Non-invasive Glucose Monitoring Devices Market: Introduction
- Non-invasive glucose monitoring devices play an important role in the management of diabetes, as patients with diabetes need to check blood glucose level regularly. These devices enable monitoring of blood glucose level at home.
Key Drivers and Opportunities of Global Non-invasive Glucose Monitoring Devices Market
- Change in dietary habits and lifestyle is the leading cause of diabetes. Hence, rise in prevalence of diabetes mellitus is projected to drive the global market. According to the International Diabetes Federation, globally, 463 million adults were living with diabetes in 2019 and the number is anticipated to rise to 700 million by 2045.
- Moreover, increase in demand for products owing to rise in awareness and adoption of the advanced products are anticipated to propel the global non-invasive glucose monitoring devices market
- Furthermore, focus on research & development by key players, and thereby introducing new products, is expected to augment the global non-invasive glucose monitoring devices market. For instance, Integrity Applications, Inc. received CE Mark approval for GlucoTrack in January 2020. This enhancement is a direct result of the company’s aggressive R&D program. In June 2019, Nemaura’s SugarBEAT was approved in Europe.
- Governments in developing countries are making significant investments toward modernization of health care infrastructure, which is likely to increase access to health care. This is likely to increase the demand for advanced technologies in developing countries. Moreover, rise in prevalence of diabetes in emerging countries is creating lucrative opportunities in the market.
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North America to Capture Major Share of Global Non-invasive Glucose Monitoring Devices Market
- North America is projected to account for major share of the global non-invasive glucose monitoring devices market due to presence of leading players. Moreover, early adoption of technologically advanced products and strategies adopted by major players drive the market in the region.
- Asia Pacific is likely to account for significant share of the global non-invasive glucose monitoring devices market during the forecast period. The market in the region is projected to grow at a rapid pace from 2020 to 2030 owing to increase in awareness and rise in prevalence of diabetes mellitus among the geriatric population. According to the International Diabetes Federation, the estimated prevalence of diabetes in Southeast Asia was 88 million in 2019.
Key Players Operating in Global Non-invasive Glucose Monitoring Devices Market
The global non-invasive glucose monitoring devices market is highly consolidated due to the presence of small number of key players. These players hold major market share in their respective regions. Demand for non-invasive glucose monitoring devices has increased in emerging as well as developed markets due to rise in prevalence of diabetes across the globe. Growth strategies adopted by leading players are likely to propel the global market. For instance, in June 2018, LifePlus, Inc. introduced Lifeleaf, a world’s first non-invasive continuous blood glucose monitoring multi-sensor wearable device.
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Major players operating in the global non-invasive glucose monitoring devices market are:
- DiaMonTech AG
- Metamaterial Technologies, Inc. (GlucoWise)
- Nemaura Medical
- Integrity Applications
- BOYDSense, Inc.
- RSP Systems
- LifePlus, Inc.
- Other prominent players
Global Non-invasive Glucose Monitoring Devices Market: Research Scope
Global Non-invasive Glucose Monitoring Devices Market, by Product
Global Non-invasive Glucose Monitoring Devices Market, by Technology
- Near Infrared Spectroscopic
- Mid-infrared Spectroscopy
- Raman Spectroscopy
- Optical Coherence Tomography
- Bioimpedance Spectroscopy
- Fluorescence Spectroscopy
Global Non-invasive Glucose Monitoring Devices Market, by Modality
Global Non-invasive Glucose Monitoring Devices Market, by End-user
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Home Care
Global Non-invasive Glucose Monitoring Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.