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Rising Diabetes Rates Drive Growth In Boronate Affinity Testing Market: Pivotal Factor Influencing Boronate Affinity Tests Market Growth in 2025
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.Boronate Affinity Tests Market Size Growth Forecast: What to Expect by 2025?
The market for boronate affinity tests has seen a fast-paced expansion in the past few years. The valuation is projected to increase from $3.47 billion in 2024 to $3.82 billion in 2025, marking a compound annual growth rate (CAGR) of 10.2%. Factors contributing to the growth during the historical period include escalated research and development activities, an increase in chronic disease cases, expansion of the biotechnology field, increased funding by government and academic institutions for research, growing preference for personalized medicine, and enhanced accessibility to sophisticated equipment.
How Will the Boronate Affinity Tests Market Size Evolve and Grow by 2029?
There is anticipated robust expansion in the boronate affinity tests market in the years to come, with size projected to reach $5.58 billion by 2029, advancing at a compound annual growth rate (CAGR) of 9.9%. This growth over the forecast period is likely due to factors such as its increasing use in clinical diagnostics, enhanced awareness and education, growth in untapped markets, strategic alliances and partnerships, a higher incidence of metabolic disorders, and an amplified emphasis on detecting diseases early. Key trends for the forecast period include convergence with digital health, automation and high-capacity screening, proliferation in clinical applications, improvements in sample preparation, a heightened focus on glycomics, the creation of innovative reagents and kits, and regulatory progress.
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What Drivers Are Propelling the Growth of Boronate Affinity Tests Market Forward?
The rising number of diabetics is anticipated to drive the growth of the boronate affinity tests market. Diabetes, a chronic illness characterized by elevated blood sugar levels, arises due to the body's inability to effectively produce or use insulin. A surge in diabetes cases is often attributed to unhealthy dietary habits, including excessive ingestion of processed food and sugary beverages, along with sedentary lifestyles that involve minimal physical activity. Furthermore, factors such as an aging population and a family history of diabetes, which suggests a genetic inclination, increase the risk. Boronate affinity tests are integral to diabetes management as they precisely calculate glycated proteins, thereby offering a consistent measure of long-term blood sugar control. For instance, The Lancet, a UK-based book and periodic data publishing company, reported in June 2023 that the global diabetes cases are predicted to rise from 529 million in 2021 to 1.3 billion by 2050. Consequently, the rising diabetic population is expected to positively impact the growth of the boronate affinity tests market. The boronate affinity tests market's growth is also linked to the increasing emphasis on personalized medicine. This approach tailors healthcare based on an individual's genetic, environmental, and lifestyle data to maximize treatment results. The growing focus on personalized medicine is strengthened by a more profound understanding of genetic variation's health effects coupled with progress in diagnostic tools, data analysis, bioinformatics, and precision medicine technologies. Boronate affinity tests play a vital role in personalized medicine by accurately monitoring glycation levels in patients to assist in customizing diabetes management and treatment regimens. To cite an example, the Personalized Medicine Coalition, a non-profit organization based in the US, announced in February 2024 that the FDA approved 16 novel personalized treatments for patients with rare diseases in 2023, up from six in the previous year. Furthermore, seven of these were customized drugs for cancer treatment, while three targeted various diseases and conditions. Thus, the increasing emphasis on personalized medicine is anticipated to propel the boronate affinity tests market's growth.
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What Are the Key Segments in the Boronate Affinity Tests Market?
The boronate affinity tests market covered in this report is segmented -
1) By Product Type: Test Kits, Instruments, Consumables
2) By Technology: Fluorescence Based Tests, Colorimetric Assays, Electrochemical Methods
3) By Indication: Type 1 Diabetes, Type 2 Diabetes
4) By End User: Hospitals And Clinics, Diagnostics Laboratories, Research Institutes, Pharmaceutical And Biotechnology Companies
Subsegments:
1) By Test Kits: Boronate Affinity Glycoprotein Test Kits, Boronate Affinity Drug Detection Test Kits, Boronate Affinity Biomarker Test Kits
2) By Instruments: Boronate Affinity Chromatography Systems, Spectrometers For Boronate Affinity Analysis, Automated Boronate Affinity Test Analyzers
3) By Consumables: Boronate Affinity Resin Columns, Boronate Affinity Membranes
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Who Are the Key Players Shaping the Boronate Affinity Tests Market's Competitive Landscape?
Major companies operating in the boronate affinity tests market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers, Merck KGaA, Tosoh Corporation, Agilent Technologies Inc, Bio-Rad Laboratories Inc, Alere Inc, Green Cross Holdings Corp., Bio-Techne Corporation, ARKRAY Inc, EKF Diagnostics Holdings plc, HemoCue AB, Trinity Biotech, SeraCare Life Sciences Inc, Medix Biochemica, PTS Diagnostics, Biosynth, Santa Cruz Biotechnology, A Menarini Diagnostics Srl, Diazyme Laboratories Inc, Bioventix PLC, GenWay Biotech Inc, Diatheva, OSANG Healthcare Co Ltd, Cypress Diagnostics, Goldsite Diagnostics Inc
What Geographic Markets Are Powering Growth in the Boronate Affinity Tests Market?
North America was the largest region in the boronate affinity tests market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the boronate affinity tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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