Deep Analysis of Impact of COVID-19 on “Glucose Biosensor Market 2012-2022” Growth Worldwide….


Global Glucose Biosensor Market size is expected to reach USD 31.0 billion by 2022, according to a new report by Grand View Research Inc. The global market is anticipated to witness lucrative growth during the period of 2015 to 2022.
The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.
Some key factors attributing to the growth of this market include the increasing incidence of diabetes across the globe, development of technologically advanced products, growing demand for minimally and non-invasive products, patient awareness levels, and the need for early diabetes detection. However, presence of other alternatives for management of the diabetes, such as laboratory methods is expected to restrict market growth.
The glucose biosensors industry by end-use is segmented on the basis of its use in hospitals, homecare diagnostics, and others including research institutes, diagnostics, and clinical laboratories. The homecare diagnostics market is projected to flourish over the forecast period. Ease-of-use, quick results, and low costs of the tests are some aspects supporting market growth. On the other hand, the hospital-based market is projected to grow at a significant CAGR of 10.3% during the period 2015 to 2022.
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Further key findings from the study suggest:
·         North America led the market, in terms of value, with a share of about 37% in 2015. High disease burden and the subsequent need to curb associated healthcare expenditure in the U.S., has resulted in this country account for a large revenue share of the North American market in 2014. According to the Centers of Disease Control (CDC), around 22.3 million people in the U.S. were estimated to be diagnosed with diabetes in the year 2013.
·         Asia Pacific is anticipated to witness lucrative growth during the forecast period. This market is projected to grow rapidly during the period 2015 to 2022. China and India are expected to spearhead market growth in this region.
·         The homecare diagnostics Glucose Biosensors Market was the largest in 2014. The segment is anticipated to grow at a rapid CAGR during the forecast period. As of 2015, the market was led by North America owing to the region's highest disease burden and homecare diagnostics adoption rates.
·         The market comprises several local as well as global players. Some major players of this industry include Roche, Bayer and LifeScan, Inc.. 
The global glucose biosensor market was estimated at USD 15.3 billion in 2015. Increasing incidence of diabetes across the globe is expected to be a key factor driving market growth. Diabetes is one of the most commonly occurring diseases worldwide. It is expected to be one of the leading causes of mortality all over the world. 
Rising prevalence of diabetes globally is a major factor attributing towards the growth of this market. Blood glucose monitoring is being used as a necessary tool in diabetes management. As maintenance of normal blood glucose levels is important for the patients suffering from diabetes, a series of apt glucose biosensors have been developed to meet the needs of the patients suffering from this highly prevalent disorder. Furthermore, the growing demand for self-monitoring devices has augmented the use of biosensors, especially in portable forms. Glucose sensors are now available as small and minimally invasive devices that measure glucose levels even in outpatient settings. 
Monitoring of blood glucose level at regular intervals is one of the key factors required for disease management. Owing to this fact, several technical improvements have been carried out in the development of sensors. However, development of reliable and accurate glucose biosensors is still a challenge for market participants.
The introduction of technological advancements is expected to play an integral role in boosting usage rates. This is evident from the development of minimal and non-invasive glucose biosensors in the market. Several companies, including small and major, players are involved in extensive R&D initiatives to develop less painful, cost-effective, more accurate, and reliable products. 
For instance, NovioSense, a glucose sensor manufacturing company in the Netherlands, has developed a non-invasive sensor to monitor glucose levels in tears. However, the presence of alternative methods, such as laboratories tests, for monitoring of glucose levels in the blood are expected to hinder glucose biosensors market growth over the forecast period.
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Grand View Research has segmented the global Glucose Biosensors Market on the basis of end-user application:
Glucose Biosensors End-use Outlook (Revenue, USD Million, 2012 - 2022)
·         Hospitals
·         Homecare Diagnostics
·         Others 
On the basis of end-user, the market is fragmented into hospitals, homecare diagnostics, and others. The others section includes research institutes, clinical, and diagnostic laboratories. Homecare diagnostics market in terms of value was estimated to account for the largest share of over 46.0% in 2015. 
The homecare diagnostic segment involves the use of point of care devices including hand-held glucose meters. These devices are portable, easy-to-use, cost-effective, and yield quick results. Additionally, the application of these devices reduces frequent visits to the hospitals.
Some key players operating in this market include Roche, Bayer, LifeScan Inc., and Abbott. In 2014, collectively, these companies held a market share of more than 70.0%. The companies are actively involved in new product development, technological advancements, partnerships, joint ventures, and collaborations, in an attempt to ensure sustainability and register growth. 
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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