Non-Invasive Glucose Meter Market Summary
Non-invasive blood glucose monitoring can avoid the pain of POCT and CGM puncture wounds, reduce testing costs, and avoid safety issues such as blood infections and diseases. It can achieve real-time monitoring of detection effects and obtain dynamic changes in blood sugar trends. Judging from the products on the market, the current non-invasive blood glucose monitoring principles can be roughly divided into measuring blood substitutes and micro-osmosis methods, biosensor methods, spectroscopy methods, and metabolic conservation methods. Although non-invasive blood glucose meters are conceptually very appealing, there are still relatively few reliable and accurate non-invasive blood glucose meters on the market today. The accuracy and reliability of these devices can be affected by a variety of factors, such as skin pigment, temperature, humidity, etc.
According to the new market research report "Global Non-Invasive Glucose Meter Market Report 2024-2030", published by QYResearch, the global Non-Invasive Glucose Meter market size is projected to grow from USD 111.02 million in 2024 to USD 141.07 million by 2030, at a CAGR of 7.8% during the forecast period.
Figure. Global Non-Invasive Glucose Meter Market Size (US$ Million), 2019-2030
Above data is based on report from QYResearch: Global Non-Invasive Glucose Meter Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
Figure. Global Non-Invasive Glucose Meter Top 5 Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Above data is based on report from QYResearch: Global Non-Invasive Glucose Meter Market Report 2024-2030 (published in 2024). If you need the latest data, plaese contact QYResearch.
This report profiles key players of Non-Invasive Glucose Meter such as Cnoga Medical, GlucoTrack, Ghalife.
In 2023, the global top five Non-Invasive Glucose Meter players account for 78% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Non-Invasive Glucose Meter.
Main Drivers:
Increase in D1 diabetes patients
Apart from heart-related diseases, diabetes is considered to be one of the most serious diseases plaguing people today. In fact, it's also known as the "silent killer" because it's often too late to diagnose. After all, monitoring blood sugar or blood sugar levels is indeed a painful process that most people (including diabetics themselves) avoid doing. There is a huge and urgent need for non-invasive blood glucose monitoring solutions.
Discomfort of D2 Invasive Devices
Diabetes affects more than 537 million adults worldwide. People with diabetes must test their blood sugar levels multiple times a day, usually by pricking their finger with a lancet. This can be uncomfortable and painful for many people, resulting in less frequent testing and thus poorer control of blood sugar levels. So the potential advantages of non-invasive devices are huge.
D3 has a large market share, and many manufacturers have entered the market, which will also promote the development and commercialization of non-invasive blood glucose meters.
Chicago-based Abbott Laboratories and San Diego-based Dexcom are the two top sellers of continuous glucose monitors vying for a share of the global diabetes technology market. The battle has moved onto television screens, magazine ads and online as both companies try to attract millions more potential customers. The entry and marketing of many manufacturers have promoted the prosperous development of the market. Non-invasive blood glucose meters are still in the early stages of industry development, and it is a track with long slopes and thick snow.
Risk Factors:
High investment, low return
The research and development of medical devices always goes through multiple stages of trials before they have a chance to be approved for marketing. This process lasts for several years or even decades, and has high R&D difficulty and R&D threshold. Start-up companies often need multiple rounds of financing to have enough funding. The funds for research and development are also faced with the risk of project failure at any time. Apple has been researching and developing the non-invasive blood glucose meter project for 12 years, spending a huge amount of US dollars and a large number of engineering human resources. Google has abandoned the research and development project after years of unsuccessful research and development.
Requires both business and medical accreditation
As medical-grade devices, non-invasive blood glucose meters require medical testing and clinical certification (CE, FDA, Anvisa) approval, requiring clinical accuracy of the product. If it is a consumer product, you must consider the audience (type 1 and type 2 diabetics and healthy groups), consider whether insurance companies will cover people who do not take insulin, and consider price issues. To successfully launch consumer-grade technology, companies must focus on factors beyond regulatory scrutiny and medical accuracy. The value proposition and marketing strategies for non-invasive devices in the consumer market differ from those in the medical device market. Companies in this space need to develop organizational capabilities to meet consumers' unique needs and preferences, such as design, aesthetics, and functionality, rather than relying solely on traditional medical technology capabilities.
Technical and Regulatory Issues
Some device manufacturers and startups have struggled to improve the accuracy and reliability of measurement technology and have therefore failed to bring non-invasive devices to market. The challenge is to reduce differences due to skin color, temperature, humidity and glucose metabolism. In addition to the core measurement of high blood sugar levels, another issue is reliably monitoring life-threatening hypoglycemia, which can occur due to excess insulin. Even tech giants like Apple have had challenges with the practicality of their proof-of-concept devices, especially when it comes to size.
In addition to technical difficulties, regulatory hurdles must also be considered. In the United States, the Food and Drug Administration has prioritized the accuracy and reliability of medical devices, including blood glucose monitors, but has yet to approve the first truly non-invasive device. Meanwhile, in Europe, stricter EU medical device regulations taking effect in 2021 will require companies to comply with new regulations when developing and launching non-invasive blood glucose monitoring devices, which may create additional challenges. There is currently no precedent for approval of non-invasive devices in Europe. Different countries have different regulatory standards for medical devices. There are some products that have not been approved by the US FDA but have been approved for marketing in Europe.
CGM minimally invasive products occupy market share
At present, there are many CGM products occupying the market share, the overall market is stable, and insurance companies in Europe and the United States will bear reasonable expenses, thereby reducing consumer investment and conducive to the development of the CGM market. If non-invasive blood glucose meters are not technologically and price wise, Any advantages and attractions also face the risk of new product market development.
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