Glycated Albumin Assay Market Detailed Analysis of Current Scenario with Growth Forecasts to 2030 | Biocompare, EFK Diagnostics, Elabscience Biotechnology Inc., Abbot

According to Coherent Market Insights, global glycated albumin assay market is estimated to be valued at US$ 571.0 million in 2023 and is expected to exhibit a CAGR of 8.07% during the forecast period (2023-2030).

Glycated albumin assay is a medical test that measures the level of glycated albumin in the blood. It provides an alternative way to monitor average blood sugar levels over a shorter period of 2-3 weeks as compared to hemoglobin A1c test which reflects blood sugar levels over past 2-3 months.

Market Dynamics:

The glycated albumin assay market is expected to witness significant growth due to increasing prevalence of diabetes globally and growing awareness about glycemic control among patients and physicians for effective diabetes management. According to the International Diabetes Federation (IDF), nearly 537 million adults aged between 20-79 years were living with diabetes in 2021 and this number is projected to rise to 643 million by 2030 and 784 million by 2045. Moreover, glycated albumin assay is being widely used for diabetes management in pregnant women due to gestational diabetes. Studies have shown that monitoring glycated albumin levels in pregnant women helps lower the risk of adverse pregnancy outcomes related to diabetes.

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Market Driver:

One of the major factors contributing towards the rising demand for glycated albumin assay kits and reagents is the fast-growing global diabetes population. According to the latest data by International Diabetes Federation, currently over 463 million people worldwide have diabetes and this number is expected to surge to 578 million by 2030. Countries like India, China and United States are reporting sharp increases in diabetes prevalence. As diabetes rates continue rising at an alarming rate, the need for efficient glycated albumin testing will increase proportionally. This is because glycated albumin levels provide a short term measure of glycemic control and monitoring these levels is vital for diabetes management.

Market Restraint:

One challenge that can potentially hamper the expansion of glycated albumin assay market is lack of sufficient disease awareness, especially in low and middle-income developing countries. Glycated albumin, although a clinically proven marker, is still not widely recognized as a standard diabetes monitoring parameter. Diagnosing and managing diabetes requires healthcare professionals to be fully acquainted with the latest scientific evidence regarding advanced testing methods and biomarkers. However, in underdeveloped regions, awareness is low even regarding basic diabetes prevention, risk factors and treatment guidelines. Limited resources further add to poor patient education and clinical adoption of recommended testing practices. This major restrain needs to be addressed through stakeholder collaboration and educational initiatives to unleash the true potential of this market.

Competitive Landscape

In the segment specifically devoted to leading companies in the Glycated Albumin Assay Market of the market analysis document, our researchers provide a summary of the financial statements of all the major companies, covering their noteworthy developments, product benchmarking, and SWOT analysis. The corporate profile copy also includes financial information and a business summary. The businesses in this area can be customized to match the unique needs of the client.

Some of the Top Players in Glycated Albumin Assay Market:

Asahi Kasei Pharma Corporation, Weldon Biotech Inc., Abbexa Ltd., Laboratory Corporation of America, Biocompare, EFK Diagnostics, Elabscience Biotechnology Inc., Abbot, Diazyme Laboratories Inc., Abnova Corporation, BSBE, Maccura Biotechnology Co.,Ltd., LifeSpan BioSciences Inc., Biomatik, Geno Technology Inc., AMS Biotechnology (Europe) Limited, Epinex Diagnostics Inc., DxGen Corp

Detailed Segmentation:

Global Glycated albumin assay Market, By Product Type:
Human Glycated Albumin Assay
Animal Glycated Albumin Assay

Global Glycated albumin assay Market, By Application:
Diagnostics
Prediabetes
Type 1 Diabetes
Type 2 Diabetes
Research
Others

Global Glycated albumin assay Market, By End User:
Hospitals
Diagnostic Centers
Research Centers
Others

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Regional Analysis -

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
Latin America (Colombia, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Market Opportunity:

An opportunity that is fueling the growth trajectory of glycated albumin assay market includes rising demand for point-of-care applications. Glycated albumin levels provide short term glucose variability data which makes them ideal for self-monitoring and near-patient testing. Advancements in microfluidics, miniaturization and low-cost manufacturing have enabled development of portable analyzer solutions. These portable systems offer quick results and are also easy-to-use by non-laboratory personnel. This enhances accessibility and enables testing in alternate care locations like emergency rooms, doctors' offices, ambulance services, nursing homes and even homes. Growing popularity of ambulatory healthcare further spurs investments in technologies that simplify testing and impart real-time clinical decision making ability outside traditional labs.

Market Trend:

One noticeable trend in glycated albumin assay market is continuous technical innovations to develop advanced testing platforms. Vendors are engaged in R&D focused on designing sensitive immunoassay kits based on new analyte capture and detection principles. For instance, nanomaterial-based biosensors, novel immunoassay formats like homogeneous assays and microfluidic lab-on-chip devices. Technologies such as lateral flow assays and microarrays integrated with smartphone readers offer possibilities for instant home monitoring without specialized equipment or trained personnel. Such cutting-edge assay solutions demonstrate superior accuracy and faster results. The demand for easy self-administered, non-invasive testing methods at an affordable cost will increase going forward, driving manufacturers to launch advanced glycated albumin detection systems for point-of-care applications.

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Reasons to Purchase this Report:

✔ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
✔ Reports provide opportunities and threats faced by suppliers in the Glycated Albumin Assay industry around the world.
✔ The report shows regions and sectors with the fastest growth potential.
✔ A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
✔ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
✔ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

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