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Hemoglobin A1c Testing Devices Market 2024 - By Size, Share, Industry Growth Analysis Report By 2033
Hemoglobin A1c Testing Devices Market
According to The Business Research Company's, The hemoglobin a1c testing devices market size has grown rapidly in recent years. It will grow from $1.73 billion in 2023 to $1.93 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to holistic diabetes management programs, continuous innovation, improvement in healthcare infrastructure, preventive healthcare practices, home healthcare trends..
The hemoglobin a1c testing devices market size is expected to see rapid growth in the next few years. It will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to point-of-care testing expansion, home testing and self-monitoring, focus on preventive healthcare, increasing aging population, healthcare accessibility expansion.. Major trends in the forecast period include continuous innovation and cost efficiency, rising diabetes prevalence, shift towards point-of-care testing, technological advancements, home healthcare and self-monitoring..
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Market Drivers and Trends:
The rising prevalence of diabetes is expected to propel the growth of the hemoglobin A1c testing devices market. Diabetes is a chronic metabolic disorder that elevates blood glucose levels. Hemoglobin A1c testing is used in providing information on average blood glucose levels in individuals that are used in the diagnosis of type 2 diabetes, pre-diabetes, and diabetes management, which enables the individuals to monitor the disease and help make treatment decisions to prevent complications. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people were suffering from diabetes which equals 11.3% of the United States population. Additionally, in December 2021, according to the International Diabetes Federation, a Belgium-based global diabetes community, approximately 537 million adults were suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. Therefore, the increased cases of diabetes patients will drive the hemoglobin A1c testing devices market.
Product innovations are a key trend in gaining popularity in the hemoglobin A1c testing devices market. Major companies operating in the market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2021, Trivitron Healthcare Pvt. Ltd., an India-based medical device company, introduced NANO H5 and NANO H110, advanced diagnostic solutions for HbA1c based on HPLC technology to provide a result within 130 seconds. NANO H5 and NANO H110 are compact, automated HPLC analyzers that use ion exchange liquid chromatography to quantitatively determine glycated hemoglobin (HbA1c) in a human whole blood sample. NANO H5 and NANO H110 can process samples up to 5 and 110, respectively. NANO H110 offers advanced facilities such as a barcode scanner and cap piercing with a high sample loading capacity, making the device suitable for medium to large laboratories.
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Major Key Players of the Market:
Arkray Inc; Abbott Laboratories; Polymer Technology Systems Inc; Bio-Rad Laboratories Inc; Menarini Group; F Hoffmann-La Roche AG; Semba Biosciences Inc; Siemens Healthineers AG; Tosoh Corporation; Trinity Biotech plc; Transasia Bio-Medicals Limited; Beckman Coulter Inc; Diazyme Laboratories Inc; EKF Diagnostics Holdings plc; HemoCue AB; OSANG Healthcare Co Ltd; Danaher; Bayer AG; Thermo Fisher Scientific Inc.; PTS Diagnostics India Private Limited; Hoffmann-La Roche & Co.; Nova Biomedical; Randox Laboratories Ltd.; ACON Laboratories Inc.; DiaSys Diagnostic Systems GmbH; Erba Mannheim; Green Cross Medical Science Corp.; Infopia Co. Ltd.; TaiDoc Technology Corporation; Werfen; Zhejiang Orient Gene Biotech Co. Ltd.
Hemoglobin A1c Testing Devices Market 2024 Key Insights:
• The hemoglobin a1c testing devices market will grow to $2.94 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Hemoglobin A1C Testing Devices Market Set To Soar Amid Diabetes Prevalence
• Hemoglobin A1C Testing Devices Market Thrives On Product Advancements
• North America was the largest region in the hemoglobin A1c testing devices market in 2023
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