Glucose Biosensors Market - Global Industry Analysis And Forecast 2014 - 2020
Glucose biosensors are the devices used for measuring the concentration of glucose in blood of diabetic patient with the help of sensitive protein present in glucose biosensor. Glucose biosensors have major application in point of care testing, home care diagnostics and research laboratories. On the basis of the method of detecting glucose concentration in blood, glucose biosensors market is categorized into two segments which include:
Amprometric glucose biosensors
Fluorescence glucose biosensors
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Currently, most of the commercially available glucose biosensors are amprometric glucose biosensors. These biosensors operate by the means of glucose oxidase, which oxidizes glucose leading to production of hydrogen peroxide, which is detected by electrode and the concentration of glucose is analyzed. But with the innovations and advantages, fluorescent glucose biosensors are taking over the glucose biosensors market. Fluoroscence biosensors rely on fluorescence technique for measuring concentration of blood glucose resulting in more accurate results. The long working life of the probe in comparison to amprometric glucose biosensors is also helping fluorescence glucose biosensors market to grow.
Glucose biosensors market is growing at faster pace majorly due to high prevalence of diabetes coupled with increasing ageing population. According to the World Health Organization, in 2013 there were 347 million people suffering from diabetes and number is expected to increase to 552 million by 2030. Moreover, the glucose biosensors market is identified by cut-throat competition as these products had turned out into commodities leading to decline in prices, indulgence of competitive technologies and shorter market cycles. This extensive competition has resulted in development of user-friendly designs, point-of-care application and affordability prices of the device which is further helping the market to grow at rapid rate.
In addition to the above factors, the extensive research and development activities is also driving the market for glucose biosensors. Industrial and university researchers are involved in conducting research to develop novel platforms for highly sensitive, accurate and pain-free diagnostics. Efforts are also directed towards developing glucose biosensors on the basis of nanotechnology leading to the glucose biosensors which will be cheaper and compact in size. Some of the market players are also trying to develop biosensors that will be focused on multiple applications in addition to the glucose monitoring. As recently, Abbott point-of-care, Inc. has launched portable biosensor with the name i-STAT system which enables health care professional to access real time, lab-quality results within minutes and the system is designed such that it could benefit almost all the departments of the hospitals including surgical services, neonatal ICU, cardiology lab, radiology and respiratory therapy.
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