The Global Non-Invasive Biosensors Market Growth Accelerated By Miniaturization And Wearable Devices
Non-invasive biosensors are medical devices that monitor various physiological parameters without requiring skin penetration or direct contact. They are used to measure vital signs such as blood pressure, body temperature, and heart rate. These sensors help patients and healthcare professionals conveniently monitor health conditions from the comfort of home.
The global Non-invasive Biosensors Market is estimated to be valued at US$ 29.84 Bn 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:
Miniaturization of biosensors and development of wearable devices has accelerated growth of the non-invasive biosensors market. Major players are focusing on developing miniaturized biosensors that can be embedded within wearables. This allows for continuous remote monitoring of vital signs outside of hospitals as well. For example, smartwatches now come equipped with light, compact sensors that can detect pulse, blood oxygen levels and ECG. Wearable biosensor patches can alsomonitor conditions such as diabetes, cardiovascular diseases and neurological disorders. The miniaturization of biosensors along with their integration into daily wearables has improved patient engagement and management of chronic ailments.
Segment Analysis
The global non-invasive biosensors market is dominated by glucose monitoring biosensors segment. These biosensors are used to measure the level of glucose in the blood and interstitial fluid without drawing blood. They have gained wide acceptance as they are easy-to-use, pain-free and provide accurate and timely glucose readings. This has led to the significant rise in demand for continuous glucose monitoring systems (CGM) incorporated with non-invasive glucose biosensors.
Key Takeaways
The global Non-Invasive Biosensors Market Growth is expected to witness high growth over the forecast period. Growing prevalence of chronic and lifestyle diseases along with rising awareness regarding healthcare has boosted the adoption of non-invasive monitoring techniques. The global Non-invasive Biosensors Market is estimated to be valued at US$ 29.84 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis
North America dominates the global non-invasive biosensors market and is expected to grow at a steady rate during the forecast period. Large patient pool suffering from chronic diseases such as diabetes is driving the demand for home healthcare devices and non-invasive monitoring biosensors in the region. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period owing to increasing healthcare investments, rising disposable income and growing medical tourism in emerging countries like India and China.
Key players
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 shell and tube heat exchangers besides providing compact heat exchangers and specialty heat exchangers. Armstrong International Inc. manufactures evaporative condenser and closed circuit coolers. Stork Thermeq B.V. provides evaporation, cooling, and refrigeration solutions. Alfa Laval AB offers heat exchangers, separators, and heat recovery units. Kelvion Holding GmbH supplies brazed and gasketed heat exchangers.
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