Global Hemoglobin A1c (HbA1c) Testing Devices Market Expected To Grow At A CAGR Of 10.1% During The Forecast Period

The latest market report published by Brisk Insights, “HbA1c testing devices market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the HbA1c testing devices market was valued at US$ 1,783.2 Mn in 2018, expected to grow at a CAGR of 10.1% during the forecast period from 2019 to 2027.

Market Insights

The global HbA1c testing devices market is growing capably from 2019 to 2027 accredited to upsurge in diabetes patients along with the adoption of testing devices in the hospitals, diagnostic labs and mainly in the home care segment on a global scale. Recent U.S FDA clearance for new automated systems and assays with upgraded technology will boost the demand globally. Increasing partnership agreements and new product development in the HPLC segment will drive the market growth in the near future. Growing incidences for type 1 diabetes will upsurge the demand for handheld devices in the emerging nations mainly in China, India, Brazil Indonesia and others.

The global presence of individuals with diabetes is more than 415 Mn, the prevalence in the US was 34.2 Mn in year 2018. Moreover, in 2017, the total cost of diabetes diagnostics in the US was US$ 327 billion. New developments regionally by top manufactures such as Abbott, Beckman Coulter, Transasia, Piramal Enterprises and others will generate maximum revenue share during the forecast period. Top products include, Afinion™ HbA1c Dx assay test (point of care testing by Abbott), Quo-Test HbA1c analyser, QDx A1c, UniCel DxC analyzers, AGGLH - Glucose Hexokinase by Agappe and others.

As per the statistics by International Diabetes Federation (IDF), in 2017, more than 66 million individuals had diabetes in Europe, and it is likely to increase by more than 80 million by 2045. Moreover, in 2017, 7,476,800 cases of diabetes were diagnosed in Germany. Furthermore, every year, more than 28,000 children diagnosed with diabetes in Germany. Top companies are focusing on novel invention and FDA approval in the US, CE mark in EU region and globally. Growing number of diabetes initiatives with hospitals and diagnostic centers internationally along with brand awareness and control measures with easy options will enhance the demand for new products. Additionally, consumer preference for point if care testing at home, and demand for handheld devices will drive the market growth on global scale. The North America region will hold a significant market share attributed to increasing incidence of diabetes, obesity, and large pool of ageing population, and presence of top players in the US region. New product and technology expansion in the emerging nations along with increased medical expenditure and improved lifestyle will further spur revenue growth globally.

Key Market Movements:

• Globally, the hemoglobin A1c testing devices is growing at a CAGR of 10.1% for the period from 2019 to 2027.
• Growing public and private health awareness, economical reimbursement structure, and new product penetration will drive the overall market growth Asia Pacific, Europe and MEA region owing to developments in medial infrastructure, rise in per capita income, and increased medical tourism for diabetes control.
• Increasing funding by government, and private organizations for HbA1c testing will rise in the near future.
• Partnerships, novel product launch and improve R&D will drive the market growth on a global scale.

Top Market Players:

• Abbott Laboratories
• Siemens Healthcare
• Arkray, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Trinity Biotech plc
• Alere, Inc.
• F. Hoffmann-La Roche Ltd.
• Transasia Biomedicals Ltd
• Tosoh Corporation
• Polymer Technology Systems, Inc.
• Menarini Group
• Others

Browse the full report at https://www.briskinsights.com/report/hba1c-testing-devices-market

The Global Hemoglobin A1c (HbA1c) Testing Devices Market is Segmented into:

*Complete segmentation list is on report page