Non-invasive biosensors are devices that can detect and monitor biological reactions without direct access to blood, tissue or other bodily fluids. These biosensors utilize various techniques such as optical, thermal, ultrasonic to detect analytes through skin, hair or nails. Some key applications of non-invasive biosensors include blood glucose monitoring, disease screening, trauma screening and athletic performance monitoring. Glucose biosensors allow continuous monitoring of blood glucose levels in diabetes patients without the need for direct blood sampling through finger pricks. Other non-invasive biosensors can screen for diseases such as cancer, cardiac disorders and monitor health conditions through simple breath or urine tests. With growing emphasis on point-of-care testing, the demand for easy-to-use, cost-effective and non-invasive biosensors is increasing rapidly.
The global non-invasive biosensors market is estimated to be valued at US$ 29.84 billion 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 Dynamics
Rising demand for point-of-care testing and remote patient monitoring is a major driver fueling the growth of non-invasive biosensors market. Point-of-care devices equipped with non-invasive biosensors allow conducting tests outside of conventional laboratory environments and provide quick diagnosis at the time and place of patient care. This not only improves patient monitoring but also enhances accessibility of healthcare. Additionally, non-invasive biosensors referred from the heading enable continuous glucose monitoring in diabetes patients without painful finger pricks. This improves patient compliance and clinical outcomes. Further, non-invasive wearable biosensors can transmit real-time physiological data to clinicians, allowing remote monitoring of patients and early disease detection. This is expected to boost the demand for non-invasive biosensors during the forecast period.
Segment Analysis
The non-invasive biosensors market is dominated by the wearable sub-segment which holds around 40% of the overall market share. Wearable devices provide convenience to patients by allowing continuous monitoring of vital health parameters without any discomfort. This has increased demand for wearables amongst both individual users and healthcare providers for remote patient monitoring.
PEST Analysis
Political: Governments across countries are supporting advancements in healthcare technologies by funding research & development initiatives. Favorable regulatory framework for speedy approval of novel medical devices is boosting market growth.
Economic: Rising healthcare expenditures driven by increasing prevalence of chronic diseases worldwide is creating opportunities. High demand for cost-effective diagnosis and treatment options is fueling demand for non-invasive biosensors.
Social: Growing health awareness and acceptance of self-monitoring devices is positively impacting the market. Elderly population opting for assistive monitoring devices to live independently.
Technological: Advancements in material sciences, microfabrication, and connectivity solutions are resulting in miniaturization of sensors. Integration of AI and IoT is further enhancing capabilities of devices.
Key Takeaways
The global Non-Invasive Biosensors Market Growth is expected to witness high growth. The global non-invasive biosensors market is estimated to be valued at US$ 29.84 billion in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.
Regional analysis comprises- North America dominates driven by availability of advanced healthcare infrastructure and early adoption of novel technologies. The Asia Pacific region is emerging as the fastest growing regional market owing to rising medical tourism, healthcare reforms and growing aging population.
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. Key players are focused on new product launches and mergers to strengthen their market position.
*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, chemical and materials, defense and aerospace, consumer goods, etc.