Hemoglobin A1c Testing Market: Report Analysis Global Market Revenue, Trend, growth and share
Hemoglobin A1c Testing Market: Scope of the Report
A new study on the global hemoglobin A1c testing market was published by Transparency Market Research (TMR). It presents a wealth of information on the key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global hemoglobin A1c testing market. TMR’s study offers valuable information about the global hemoglobin A1c testing market, to illustrate how growth will discern during the forecast period of 2019–2027.
Key indicators of market growth, which include Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global hemoglobin A1c testing market for the forecast period.
An extensive analysis on leading market players’ business strategies has also been featured in TMR’s study on the global hemoglobin A1c testing market. This can help readers understand principal factors to foresee growth in the global hemoglobin A1c testing market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global hemoglobin A1c testing market, which will guide market players in taking decisions in the future.
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According to the latest report published by Transparency Market Research on the global hemoglobin A1c testing market for the historical year of 2017 and forecast period of 2019 to 2027, increase in the demand for point-of-care testing for the diagnosis of diabetes, high prevalence of diabetes, and launch of automated hemoglobin A1c testing analyzers are expected to boost the growth of the global hemoglobin A1c testing market during the forecast period.
The global hemoglobin A1c testing market was valued at ~US$ 1 Bn in 2018, and is expected to expand at a CAGR of ~9% during the forecast period.
Increase in Prevalence of Diabetes: A Key Driver
Diabetes is a common health condition among the geriatric population, the prevalence of which is expected to increase over the next few years. This high prevalence of diabetes is expected to drive the growth of the hemoglobin A1c testing market during the forecast period.
According to the National Institutes of Health, 8.5% of the people (617 million) across the world were aged 65 years or above in 2016, and this percentage is projected to increase to nearly 17% (1.6 billion) by 2050.
In Europe, there has been an exponential increase in the number of patients with diabetes. This can be attributed to obesity, sedentary lifestyle, and unhealthy diet among adults in the region.
According to the International Diabetes Federation, over 66 million people had diabetes in Europe in 2017, and the number is likely to rise to 81 million by 2045. There were 7,476,800 cases of diabetes in Germany in 2017. Furthermore, 286,000 children had diabetes in 2017, and each year, 28,600 children are diagnosed with diabetes.
These factors have led to the increase in healthcare expenditure, which was US$ 207 Bn in 2017, and is likely to increase to US$ 214 Bn by 2045.
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Global Hemoglobin A1c Testing Market: Key Developments
Major manufacturers in the global hemoglobin A1c testing market are adopting strategies of collaborations, partnerships, geographical expansion, distribution agreements, and new product development to strengthen their product portfolios and geographic presence in the global market. Key developments in the global hemoglobin A1c testing market are:
In December 2018, Arkray, Inc. established the Arkray Middle East Branch in Dubai, the UAE. Lifestyle diseases are on the rise in the Middle East due to rapid economic development in recent years and changes in lifestyle. As per the International Diabetes Federation (IDF), Saudi Arabia, the United Arab Emirates (UAE), Egypt, Bahrain, and Qatar were the top five countries with highest age-adjusted diabetes in 2017.
In January 2017, Abbott Laboratories announced the acquisition of St. Jude Medical, Inc., a global medical devices manufacturer. In October 2017, Abbott Laboratories acquired Alere Inc., a diagnostic device and service provider.
Key Players of Hemoglobin A1c Testing Market Report:
Detailed profiles of manufacturers of hemoglobin A1c testing have been provided in the report to evaluate their key product offerings, financials, business strategies, and recent developments.
Key players operating in the global hemoglobin A1c testing market include
- Abbott Laboratories
- ARKRAY, Inc.
- Bio-Rad Laboratories, Inc.
- Polymer Technology Systems, Inc.
- Danaher Corporation (Beckman Coulter)
- Hoffmann-La Roche Ltd.
- Menarini Group
- Siemens Healthineers
- Tosoh Corporation
- Trinity Biotech plc.
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