Top-notch Companies operating in HbA1c Testing Market are CPC Diagnostics Pvt. Ltd. (India), Abbott Laboratories (US), Bio-Rad Laboratories, Inc. (US), ARKRAY, Inc. (Japan), F. Hoffmann-La Roche Ltd (Switzerland), Danaher Corporation (US), EKF Diagnostics (UK), Rapid Diagnostics Group of Companies (India), DiaSys Diagnostic Systems GmbH (Germany), Tosoh India Pvt. Ltd. (India), Transasia Bio-Medicals (India), Agappe Diagnostics Ltd (India), PTS Diagnostics (US), Siemens Healthineers (US), and Trinity Biotech PLC (Ireland).
Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- HbA1c Testing market Overview:
Market Research Future (MRFR) analyzed the global HbA1c Testing Market in the review period between 2020 and 2025. MRFR analysis suggest that worldwide HbA1c testing market is likely to register 12.24% CAGR in the forecast period. By 2025, the HbA1c testing market value is expected to touch USD 1,992.44 Mn. Innovations in HbA1c measuring products as the need for highly accurate devices is increasing is expected to benefit the support expansion of the market.
Latest Trends Post COVID-19 Outbreak:
Increase in periodic body check-up amidst COVID 19 is observed to increase the number of HbA1c testing that can favor the market. Hike in risk of both type of diabetes and increase in type 2 diabetes among the expanding geriatric population can contribute to the market surge.
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Key Players Locking Horns:
Some of the top companies profiled in the MRFR report include:
CPC Diagnostics Pvt. Ltd. (India)
Abbott Laboratories (US)
Bio-Rad Laboratories, Inc. (US)
ARKRAY, Inc. (Japan)
F. Hoffmann-La Roche Ltd (Switzerland)
Danaher Corporation (US)
EKF Diagnostics (UK)
Rapid Diagnostics Group of Companies (India)
DiaSys Diagnostic Systems GmbH (Germany)
Tosoh India Pvt. Ltd. (India)
Transasia Bio-Medicals (India)
Agappe Diagnostics Ltd (India)
PTS Diagnostics (US)
Siemens Healthineers (US)
Trinity Biotech PLC (Ireland)
The segment study of the worldwide HbA1c testing market is done on the basis of end-user, product, and technology.
The product-based segments global market of HbA1c testing are instruments, and reagents and kits. The introduction of latest models for testing and easy approvals for launch of new products by different companies can favor the market rise. The instrument segment can rise at decent pace to register high CAGR by 2025. The increase in funding in research for the development of numerous reagents can benefit the HbA1c testing market in the study period. According to MRFR estimates, the reagents and kits segment can hold about 36% share of the overall market by 2025.
The instrument-based segments global market of HbA1c testing are handheld device and bench-top device. The increase in adoption of bench-top devices due to their handling convenience is expected to boost its sales that can contribute to decent turnover for the market. The rise in utility of handheld devices can also promote the market growth in the near future.
The technology-based segments of the HbA1c testing market are enzymatic assay, ion-exchange HPLC, and TINIA among others. The growing preference of boronate affinity chromatography for testing due to their high accuracy in results can favor the market surge. The ion-exchange HPLC segment can rise at high pace due to the rise in the demand of the product. By 2025, the HPLC segment is likely to hold 21% market value.
The end-user-based segments global market of HbA1c testing are diagnostic laboratories, and hospitals and clinics among others. The rise in risk of death due to high levels of glycosylated Hb in a large pool patient is creating the need for tests. In addition, the need for early diagnosis of fatal disorders, along with the prior mentioned factor, HbA1c testing kits that is expected to generate high turnover in the study period. MRFR study suggests that the hospital and clinics, end-user segment of the market can secure nearly 36% of the worldwide market share.
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The regional evaluation of the global HbA1c testing market is done by Europe, the Americas, Asia Pacific, and the Middle East and Africa (MEA). MRFR analysts studied HbA1c testing market on country-basis to provide insights that can benefit investors plan effective strategies for local promotion and sales of their products and services.
In the Americas, the HbA1c testing market is likely to secure the largest market share in the assessment period. The surge in incidence rate of HbA1c testing due to increase in cases of type 2 diabetes can contribute to the expansion of the market. The increase in funding for multiple research and development projects across Canada and the US can support the dominance of the Americas in the forecast tenure, reveals MRFR findings. The rise in approval of pipeline drugs by authorized bodies can add to the regional market surge.
In Europe, the HbA1c testing market can establish substantial rise in the review period owing to the gradual rise in the adoption of advanced tools for diagnosis by medical professionals. They are also funding for designing of models that offer better patient experience. Rise in supply of molecular diagnostic test kits and gradual advancements in precision medicine can add to the regional upsurge of the market in the years ahead.
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In Asia Pacific, the market of HbA1c testing is expected to witness rapid surge in the revenue generation due to increase in strong focus on robust and strategic agreements by companies that are operating in the market. Local players dealing in medical devices are investing in the production of hemoglobin analyzers that deliver rapid and accurate results is observed as a potential growth inducer of APAC HbA1c testing market.
In the Middle East Region and Africa, the market of HbA1c testing can witness steady rise as different companies are observed to gain FDI. The increase in presence of making agreements with numerous local distribution channels can benefit the market in the review period. However, socio-economic issues and problems related to healthcare base can hinder the rise of MEA HbA1c market in the approaching years.
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