Global Non-Invasive Biosensors Market: Overview
Presence of an effective system for diagnosing medical conditions is a prerequisite for a robust healthcare sector. The success of all medical treatments depends on ascertaining the right line of treatment and dosage. Biological indicators have majorly helped medical practitioners in diagnosis and testing of body fluids. Content of several body fluids can be determined with the help of biosensors. Therefore, there is no contention about the growing relevance of non-invasive biosensors in the healthcare industry.
Biosensors have received undivided attention from the medical research fraternity. The ability of these sensors to offer a wide variety of insights about biological health has aided market growth. Furthermore, non-invasive procedures are favoured by patients, and this trend has popularised non-invasive biological sensors. The recurring demand for determining glucose levels in diabetics is also a key driver of demand within the global non-invasive biosensors market.
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Clinical analysis is an important component of the global healthcare industry. Medical practitioners have emphasized on the importance of using non-invasive biosensors during clinical analysis. This factor brightens growth prospects for the vendors operating in the global market. Analysis of disease onset and progression also involves the use of biosensors.
A review by analysts at Transparency Market Research (TMR) reveals several key trends operating in the global non-invasive biosensors market. The global non-invasive biosensors market could be segmented along the following parameters: technology, product, and region. On the basis of technology, the demand for transdermal biosensors is slated to rise in the coming years.
Global Non-Invasive Biosensors Market: Notable Development
- Profusa pioneered the development of minimally-invasive injectable biosensors, and the company and its partners have been recognised for their ground-breaking research in non-invasive medicine. Profusa received the DARPA award for supremacy in disease control and management. The consumer base of the global non-invasive biosensors market is expected to expand at the back of these developments.
- Glucose Biosensor Systems (GBSG) is planning to develop a non-invasive blood glucose monitoring system for consumers. The company has files to raise funds worth $23 million in an IPO. The company’s entry into the global non-invasive biosensors market would be met with competition from behemoth players.
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Some other key players in the global non-invasive biosensors market are:
- Nemaura Medical, Inc.
- Integrity Applications Inc.
- MediWise Ltd.
- GE Healthcare
- Medtronic Plc
Global Non-Invasive Biosensors Market: Growth Drivers
- Need for Early Diagnosis
Early diagnosis of medical diseases has been acclaimed as a major contributor to successful treatments. There is a stellar need for devising sensitive and specific methods for diagnosis of medical conditions. Therefore, the global non-invasive biosensors market is slated to expand in the years to follow.
- Rising Incidence of Chronic Diseases
The worldwide incidence, mortality, and morbidity of cancer, diabetes, and cardiovascular diseases has birthed concerns across the medical fraternity. Use of non-invasive biosensors can largely help in diagnosing and tracking health of patients suffering from the aforementioned diseases.
Global Non-Invasive Biosensors Market: Regional Outlook
The North America non-invasive biosensors market is projected to grow as interdisciplinary research on chemistry, nanotechnology, and medical technology gathers swing. The US has remained at the helm of improvements in medical technology, and the country is the most sought-after destination for novel research. Medical Tourism has allowed the biosensors market in Asia Pacific to grow at a stellar pace. Other key regional markets are South America, Europe, and the Middle East.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.