Diabetes cases jump as a result of pandemic royalgazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from royalgazette.com Daily Mail and Mail on Sunday newspapers.
Skin Grip specializes in ultra-strong adhesive patches for securing diabetics' glucose monitors. When a recent crisis threatened diabetic supplies in Belize, which has one of the world's highest diabetes rates, Skin Grip donated 5,000 patches.
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The global biosensors market size is anticipated to reach USD 41.8 billion by 2028 and is expected to expand at a CAGR of 7.9% from 2021 to 2028.
The rising prevalence of chronic conditions such as diabetes and obesity and the growing demand for early and accurate detection of any associated condition are the key driving factors for the market.
Furthermore, the outbreak of COVID-19 has drastically spurred the demand for point-of-care testing devices. FDA is giving fast-track approvals to the companies owing to the shortage of these devices globally.
For instance, in May 2020, Philips secured 510k FDA clearance for its wearable biosensor, which helps in managing confirmed and suspected cases of COVID-19 in hospitals, promoting biosensors technology and product development.
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This report titled needle free diabetes management market studies various device types such as treatment devices, diagnostic devices and artificial pancreas that respectively sub-segmented. According to the International Diabetes Federation, in 2015 one in 11 adult has diabetes and by 2040 it is expected that one in 10 adults will have diabetes. The data suggests that in 2015 every 6 seconds one person dies from diabetes. Thus, diabetes management is one of the most crucial parts to prevent life threatening effects of this disease. The ongoing research and development activities in field of diagnosis and treatment of diabetes are expected to change the aspect of market in coming years.
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