Hemoglobin A1c testing devices market is estimated to account for US$ 4,129.4 Mn in terms of value by the end of 2027 and Major Players Are Abbott Laboratories, ARKRAY, Inc., Bio-Rad Laboratories

Hemoglobin A1c test is a common blood test performed for diagnosis and monitoring of type 1 and type 2 diabetes. A1c test results reflect the average blood sugar levels of an individual for the past two to three months. Hemoglobin (Hb) is a protein that links with sugars such as glucose found inside red blood cells. High amount of glucose linked (glycated) with hemoglobin molecules increases the risk of diabetes. HbA1c test reports the amount of HbA1c as a proportion of total hemoglobin in the blood stream.

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Statistics:

The global hemoglobin A1c testing devices market is estimated to account for US$ 4,129.4 Mn in terms of value by the end of 2027.

Global Hemoglobin A1c Testing Devices Market: Drivers

Increasing prevalence of diabetes is expected to propel growth of the global hemoglobin A1c testing devices market over the forecast period. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Statistics:

North America held dominant position in the global hemoglobin A1c testing devices market in 2019, accounting for 36.8% share in terms of value, followed by Europe and Asia Pacific, respectively

Global Hemoglobin A1c Testing Devices Market: Restraints

High test cost is expected to hinder growth of the global hemoglobin A1c testing devices market. Laboratory testing of hemoglobin A1c is a costly and time consuming affair, which restricts patients from seeking A1C testing. Even healthcare practitioners prefer blood glucose testing in case of emergencies.

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Moreover, low adoption of hemoglobin A1c testing in emerging economies is also expected to aid in growth of the market. This is due to the lack of awareness and acceptance of hemoglobin A1c testing method by the healthcare fraternity and general population. One of the reasons for low acceptance of these solutions is the high cost compared to conventional blood glucose testing.

Global Hemoglobin A1c Testing Devices Market: Opportunities

High prevalence of undiagnosed diabetes in emerging economies is expected to offer lucrative growth opportunities for players in the market. For instance, according to the study, ‘The Economic Burden of Elevated Blood Glucose Levels in 2017: Diagnosed and Undiagnosed Diabetes, Gestational Diabetes, and Prediabetes’, published in the journal Diabetes Care, in April 2019, the economic burden associated with diagnosed diabetes, undiagnosed diabetes, prediabetes (adults), and gestational diabetes (mothers and newborns) reached US$ 327.2 billion, US$ 31.7 billion, US$ 43.4 billion for prediabetes, and US$ 1.6 billion for gestational diabetes, respectively, in 2017, in the U.S.

Moreover, introducing cost-effective HbA1c tests and devices is also expected to aid in growth of the market.

Statistics:

The global hemoglobin A1c testing devices market was valued at US$ 1,863.7 Mn in 2019 and is forecast to reach a value of US$ 4,129.4 Mn by 2027 at a CAGR of 10.5% between 2020 and 2027.

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