Non-invasive biosensors are medical devices used for the detection of various biological and physiological parameters in the human body without any invasive procedures. These biosensors detect analytes such as glucose, lactate, nitric oxide, cholesterol, and cancer markers in sweat, tears, and breath. Advancements in non-invasive biosensors would enable constant health monitoring, early disease diagnosis, and disease management. Some key applications of non-invasive biosensors include glucose monitoring, cancer screening, diagnosis of infectious diseases, heart rate monitoring, blood pressure monitoring, and respiratory disease monitoring.
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.
Researchers are developing novel technologies such as microfluidics, nanotechnology, and semiconductor technology for the development of highly sensitive, selective, stable, and cost-effective non-invasive biosensors. For instance, microfluidic systems allow miniaturization of biosensors enabling low sample and reagent consumption, high sensitivity, integrability, and portability.
Growing Adoption of Wireless and Wearable Biosensors: Increasing adoption of wireless and wearable biosensing devices for real-time health monitoring is also expected to propel market growth. Wireless and wearable biosensor devices allow continuous monitoring of vital health parameters without any restrictions of movement. This helps in early detection of health abnormalities, timely diagnosis of diseases, and remote patient monitoring. Various players are focusing on the development of wearable biosensing patches and bands for applications such as glucose monitoring and cardiac monitoring.
The non-invasive biosensors market is dominated by the wearables sub-segment which holds around 35% market share. This is because wearables such as fitness trackers and smartwatches have gained immense popularity for tracking vital health parameters in a non-invasive manner. Devices such as smartwatches and bands that monitor heart rate, sleep patterns and other biometrics are seeing strong demand.
Political: Governments across countries are supporting initiatives for development and use of non-invasive technologies that can help reduce healthcare costs. Various regulatory approvals are being granted to new non-invasive devices.
Economic: The aging population globally is driving increased healthcare expenditure which is encouraging investments in cost-effective non-invasive monitoring solutions by healthcare providers and insurers.
Social: Rising health awareness and focus on preventive healthcare is increasing adoption of non-invasive devices for self-monitoring of various health parameters. Social trends like quantified self are popularizing wearable devices.
Technological: Advancements in miniaturization, sensor technology, wireless connectivity and data analytics are enabling creation of sophisticated yet affordable non-invasive monitoring systems. Integration of AI and IoT is further enhancing the capabilities of these devices.
The Global Non-Invasive Biosensors Market Size is expected to witness high growth over the forecast period supported by increasing consumer preference for convenient monitoring solutions and growing emphasis on preventive healthcare.
Regional analysis: North America dominates currently due to advanced healthcare infrastructure and high consumer demand for technologically advanced wearables. However, Asia Pacific is anticipated to emerge as the fastest growing region on the back of rising medical tourism, growing health awareness and improving reimbursement scenarios in countries like China and India.
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. Key players are focusing on product innovations through R&D and partnerships to consolidate their position in this rapidly evolving market space.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it