February 09, 2024
Boston: “According to the latest BCCResearch study, the demand for Hemoglobin A1c Testing Devices and Kits Market is estimated to increase from $2.1 billion in 2023to reach $3.2 billion by 2028, at a compound annual growth rate (CAGR) of9.2% from 2023through 2028.”
This comprehensive report is designed to offer a thorough exploration of the global market for Hemoglobin A1c Testing Devices & Kits. It provides an in-depth analysis of various types of products and technologies within this domain, offering insights into their current and historical market revenues. The report not only delves into the implications of emerging trends but also contextualizes them within the prevailing size and growth dynamics of the diabetes market on a global scale, with a focus on key national markets. Extensive discussions on companies operating in the pharmaceutical and medical industries are included, featuring profiles of industry leaders and updates on mergers and acquisitions. Additionally, the report furnishes five-year global sales forecasts for prominent drug and device categories, accompanied by a breakdown of the diabetes market by country. Detailed examinations of major players, competitive intelligence, innovative technologies, market dynamics, and regional opportunities are provided, with a special emphasis on recent developments and product portfolios. The market analysis encompasses estimations of the compound annual growth rate (CAGR) for Hemoglobin A1c Testing Devices and Kits. Geographically, the report segments the global market into North America, Europe, Asia-Pacific, and the Rest of the World, providing market estimates for the base year 2022, along with projections through the end of 2028.
The global prevalence of diabetes, affecting 422 million individuals, is particularly pronounced in low- and middle-income countries, where point-of-care units and HbA1c testing technology are less developed. Insufficient awareness programs and government initiatives contribute to the leading cause of diabetes in these regions. Focusing on expanding into these underserved areas and implementing awareness programs can play a pivotal role in preventing the occurrence of this chronic disease. The slower diagnosis and progression of the disease due to a lack of testing underscore the urgent need for accessible and efficient testing procedures. The report also sheds light on diabetes as a silent and pervasive threat, affecting individuals of different age groups, including women and children. Alarming statistics reveal over 6.7 million deaths from diabetes complications among individuals aged 20-79. The study highlights the disparity in HbA1c testing awareness and availability in small, low-income countries, emphasizing the role of ethics and religion in hindering testing adoption. Post-pandemic, a noteworthy shift towards home care testing procedures, particularly home A1c testing, has emerged, facilitating telemedicine and aiding patients in rural or remote areas with limited access to healthcare. Notably, research papers indicate a potential link between diabetes and pancreatic cancer, emphasizing the critical role of HbA1c testing in early diagnosis and prevention.
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Key Drivers ofHemoglobin A1c Testing Devices and Kits Market
Incidence and Prevalence of Diabetes:The escalating incidence and prevalence of diabetes worldwide stand out as a key driver shaping the dynamics of the diabetes market. With a staggering 422 million people affected globally, the disease has reached epidemic proportions. This surge underscores the pressing need for advanced and accessible diagnostic and treatment solutions to effectively address the growing diabetes burden.
Next Generation of Type 2 Diabetes Treatment:The ongoing evolution of the next generation of type 2 diabetes treatments serves as a significant driver propelling advancements in the diabetes market. As researchers and pharmaceutical companies delve into innovative therapeutic approaches, there is a palpable shift towards more targeted, efficient, and patient-friendly treatment options. This continuous development is crucial in improving patient outcomes and enhancing the overall management of diabetes.
Growing Recognition and Awareness of Diabetes as a Global Epidemic:The increasing recognition and awareness of diabetes as a global epidemic play a pivotal role in shaping market dynamics. The acknowledgment of diabetes not only as a widespread health concern but as a global crisis have prompted heightened efforts in research, education, and public health initiatives. This collective awareness fosters collaborations among stakeholders, driving innovation and solutions that address the multifaceted challenges posed by diabetes on a global scale.
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Report Synopsis
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Report Metrics
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Details
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Base year considered
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2022
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Forecast Period considered
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2023-2028
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Base year market size
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$1.9 billion
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Market Size Forecast
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$3.2 billion
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Growth Rate
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CAGR of 9.2% for the forecast period of 2023-2028
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Segment Covered
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Technology, End-User, Region, and Country
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Regions covered
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North America, Europe, Asia-Pacific, and Rest of World
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Countries covered
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U.S., Canada, Mexico, France, Germany, U.K., Italy, Spain, China, India, Australia & New Zealand, Japan, GCC countries, and Brazil
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Key Market Drivers
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Hemoglobin A1c Testing Devices and Kits MarketSegmentation:
Technology Segmentation:
The technology segmentation in the field of diabetes diagnostics encompasses various sophisticated techniques, each playing a distinctive role in the accurate assessment of hemoglobin A1c (HbA1c) levels. High-Performance Liquid Chromatography (HPLC) stands out as a cornerstone technology, allowing for precise separation and quantification of HbA1c molecules. Within HPLC, Cation-Exchange HPLC is a specialized technique leveraging the charge properties of molecules for separation, while Boronate affinity chromatography employs the specific interaction between boronate groups and cis-diol groups in the HbA1c structure. Complementing chromatographic methods, Capillary Electrophoresis (CE) offers a platform for separating and analyzing charged species, providing valuable insights into HbA1c variants. Immunoassay, another key assay technique, utilizes the binding specificity of antibodies to quantify HbA1c levels accurately. This technology excels in its sensitivity, enabling the detection of minute concentrations of HbA1c, making it an integral component in the diverse technological landscape of diabetes diagnostics.
End-User Segmentation:
The end-user segmentation in diabetes diagnostics encompasses a diverse array of settings, each catering to specific needs in the diagnosis and management of the condition. Commercial laboratories, equipped with advanced diagnostic infrastructure, serve as pivotal hubs for comprehensive testing, offering a wide range of services to individuals seeking precise and detailed assessments of their glycemic control. In contrast, point-of-care settings play a crucial role in delivering rapid and on-the-spot results, making them particularly valuable in urgent medical situations. Hospitals, as central healthcare institutions, serve as integral end-users, providing a spectrum of diabetes diagnostic services within a clinical setting. The home care segment reflects the growing trend of self-monitoring, where individuals can conveniently conduct diabetes tests in the comfort of their homes. Clinics, serving as accessible healthcare facilities, contribute to diabetes diagnostics by offering routine testing and monitoring. Lastly, the category of "Other POCP" encompasses various alternative point-of-care settings, such as pharmacies or community health centers, further diversifying the avenues for diabetes diagnostics tailored to different end-user preferences and needs.
This report on Hemoglobin A1c Testing Devices and Kits Marketprovides comprehensive insights and analysis, addressing the following key questions:
What is the projected market size and growth rate of the market?
What are the key factors driving the growth of the market?
What segments are covered in the market?
By Service Type, which segment will dominate the market by the end of 2028?
Which region has the highest market share in the market?
Some of the Key Market Players Are:
ABBOTT
ARKRAY INC.
BAYER AG
BIO-RAD LABORATORIES INC.
DANAHER CORP.
EKF DIAGNOSTICS HOLDINGS PLC
F. HOFFMANN-LA ROCHE LTD.
LUMIRADX
MERIL LIFE SCIENCES PVT. LTD.
OSANG HEALTHCARE CO. LTD.
SIEMENS HEALTHCARE GMBH
SINOCARE INC.
THERMO FISHER SCIENTIFIC INC.
TRINITY BIOTECH PLC
WUXI BIOHERMES BIOMEDICAL TECHNOLOGY CO. LTD.
XIAMEN BIOTIME BIOTECHNOLOGY CO. LTD.
Browse More Related Reports:
Continuous Glucose Monitoring (CGM): Technologies and Global Markets:This comprehensive study delves into the expansive scope of the diabetes management market, encompassing current and forecast markets for various essential components. It scrutinizes glucose monitoring, connected pumps, pens, self-monitoring blood glucose (SMBG) meters, and test strips. The segmentation covers continuous glucose monitoring (CGM) transmitters, receivers, sensors, as well as smart pumps and pens, ensuring a holistic examination of the diverse elements within the diabetes management landscape. Notably, the inclusion of SMBG equipment and test strips, with a focus on all types used in conjunction with SMBG, provides a nuanced understanding of the market dynamics. The report not only analyzes market opportunities but also delves into the patent scenario, offering insights into market projections, shares, and the competitive landscape. Moreover, it incorporates discussions on key company profiles and addresses the crucial aspect of the COVID-19 impact on the CGM market, ensuring a thorough exploration of the current and evolving diabetes management ecosystem.
Global Markets for Diabetes Therapeutics and Diagnostics:This comprehensive report provides a detailed exploration of the diabetes market, offering valuable insights into its current size, growth trajectory, and global landscape. Extensive discussions delve into the pharmaceutical and medical industries, profiling industry leaders and providing updates on mergers and acquisitions. The inclusion of five-year global sales forecasts for leading drug and device categories, coupled with country-level breakdowns, adds granularity to the analysis. Major players, competitive intelligence, innovative technologies, and regional opportunities are scrutinized, with a focus on recent developments and product portfolios. The patent analysis sheds light on technological trends in key regions like the U.S., Europe, and Japan. Furthermore, the report conducts a thorough market analysis, estimating the compound annual growth rate (CAGR) for the diabetes therapeutics and diagnostics market. Geographically, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World, providing market estimates from the base year 2022, with forecasts extending through year-end 2028. This holistic examination ensures a comprehensive understanding of the evolving landscape of diabetes therapeutics and diagnostics.
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Hemoglobin A1c Testing Devices and Kits Market( MDS095A )
Publish Date: Sep 2023
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