Glycated haemoglobin (HbA1c) testing plays a vital role in the management of diabetes by measuring average blood glucose levels over prolonged periods of time. These tests provide clinicians insights into a patient’s long-term glycemic control and help optimize treatment plans accordingly. Growth in the number of diabetics globally has been a major driver of demand for HbA1c tests.
The Glycated Haemoglobin Testing Market is estimated to be valued at USD 239 Mn in 2024 and is expected to reach USD 426 Mn by 2031, growing at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2031.
Key Takeaways
Key players operating in the Glycated Haemoglobin Testing market are Abbott Laboratories,Roche Diagnostics,Siemens Healthineers,Tosoh Corporation,Bio-Rad Laboratories. The rising prevalence of diabetes globally has been a major factor propelling the demand for HbA1c testing. According to estimates, over 460 million people worldwide had diabetes in 2019, and the number is projected to rise to 700 million by 2045. The growing awareness about management of diabetes and importance of optimal glycemic control has also driven the uptake of regular HbA1c monitoring. Moreover, market players have been expanding their geographical presence through strategies such as partnerships, acquisitions and new product launches to cater to the burgeoning demand.
Market key trends
One of the key trends gaining momentum in the glycated haemoglobin testing market is the development and commercialization of point-of-care HbA1c testing devices. These compact analyzers can produce test results quicker with just a small blood sample, enabling real-time clinical decision making. Point-of-care HbA1c testing is useful in alternate care settings and also helps improve patient access and compliance to regular monitoring. Major players have introduced several easy-to-use point-of-care platforms with the aim of making HbA1c testing more convenient and widespread.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established customers make entry relatively easy. However, presence of big players acts as barrier.
Bargaining power of buyers: Large number of buyers and availability of substitutes increases their bargaining power.
Bargaining power of suppliers: Dependence on few suppliers of raw materials and reagents increases their bargaining power.
Threat of new substitutes: Emerging technologies for HbA1c testing poses threat of substitution.
Competitive rivalry: Intense competition among existing big players to gain more market share.
Geographical Regions
North America accounts for the largest share of the glycated haemoglobin testing market currently due to high incidence of diabetes and favourable reimbursement policies.
Asia Pacific is poised to grow at the fastest CAGR during the forecast period owing to rising healthcare expenditure, increasing prevalence of diabetes, booming medical tourism industry and expansion efforts of key market players in developing countries.
Geographical Regions
The United States currently dominates the North America glycated haemoglobin testing market led by growing diabetic population, increasing adoption of point-of-care testing and favourable insurance coverage for diabetic management.
China holds the top position in Asia Pacific region on back of rising spending on healthcare, large patient pool of diabetes patients and government support for diabetes management programs. India is emerging as a high potential country due to growing middle class population and initiatives to spread awarenss about glycemic control.
What Are The Key Data Covered In This Glycated Haemoglobin Testing Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Glycated Haemoglobin Testing growth between 2024 and 2031.
:- Accurate calculation of the size of the Glycated Haemoglobin Testing and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Glycated Haemoglobin Testing Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Glycated Haemoglobin Testing vendors
FAQ’s
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Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Glycated Haemoglobin Testing companies compare in terms of sales, revenue, and prices?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it