Glycated hemoglobin testing market winessed perspective CAGR of 8.6% By 2026
Posted: Jun 25, 2018
MarketResearch.biz announces publication of its most recently generated research report titled, "Global Glycated Hemoglobin Testing Market", which offers a holistic view of the glycated hemoglobin testing market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017-2021) is projected to be US$ 1,946.0 Mn, which is expected to increase rather moderately over the latter part of the five-year forecast period. According to report, the glycated hemoglobin testing market is projected to reach a value of over US$ 650 Mn in 2026 at a CAGR of 8.6% over the forecast period.
Glycated hemoglobin is a form of hemoglobin, and glycated hemoglobin testing is generally referred to as hemoglobin A1c or HbA1c test for diabetes. Glycated hemoglobin is measured in order to determine the three-month average plasma glucose concentration within an individual. Lifespan of a red blood cell is said to be four months (120 days), which is why HbA1c test is limited to a three-month average. Growth of the global glycated hemoglobin testing market is driven by increasing incidence of diabetes in developed and developing economies coupled with manufactures investing into development of new and efficient monitoring equipment for hemoglobin testing.
Global Glycated Hemoglobin Testing Market: Market Dynamics
High prevalence rate coupled with increasing incidence of diabetes among individuals in developed and developing economies are major factors driving growth of the global glycated hemoglobin testing market. In addition, growing awareness among diabetics for early diagnosis of diabetes so as to help in treatment & management of diabetes is another factor fueling growth of the global glycated hemoglobin testing market.
Also, increasing number of government initiatives for increasing awareness about diabetes especially in developed economies is another factor anticipated to aid in growth of the global glycated hemoglobin testing market over the forecast period.
However, high costs associated with procurement of glycated hemoglobin testing equipment and use is a major factor limiting growth of the global glycated hemoglobin testing market. Additionally, availability of substitute diagnostic testing methods is another major factor anticipated to hamper growth of the global glycated hemoglobin testing market over the forecast period.
A major and rising trend in the global glycated hemoglobin testing market is increasing adoption of point-of-care testing for glycated hemoglobin testing by individuals across developed and in some developing economies. Access to results in substantially less amount of time as compared to that of lab based tests is a major factor for this increasing adoption.
Global Glycated Hemoglobin Testing Market: Market Forecast
The comprehensive research report comprises a complete forecast of the Global Glycated Hemoglobin Testing Market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the Global Glycated Hemoglobin Testing Market is expected to expand at a moderate CAGR of 8.6% during the forecast period.
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Global Glycated Hemoglobin Testing Market: Segmental Snapshot
The market report has been segmented on the basis of test-type, technique, end user, and region. The test-type segment includes lab based test and point-of-care test. The technique segment includes chromatography, immunoassay, and others. End user segment includes hospitals, diagnostic centers, academic and research Institutes, and others. The regions covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By test-type: The lab based test segment accounted for highest revenue share contribution as compared to that of the point-of-care test, and is expected to register a CAGR of 8.5% over the forecast period.
By technique: The chromatography segment is projected to account for highest revenue share among other technique segments, and register a CAGR of 8.6% over the forecast period.
By end user: Hospitals segment is estimated to account for highest revenue share among the end user segments, and is projected to register a CAGR of over 8.5% over the forecast period.
By region: The market in North America accounted for highest revenue share in the global glycated hemoglobin testing market in 2016, and is expected to record a CAGR of over 8.5% between 2017 and 2026.
Global Glycated Hemoglobin Testing Market: Competitive Analysis
The research report on the Global Glycated Hemoglobin Testing Market includes profiles of some of major companies such as Abbott Laboratories, Alere, Inc., Danaher Corp., F. Hoffmann-La Roche AG, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., ARKRAY, Inc., Bayer AG, Tosoh Corporation, and Siemens AG.
The Global Glycated Hemoglobin Testing Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017-2026 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the Global Glycated Hemoglobin Testing Market for 2017-2026.
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