by Non-invasive biosensors play a crucial role in disease diagnosis and health monitoring by sensing and measuring biological parameters without disrupting the natural state of the living tissue or organ. Some key advantages of non-invasive biosensors include minimal patient discomfort, reduced risk of infection, and faster recovery time. The growing prevalence of chronic and lifestyle diseases has increased the demand for non-invasive diagnostic and monitoring devices.
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 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Several technological advancements have enhanced the accuracy and reliability of non-invasive measurement techniques. For instance, optical-based biosensors use light-emitting diodes and photodetectors integrated into electronic circuitry for non-invasively measuring analytes through bodily fluids and tissues. The deployment of artificial intelligence and IoT connectivity has further enabled continuous remote monitoring of vital health parameters. This helps in early disease detection and timely intervention. Such developments are expected to boost the demand for non-invasive medical devices, thereby propelling the non-invasive biosensors market during the forecast period.
SWOT Analysis
Strength: Non-invasive biosensors have the advantage of being pain-free and leaving no scars or wounds. They are also easy to use and remove.
Weakness: Accuracy and reliability can still be improved for some non-invasive testing methods. Costs are generally higher than invasive alternatives.
Opportunity: Growing aging population and increased focus on preventive healthcare is driving demand for remote, pain-free monitoring solutions. New technologies are expanding the types of health data that can be gathered non-invasively.
Threats: Reimbursement challenges for some new non-invasive devices and testing methods. Invasive methods still preferred in some clinical situations.
Key Takeaways
The Global Non-Invasive Biosensors Market Size is expected to witness high growth over the forecast period of 2023 to 2030 due to the increasing demand for remote patient monitoring and emphasis on preventive healthcare.
North America is currently the largest and fastest growing regional market for non-invasive biosensors due to widespread medical insurance coverage and availability of advanced healthcare infrastructure and facilities in the region. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period, with China and India being major contributors.
Key players operating in the non-invasive biosensors market are Intuitive Surgical, Think Surgical, Asensus Surgical US, Inc., Zimmer Biomet, Stryker, Smith & Nephew, Novus Health Products, and Medtronic. These key players are focusing on developing innovative non-invasive devices through investments in R&D as well as partnerships and acquisitions to strengthen their positions in the market.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
