Value Market Research has recently announced a new market research report on the Global HbA1c Testing market. The analysis shows that the market was valued at USD 1.9 BN (by revenue) in 2018 and is anticipated to reach USD 3.9 BN by 2025. The market expects a whooping CAGR of 10.5% between 2019 and 2025. The study explores the future growth path detailing on market trends, drivers, restraints along with the key developments in the past.
The report coversthe segmentation by type, technology, end-user, and region. The type segment has been bifurcated into handheld device and bench-top device. Bench-top device is expected to show a high growth in the market since they are easy to handle and this device shows fastest & accurate results. By technology the market is split into ion-exchange HPLC, enzymatic assay, affinity binding chromatography, turbidimetric inhibition immunoassay, and other. Ion-exchange HPLC is dominating the segment since this technique meets the requirements of quality, precision, and high throughput, and also help in identify Hb variants. By end-user, the market has been segmented into hospital, homecare, and diagnostic laboratory. Out of which, Diagnostic laboratory is leading the segment owing to the presence of a large number of diagnostic laboratory worldwide coupled with the rising adoption of a point of care devices in hospital settings. Also, rising support by the government in terms of funds for enhancing healthcare infrastructure and to introduce advanced healthcare equipment is again fueling segment growth.
The report “Global HbA1c Testing Market Report By Device Type (Handheld Device and Bench-top Device), Technology (Ion-exchange HPLC, Enzymatic Assay, Affinity Binding Chromatography, Turbidimetric Inhibition Immunoassay, And Other), End-User (Hospital, Homecare, And Diagnostic Laboratory) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2018 - 2025" include expert insights on global industries, products, and market trends.
A hemoglobin A1C (HbA1c) test measures the amount of blood sugar (glucose) present in the hemoglobin. Hemoglobin is the part of red blood cells that carries oxygen from the lungs to the rest of the body organs and tissues. Basically, this HbA1c test is used to measure the average amount of glucose attached/present to hemoglobin over the last three months. Basically, the three-month duration is considered because that's typically how long a red blood cell lives. If the HbA1c levels are high in blood, it may be a sign of diabetes, a chronic condition that can cause serious health problems.
The market of HbA1c testing is highly competitive owing to a presence of large number of participants in the industry. Growth in the diabetic population across the globe along with the increase in the awareness level pertaining to preventive care is expected to propel the market growth. Also, the penetration of advanced technologies for measuring HbA1c is expected to increase the sales of the product. On the downside, rising product cost and lack of accuracy in the derived outcomes observed from clinical tests performed is presumed to restrict the market growth. Nevertheless, untapped market potential and the rising popularity of medical tourism worldwide is projected to offer lucrative opportunities for the industry growth in the years to come.
Geographical segmentation has been done across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Currently, North America is ruling in the global HbA1c testing devices market owing to the presence of advanced healthcare infrastructure within the region. Also, greater availability of novel diagnostic tools along with the high prevalence of diabetes is further fueling the market growth in the region.
The Report Segments Global HbA1c Testing Market -
By Device Type
Major Players Profiled In The Report:
Abbott Laboratories, Alere, Inc., Arkray, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Siemens Healthcare, TransasiaBiomedicals ltd., and Trinity Biotech plc.
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