Non-invasive biosensors are integrated devices used for the detection and monitoring of various biological and physiological parameters like blood glucose levels, blood oxygen levels, heartbeat monitoring, amongst others without drawing blood or causing harm to the patient’s body. With growing prevalence of chronic and lifestyle diseases, non-invasive biosensors help in effective remote patient monitoring and disease management.
The global Non-invasive Biosensors Market is estimated to be valued at US$ 29.84 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing investments by governments and private organizations in developing advanced healthcare infrastructure is driving the adoption of non-invasive biosensors across various end-use applications. Most governments are focusing on developing digital healthcare platforms for remote monitoring of patients and early disease diagnosis. This is promoting research and development activities in the non-invasive biosensors market. Furthermore, growing awareness about advantages of non-invasive devices over traditional invasive methods is boosting the demand for non-invasive biosensors globally. Manufacturers are also introducing innovative product variants with improved accuracy and portability which is accelerating the market growth.
Segment Analysis
The global non-invasive biosensors market is dominated by industrial process monitoring sub-segment owing to wide usage of biosensors in monitoring industrial processes for parameters such as pH, dissolved oxygen levels, and temperature. Non-invasive biosensors help in real-time data collection for industrial process monitoring without direct contact which aids in improving operational efficiency.
Key Takeaways
The Global Non-Invasive Biosensors Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 owing to increasing focus on continuous health monitoring solutions and rapid industrialization.
Regional analysis: North America dominates the global non-invasive biosensors market currently due to presence of major market players and developed healthcare infrastructure in the region. Availability of favourable reimbursement policies for novel monitoring solutions also contributes to the high market share of North America. Asia Pacific is expected to witness the fastest growth over the forecast period 2023-2030 with China and India emerging as highly lucrative markets. Growing medical tourism industry and rising healthcare spending are some of the factors driving growth of the non-invasive biosensors market in Asia Pacific.
Key players operating in the non-invasive biosensors market are Thermax Limited, Armstrong International Inc., Stork Thermeq B.V., Alfa Laval AB, and Kelvion Holding GmbH. Thermax Limited offers a wide range of non-invasive temperature and flow sensors for industrial process monitoring. Armstrong International Inc. provides sustainable industrial flow and level measurement solutions using advanced sensor technologies.
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