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End-users are home care diagnostics, hospitals, and others. Others include diagnostic laboratories, research institutes, and clinical. Home care diagnostics held over 46 % market shares in 2015. This segment comprises the adoption hand-held glucose meters. These devices deliver quick & efficient results and reduce the need for frequent hospital visits.‘ Hospitals’ may expand significantly over the next eight years. It could grow a 10.3 % CAGR from 2015 to 2022.
Regions in the global Glucose Biosensors Market are North America, Latin America, Middle East & Africa( MEA), Asia Pacific, and Europe. North America dominated the worldwide market with nearly 37 % shares in 2015. Growing cases of diabetes coupled with technological advancements in the region can boost revenues during the forecast period. Europe may be the second largest market in terms of revenue after North America. Asia Pacific is expected to grow at a CAGR of 13 % from 2015 to 2022. India & China jointly accounted for over 65 % of the global diabetic base in 2013. This could benefit the worldwide market in the years ahead.
Major players in the glucose biosensor industry are LifeScan Inc., Abbott Laboratories, F. Hoffmann-La Roche AG, and Bayer AG. These companies held over 70 % of the total market shares in 2014. They focus on product development, partnerships, and collaborations for long term growth and market sustenance. For instance, LifeScan introduced a new glucose monitoring system, OneTouch Verio in 2015. It measures glucose levels via a color-coded indicator.
Mayo Clinic, Gentag, NovioSense, and Fraunhofer Institute for Microelectronic Circuits & Systems entered a collaboration to fight against type 2 diabetes, in 2015. They aim at equipping smartphones with low-cost diabetes monitoring systems. The technology thus developed may be employed in a number of diabetes applications, such as eye sensors, skin patches, long-terms implantable sensors and so on. All of these devices can be controlled via smartphones. Currently, carbon nanotubes are gaining popularity due to their exceptional physical and electrical properties. These nanotubes work well with glucose biosensors by providing support for enzyme control.
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