The glycated haemoglobin testing market has witnessed significant growth over the past few years owing to the increasing prevalence of diabetes across the globe. Glycated haemoglobin test, which is also known as HbA1c test or A1c test, is a blood test that is primarily used to identify the average plasma glucose concentration over prolonged or extended periods of time, typically between two to three months. This essential test helps determine a person's risk for diabetes and how well diabetes treatment is working.
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, Bio-Rad Laboratories, F. Hoffmann-La Roche Ltd, Danaher Corporation (Beckman Coulter), Siemens Healthineers, DiaSys Diagnostic Systems GmbH, EKF Diagnostics, PTS Diagnostics, Tosoh Corporation, and Trinity Biotech plc.
There is high growth potential for manufacturers in emerging economies due to increasing healthcare expenditure and large diabetic patient pool. Furthermore, increasing adoption of point-of-care devices for glucose level monitoring creates new opportunities for players in the market.
Globally, North America dominated the Glycated Haemoglobin Testing Market in 2021. However, Asia Pacific market is expected to grow at a high CAGR during the forecast period owing to surging elderly population, growing awareness about diabetic care, and increasing healthcare expenditures in countries such as China and India.
Market Drivers
The rising prevalence of diabetes due to obesity, sedentary lifestyle, and unhealthy dietary habits is a key factor driving the demand for glycated haemoglobin testing. As per International Diabetes Federation (IDF), approximately 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, increasing healthcare expenditures on diabetes management and monitoring will further aid in market growth during the forecast period.
PEST Analysis
Political: Regulations regarding diabetes diagnosis and management are expected to drive the demand for glycated hemoglobin testing. Governments across the world are working to spread diabetes awareness and encourage regular checkups.
Economic: Rising incidence of diabetes globally is increasing the healthcare burden and costs. Glycated hemoglobin testing helps diagnose and manage diabetes in a cost-effective manner. It helps reduce costly complications in the long run.
Social: Growing health consciousness and focus on preventive healthcare is positively impacting the market. Diabetes education programs are empowering people to better manage their condition through continued monitoring.
Technological: Advancements in HbA1c testing technologies are supporting its increased adoption. New point-of-care devices offer convenient, rapid and accurate results without need for laborious lab processing. Home-based devices are also gaining popularity.
Geographical regions with concentrated market value
North America currently accounts for the largest share of the global glycated hemoglobin testing market value owing to the high diabetes prevalence, advanced healthcare infrastructure and favorable reimbursement policies. The regional market is driven by the widespread adoption of HbA1c testing and growing patient awareness levels regarding diabetes management. Asia Pacific is also emerging as a major regional market with China, India and Japan being high growth diabetes hotspots.
Fastest growing region
The Asia Pacific region is expected to witness the fastest growth over the forecast period in the glycated hemoglobin testing market. This can be attributed to the rising diabetic population, growing healthcare expenditure, increasing focus of market players on tapping opportunities in developing Asian countries and government efforts to spread awareness about diabetes prevention and management. Countries like China and India with their huge patient pools are expected to be at the forefront of the market expansion in Asia Pacific.
Get This Report in Japanese Language: グリコヘモグロビン検査市場
Get This Report in Korean Language: 당화혈색소 검사 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191)
