Global Non-invasive Diabetes Therapy Market – Insights
The global non-invasive diabetes therapy market is witnessing a positive growth since 2014. However, the market has witness low development of new devices that include, DexCom's seven system and Medtronic's Guardian real-time glucose monitoring system. The market is also witnessing entry of new market players, which is expected to boost growth of the market over the forecast period.
Global Non-invasive Diabetes Therapy Market: Drivers
High prevalence of diabetes is a major factor boosting growth of the global non-invasive diabetes therapy market over the forecast period. For instance, according to The World Health Organization, 270 million people suffered from diabetes in 2015 and the number is expected to reach 336 million by 2030.
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Moreover, increasing R&D in non-invasive systems based on photonic technology and occlusion spectroscopy technology, changing macroeconomics and consumer preference, increasing healthcare expenditure in developing regions, and changing lifestyle are some other factors that are expected to propel growth of the market. For instance, in August 2019, a team of researchers tested the efficacy of a new hormone injection that could aid weight loss in obese patients with diabetes. The approach can be a non-invasive option to gastric bypass surgery.
Global Non-invasive Diabetes Therapy Market: Regional Analysis
On the basis of region, the global non-invasive diabetes therapy market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the global non-invasive diabetes therapy market throughout the forecast period. This is attributed to factors such as presence of major market players, high prevalence of diabetes, and increasing R&D expenditure in the region. For instance, in July 2019, researchers from the University of Michigan announced an upcoming clinical trial that involves a new non-invasive, endoscopic weight-loss procedure, EndoBarrier developed by GI Dynamics Inc. The clinical trial of EndoBarrier will include individuals with type 2 diabetes and obesity.
The market in Asia Pacific is driven by high prevalence of diabetes in the region. For instance, according to International Diabetes Federation, over 490 million people in China are suffering from diabetes.
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Global Non-invasive Diabetes Therapy Market: Competition Landscape
Major players operating in the global non-invasive diabetes therapy market include, Bio Tex, Calisto Medical, DexCom, Bayer, ACON Laboratories, and B. Braun Melsungen.
Global Non-invasive Diabetes Therapy Market: Key Developments
Major players in the market are focused on adopting various inorganic growth strategies to enhance their market share. For instance, in July 2019, BioRestorative Therapies, Inc. entered a securities purchase agreement with Arena Investors LP. BioRestorative Therapies, Inc. produces non-invasive therapeutics using cell and tissue protocols and its ThermoStem program is focused on reducing obesity and risk of diabetes.
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