 Companies

• Abbott Laboratories

• Medtronic plc

• Ascenia Diabetes Care

• DexCom, Inc.

• LifeScan, Inc.

• B. Braun Melsungen AG

• AgaMatrix, Inc.

• Trividia Health, Inc.

• ARKRAY, Inc.

• ACON Laboratories, Inc.

• Sinocare Inc.

• Other Key Players

Recent Developments

• Dexcom launched its next-generation glucose monitoring system called the G7.

• The FreeStyle Libre by Abbott is one of the most innovative glucose monitoring systems launched recently.

• The market is evolving with the growing innovation in technology.

• The new glucose monitoring systems are coming up with more accurate features.

• The launch of cost-effective and advanced technologies has increased the competition in the market.

• The new entrants in the market are also competing on pricing and other factors to increase their market share.

Conclusion

• The Glucose Biosensors market is likely to increase with the availability of advanced technologies and growing diabetes patients.

• Continuous glucose monitoring system market will become one of the prominent players in the near future.

• The growth of the Glucose Biosensors market is expected to be affected by the existing competition in the market, especially from major companies such as Dexcom, Abbott, Medtronic, and B. Braun Melsungen AG.

• Technological advancements and development of next-generation glucose biosensors will be the key trend in the Glucose Biosensors market.

• Continuous glucose monitoring systems are becoming popular for diabetes management, and it is expected to be one of the most dominant in the Glucose Biosensors market.

• The glucose biosensors market is likely to grow with an increased number of patients at home with the requirement of the diagnosis and monitoring.

• The growth of the glucose biosensors market is also expected to be enhanced by the rise in the number of wearable glucose monitoring systems.