June 18, 2024
Non-Invasive Biosensors Market

Non-Invasive Biosensors Market Propelled By Precision Diagnostics And Monitoring Capabilities

Non-invasive biosensors enable precision monitoring of critical biomarkers and metabolites without drawing blood or breaching the skin. By leveraging optical, electrochemical and thermal mechanisms, non-invasive biosensors can conveniently measure blood glucose, lactate, alcohol and other analytes via mediums like saliva, sweat or breath.

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:

Precision diagnostics and continuous patient monitoring are transforming healthcare with real-time insight into physiological conditions. The increasing adoption of non-invasive biosensors is being driven by their ability to conveniently and accurately measure biomarkers without needles or invasive procedures. Non-invasive platforms are empowering at-home healthcare by enabling individuals to independently track health metrics like glucose, ketone and alcohol levels via user-friendly wearables and smartphones. This is improving disease management and outcomes while reducing patient hassle and healthcare costs. Continuous monitoring solutions based on non-invasive biosensors are witness help clinicians make more informed treatment decisions through around-the-clock physiological surveillance.

SWOT Analysis

Strength: Non-invasive biosensors does not require insertion into the body and provides higher patient comfort. They are affordable and easy to use.

Weakness: Accuracy and sensitivity of non-invasive biosensors are relatively lower compared to invasive biosensors. Environmental factors can interfere with readings.

Opportunity: Rising demand for remote patient monitoring and increasing applications across various industries like food, agriculture offers significant growth opportunities.

Threats: Presence of substitutes like wearable medical devices poses competition. Stringent regulations for approval delays market entry.

Key Takeaways

The Global Non-Invasive Biosensors Market Size is expected to witness high growth. It is estimated to reach a value of US$ 29.84 Bn by 2023 expanding at a CAGR of 5.5% during the forecast period of 2023 to 2030.

Regional analysis: North America dominates the market currently due to increased healthcare spending and early technology adoption. Asia Pacific is expected to offer lucrative growth opportunities owing to rising healthcare expenditure, large patient pool and favourable government initiatives in countries like India and China.

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. These companies are focusing on new product launches and partnerships to strengthen their market position.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it