Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Glycated Hemoglobin Testing market.
Trusted Business Insights presents an updated and Latest Study on Glycated Hemoglobin Testing Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Glycated Hemoglobin Testing market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global glycated hemoglobin testing market is projected to reach a value of over US$ 650 Mn in 2026 at a CAGR of 8.6% over the forecast period. The report offers in-depth insights, revenue details, and other vital information regarding the global glycated hemoglobin testing market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2022. The report also offers insightful and detailed information regarding the various key players operating in the global glycated hemoglobin testing market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global glycated hemoglobin testing market is segmented on the basis of type, technique, end user, and region.
Glycated hemoglobin testing is used to measure concentration of blood glucose in individuals. HbA1c, is a chemical form of glycated hemoglobin, a protein within red blood cells that carries oxygen throughout your body, joins with glucose in the blood, becoming glycated. It is used to determine average glucose level in persons blood over a period of time. Glycosylated hemoglobin test shows persons average blood glucose level for two to three months before the test. This can help to determine how well a persons diabetes is being controlled over time. High blood glucose level causes glucose molecules to attach the hemoglobin in red blood cells. The longer hyperglycemia occurs in blood, the more glucose binds to hemoglobin in the red blood cells and the higher the glycated hemoglobin. Test results may differ depending on the analytical technique, age of the patient, and biological variation among individuals. Two individuals with the same average blood sugar can have HbA1c values that differ by as much as three percentage points
Global Glycated Hemoglobin Testing Market Dynamics:
Increasing prevalence of diabetes mellitus and development in diagnosis devices for diabetes are major factors driving growth of the global glycated hemoglobin testing market. In addition, rising demand for rapid diagnostics tools and growing home healthcare market are other major factors expected to drive growth of the global glycated hemoglobin testing market over the forecast period.
However, high capital cost and existence of alternate hemoglobin testing practices are key factors expected to hinder growth of the global glycated hemoglobin testing market over the forecast period.
Growing preference for portable point-of-care testing devices is expected to create high potential revenue opportunities for existing as well as new entrants in the target market.
Ongoing trend observed in the market is the increasing preference for point of care (POC) HbA1c testing among the users, owing to factors such as faster test results and enables faster prognosis of the associated disease in the patient. This testing has been majorly adopted by the diabetes clinics across the may improve patient adherence by lessening transportation time and cost barriers associated with extra office and laboratory visits.
Market Analysis by Test:
On the basis of type segmentation, lab based test segment is expected to contribute major revenue share and CAGR of over 7.5%, in terms of revenue over the forecast period.
The point-of-care test segment in the global glycated hemoglobin testing market is expected to register highest CAGR of over 8%, in terms of revenue over the forecast period.
Analysis by Technique:
Among technique segments, immunoassay segment is expected to register highest CAGR of 8% owing to increasing preference for immunoassay technique as it is affordable, and easy to operate.
Chromatography segment in the global glycated hemoglobin testing market is accounted for largest market share in terms of revenue over the forecast period.
Others segments include enzymatic, electrochemical biosensor, and capillary electrophoresis.
Analysis by End User:
Among end user segments, hospital segment is expected to contribute major revenue share and witness highest CAGR of over 4.0%, in terms of revenue over the forecast period, owing to presence of both lab-based testing and point-of-care testing (POCT) facilities at single point
Others segment in the global glycated hemoglobin testing market includes clinics and medical centers.
Analysis by Region:
North America market is expected to dominate the global glycated hemoglobin testing market, and accounts for largest market revenue share over 30% in 2017 as compared to that of markets in other regions. Dominance by North America market is expected to continue over the forecast period owing to higher demand from consumers in countries such as the US and Canada. Other factors include presence of leading manufacturers in these countries, and an increasing consumer base adopting portable point-of-care testing (POCT) devices in countries in this region. Furthermore, high prevalence rate coupled with increasing incidence of chronic diseases especially diabetes, and technological advancements in monitoring equipment used by glycated hemoglobin testing in countries in North America is fueling growth to the North America glycated hemoglobin testing market.
Technological advancements in glycated hemoglobin testing market, coupled with prominent manufacturers developing portable testing devices are other major factors expected to boost growth of the North America glycated hemoglobin testing market over the forecast period. In 2015 for instance, Bio-Rad Laboratories, Inc. launched its VARIANT II TURBO HbA1c Kit – 2.0 for diagnosing diabetes.
Revenue contribution from market in the US was estimated to be 2.6 times that that of the revenue contributed from market in Canada in the North America glycated hemoglobin testing market
In 2016, Europe accounted for the second largest revenue share contribution to the global glycated hemoglobin testing market followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. Increasing incidence coupled with high prevalence rate of diabetes is a major factor driving growth of the Europe glycated hemoglobin testing market. Moreover, favorable government policies for support of diabetes testing & management is another factor expected to contribute growth of the Europe glycated hemoglobin testing market over the forecast period.
Revenue contribution from market in the France was estimated to be 1.8 times that that of the revenue contributed from market in Italy in the Europe glycated hemoglobin testing market.
The market in Asia Pacific is expected to witness considerable growth and is expected to register highest CAGR of over 8% over the forecast period.
Significant growth in geriatric population in emerging economies such as China, Japan, and South Korea and growing awareness among them about health is contributing towards increase in demand for early diagnosis of diseases are other factors expected to drive growth of the Asia Pacific glycated hemoglobin testing market over the forecast period.
The market in China accounted for highest revenue share in the Asia Pacific glycated hemoglobin testing market in 2016, and is expected to maintain its dominance over the forecast period.
Revenue contribution from the market in Japan is estimated to be 0.8 times the revenue contributed from the glycated hemoglobin testing market in China.
Global glycated hemoglobin testing market segmentation, by test:
- Lab based test
- Point-of-care test
Global glycated hemoglobin testing market segmentation, by technique:
Global glycated hemoglobin testing market segmentation, by end user:
- Diagnostic Centers
- Academic and Research Institutes
Key Market Players included in the report: Global Glycated Hemoglobin Testing Market
- Abbott Laboratories
- Hoffmann-La Roche
- Beckman Coulter, Inc.
- Bio-Rad Laboratories
- Bayer AG
- Tosoh Corporation
- Siemens AG
Key Insights Covered: Global Glycated Hemoglobin Testing Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Glycated Hemoglobin Testing industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Glycated Hemoglobin Testing industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Glycated Hemoglobin Testing industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Glycated Hemoglobin Testing industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Glycated Hemoglobin Testing industry.
Research Methodology: Global Glycated Hemoglobin Testing Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
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