The global non-invasive biosensors market was valued at USD 2.7 billion in 2017 and is projected to exhibit a CAGR of 12.1 percent during 2018–2026. Increasing approval for novel non-invasive biosensors is expected to be a major factor driving growth of the non-invasive biosensors market. For instance, in 2013, Integrity Applications Inc. received CE marking for its new GlucoTrack DF-F device, a non-invasive blood glucose monitoring device. In 2015, Integrity Applications Inc. again received CE approval for its improved version of GlucoTrack DF-F device. The new improved version of GlucoTrack DF-F device has reduced the procedure time from two and half hours to just thirty minutes. In 2016, CNOGA Medical Ltd. received Brazilian National Health Surveillance Agency (ANVISA – Agência Nacional de Vigilância Sanitária) approval to market its new TensorTip COG non-invasive combo Glucometer device in Brazil.
Increasing R&D activities by key players for gaining approval for novel non-invasive biosensors and presence of products in pipeline is also expected to drive growth of the market. For instance, in 2017. Mclean Hospital announced its LabPatch-alcohol is a non-invasive skin patch to detect blood alcohol concentrations was in clinical trial. LabPatch-alcohol is in early Phase 1 stage of clinical trial. Key players in the market are focused on strategic collaborations for distribution of its novel non-invasive biosensors globally. For instance, in 2017, Integrity Applications Inc. entered into strategic distribution partnership with MediReva B.V. According to partnership, MediReva B.V. will market Integrity Applications Inc.’s GlucoTrack in the Netherlands. Such strategic collaborations are expected to create a lucrative environment for growth of global non-invasive biosensor market in the near future. – Coherent Market Insights