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Poc Hba1C Testing Market Research 2024 - Outlook, Overview And Forecast To 2033
Poc Hba1C Testing Market Research
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According to The Business Research Company's, The poc hba1c testing market size has grown rapidly in recent years. It will grow from $0.85 billion in 2023 to $0.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in diabetes prevalence, rise in covid-19 cases and increase in disposable income.
The poc hba1c testing market size is expected to see rapid growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to rising government support, increasing prevalence of diabetes- type ii diabetes, easy accessibility of poc tests and faster availability of results in poc testing than conventional laboratory testing procedures. Major trends in the forecast period include focus on hba1c microfluidic immunofluorescence test, increasing use of home collection hba1c testing kits, focus on hba1c test using capillary electrophoresis technology and advances in testing technologies.
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Market Drivers and Trends:
The increasing prevalence of diabetes is expected to propel the growth of the POC HbA1C testing market. Long working hours, less physical activity, and unhealthy eating and drinking habits are increasing the prevalence of diabetes. Diabetes can be diagnosed and monitored with point-of-care (POC) HbA1c assays, which can be utilized in community settings and healthcare facilities without laboratories. For instance, in December 2021, according to the International Diabetes Federation, a US-based intergovernmental organization, approximately 537 million adults (20-79 years old) are suffering from diabetes 2021, which is expected to reach 643 million by 2030, and 783 million by 2045. Therefore, the increasing prevalence of diabetes is driving the growth of the POC HbA1C testing market.
Technological advances are a key trend gaining popularity in the POC HbA1C testing market. Major players in the market are investing in developing advanced technologies to provide fast, accurate results in a short period thereby helping laboratories to manage the increase in demand for testing. For instance, Abbott, a US-based medical devices and health care company, introduced Afinion™ HbA1c Dx assay, an in vitro diagnostic test for the quantitative determination of HbA1c in human venous and capillary whole blood for use on the Afinion 2 Analyzer, and also Afinion AS100 Analyzer. The Afinion HbA1c Dx assay is the only rapid POC test cleared by the U.S. Food and Drug Administration (FDA) to assist healthcare professionals in diagnosing diabetes and determining the patient's risk of developing the disorder. The test provides reliable and accurate results of 1,2 glycated hemoglobin in just three minutes, helping physicians evaluate patients and enabling them to formulate individualized care plans during a single visit to the doctor`s office.
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Major Key Players of the Market:
Bayer AG, Pfizer Inc, Novartis International Ag, Sanofi S.A., Intas Pharmaceuticals Ltd,Unither Pharmaceuticals, Cosette Pharmaceuticals, Inc, Aenova Holding GmbH, Delpharm, Bliss GVS Pharma Ltd, JoinHub Pharma, Sun Pharmaceutical Industries Ltd, Cipla Ltd, Divis Laboratories Ltd, Dr. Reddys Laboratories Ltd, Apollo Hospitals Enterprise Ltd, Torrent Pharmaceuticals Ltd, Amgen, Bristol Myers Squibb, Chiesi Farmaceutici, CSPC Pharmaceutical Group, Esteve Química, Humanwell Healthcare (Group) Co, Jiangsu Hengrui Pharmaceutical, GlaxoSmithKline (GSK), Nordic Pharma Group, Phoenix Pharma Group, DocMorris, Medpex, AstraZeneca, Abbott Laboratories, Mylan, Zentiva, Merck & Co, Teva Pharmaceutical Industries Ltd, AbbVie Inc, Apotex, Gilead Sciences, Roche, EMS Pharma, Biolab Farmaceutica, Boehringer Ingelheim, JRS Pharma, Roquette, Odan Laboratories Ltd, Axantia, Fresenius Kabi South Africa (Pty) Ltd, Kiara Health (Pty) Ltd, IBD Africa, Menarini Group, Padagis LLC
Poc Hba1C Testing Market 2024 Key Insights:
• The poc hba1c testing market size is expected to see rapid growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%.
• Rising Diabetes Prevalence Fuels Growth In Point-Of-Care Hba1C Testing Market
• Technological Advances In Poc Hba1C Testing Transforming Patient Diagnoses
• North America was the largest region in the POC HbA1C testing market in 2022
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