SEATTLE, May 28, 2018 (GLOBE NEWSWIRE) -- The non-invasive biosensors market was valued US$ 7.5 Billion in 2017 and is projected to exhibit a CAGR of 12.1% over the forecast period (2018–2026).
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Key Trends and Analysis of the Non Invasive Biosensors Market:
Increasing approval and launches of novel non-invasive biosensors is expected to fuel the market growth. For instance, in 2016, Nemaura Medical, Inc. received CE approval in the European Union for its latest sugarBEAT, a minimally invasive wireless continuous glucose monitor. Furthermore, in 2013, Integrity Applications Inc. received CE marking for its new GlucoTrack DF-F device, a non-invasive blood glucose monitoring device. Moreover, increasing research and development activities by manufacturers for introducing new non-invasive biosensors is expected to drive growth of the market. For instance, in 2017, Mclean Hospital announced its LabPatch-alcohol, which is a non-invasive skin patch to detect blood alcohol concentrations, is in clinical trial. LabPatch-alcohol is in early Phase 1 stage of clinical trial. Key players in the market are involved in strategic collaborations and are focusing on expanding its manufacturing facilities. For instance, in 2017, Integrity Applications Inc. entered into a strategic distribution partnership with MediReva B.V. According to the partnership, MediReva B.V. is expected to market Integrity Applications Inc.’s GlucoTrack in the Netherlands. Furthermore, in March 2018, Nemaura Medical, Inc. expanded its manufacturing facilities for large scale production of its new SugarBEAT CGM system.
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Key Market Takeaways:
- Non-invasive biosensors market is projected to witness CAGR of 12.1% during the forecast period (2018–2026), owing to increasing approval for novel non-invasive biosensors in key regions such as Europe
- Increasing prevalence of chronic disease such as diabetes, frequent R&D activities and robust pipeline of novel non-biosensor is expected to boost growth of the global non-invasive biosensors market in the near future.
- Strategic collaborations and business expansion by key players is also expected to drive growth of the global non-invasive biosensors market
- Major players operating in the non-invasive biosensors market include Nemaura Medical, Inc., MediWise Ltd., Integrity Applications Inc., OrSense, Medtronic Plc, GE Healthcare, Philips Healthcare, Abbott Laboratories, and Akers Biosciences, Inc.
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