What is Global Non-Invasive Glucose Meter Market?
The Global Non-Invasive Glucose Meter Market is a rapidly evolving sector that has seen significant growth in recent years. This market pertains to the development and distribution of glucose meters that do not require a blood sample to measure glucose levels. These devices are a revolutionary step in the management of diabetes, a chronic condition that affects millions of people worldwide. The non-invasive nature of these glucose meters makes them a preferred choice for many, as they eliminate the need for painful finger pricks. The market's value stood at US$ 179.5 million in 2022, and it is projected to reach US$ 271.2 million by 2029. This growth trajectory represents a Compound Annual Growth Rate (CAGR) of 6.0% from 2023 to 2029.
Wearable Non-Invasive Glucose Meter, Non-Wearable Non-Invasive Glucose Meter in the Global Non-Invasive Glucose Meter Market:
The Global Non-Invasive Glucose Meter Market is segmented into wearable and non-wearable devices. Wearable non-invasive glucose meters are devices that can be worn on the body, like a wristwatch. They continuously monitor glucose levels and provide real-time data, which is crucial for managing diabetes effectively. On the other hand, non-wearable non-invasive glucose meters are handheld devices that use technologies like infrared to measure glucose levels without the need for a blood sample. Both these types of devices have their unique advantages and cater to different needs and preferences of the users. The market is dominated by a few key players, with the top three companies accounting for about 90% of the market share.
Hospitals, Home Care Settings, Clinics, Others in the Global Non-Invasive Glucose Meter Market:
The usage of non-invasive glucose meters is widespread and includes hospitals, home care settings, clinics, and other healthcare facilities. In hospitals, these devices are used to monitor the glucose levels of patients with diabetes, especially those who are critically ill or undergoing surgery. Home care settings represent another significant area of application. Here, non-invasive glucose meters provide a convenient and painless way for individuals to monitor their glucose levels regularly. In clinics, these devices are used during routine check-ups and consultations. They provide quick and accurate results, aiding in the timely diagnosis and management of diabetes. Other areas of application include nursing homes, rehabilitation centers, and long-term care facilities.
Global Non-Invasive Glucose Meter Market Outlook:
The market outlook for the Global Non-Invasive Glucose Meter Market is promising. In 2022, the market was valued at US$ 179.5 million. It is expected to grow at a steady pace, reaching a value of US$ 271.2 million by 2029. This represents a CAGR of 6.0% during the forecast period of 2023-2029. The North American region holds the largest share of the market, accounting for about 87% of the total. The market is also highly concentrated, with the top three companies holding approximately 90% of the market share.
| Report Metric | Details |
| Report Name | Non-Invasive Glucose Meter Market |
| Accounted market size in 2023 | US$ 191.2 million |
| Forecasted market size in 2029 | US$ 271.2 million |
| CAGR | 6.0 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Segment by Region |
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| By Company | Abbott, Glucowise (MediWise), DEXCOM, Integrity Applications, Cnoga Medical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
