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Hemoglobin A1c Testing Devices Market To Reach US$ 4,074.6 Mn By 2026: TMR

12-06-2021 09:33 AM CET | Health & Medicine

Press release from: Transparency Market Research

Hemoglobin A1c Testing Devices Market To Reach US$ 4,074.6 Mn

Transparency Market Research (TMR) has published a new report titled ‘Hemoglobin A1c Testing Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global hemoglobin A1c testing devices market was valued at US$ 1,540.7 Mn in 2017. It is projected to expand at a CAGR of over 10.4% from 2018 to 2026. Increase in the geriatric population, employer- sponsored medical programs, rise in medical tourism, and increase in the prevalence and incidence of diabetes contribute to the growth of the market.

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Boronate Affinity Chromatography Segment to Expand at a High CAGR

The report offers detailed segmentation of the global hemoglobin A1c testing devices market. Based on technology, the market has been segmented into ion-exchange high performance liquid chromatography (HPLC), immunoassay, boronate affinity chromatography, direct enzymatic assay, and others. The ion-exchange HPLC segment dominated the market in 2017 and is likely to remain dominant in terms of revenues during the forecast period. However, the boronate affinity chromatography segment is likely to expand at a high CAGR during the forecast period. The growth of the segment can be attributed to the low cost of testing compared to the HPLC technology. The linearity range for HbA1c detection using BAC is 5.3% to 17.0%. According to the clinical trials report of the Endocrinología y Nutrición journal, published in 2015, the Afinion AS100 System (Axis-Shield Diagnostics Ltd.) and In2it (Bio-Rad Laboratories, Inc.) are types of boronate affinity chromatography systems that are not affected by the volume of carbamyl Hb produced during Hb testing. This is expected to increase usage of boronate affinity chromatography in the near future.

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Point-of-care (POC) Settings Segment to Expand Rapidly

Based on end-user, the market has been classified into laboratory testing and point-of-care (POC) settings. The laboratory settings segment dominated the market in 2017. It is anticipated to remain dominant in terms of revenues during the forecast period. However, the POC settings segment is likely to expand at a high CAGR in the coming years. The growth of the segment can be attributed to an increase in the incidence of hospitalization and rise in the geriatric population. A rise in the number of public-private partnerships is expected to augment the segment in the coming years. According to the American Diabetes Association, point-of-care (POC) testing for HbA1c to offers an opportunity for more timely treatment changes. The International Diabetes Federation (IDF) recommends that the determination of HbA1c either at the POC or in the laboratory should be done before clinical consultation.

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Market in Asia Pacific to be Driven by an Increase in the Prevalence and Incidence of Diabetes

In terms of revenue, North America dominated the global hemoglobin A1c testing devices market in 2017. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The ever-increasing population in the region, unmet medical needs, and rise in the prevalence and incidence of diabetes diseases are some of the factors expected to drive the hemoglobin A1c testing devices market in Asia Pacific during the forecast period. A rise in the number of research and development centers for the detection of HbA1c, launch of new DEA devices by major players, favorable reimbursement policies, and expansion of distribution network for HbA1c test devices by key players are anticipated to propel the segment during the forecast period.

Product Launches is the Primary Strategy Adopted by Market Players

The report also provides profiles of leading players operating in the global hemoglobin A1c testing devices market. Leading market players include Siemens Healthineers, Abbott Laboratories, ARKRAY, Inc., Bio-Rad Laboratories, Inc., Polymer Technology Systems, Inc., Danaher Corporation (Beckman Coulter), EKF Diagnostics Holdings plc, F. Hoffmann-La Roche Ltd., Menarini Group, Sebia, Tosoh Corporation, and Trinity Biotech plc. Market players have adopted the strategy of product launches to enhance their customer base. For instance, in 2016, Arkray, Inc. introduced the Glucocard product line in Japan. The device will help patients to receive accurate information about their condition and monitor blood glucose levels.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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