The global hemoglobin A1c testing devices market is estimated to register growth at a CAGR of 10.7% during the forecast period from 2019 to 2027.
Wilmington, Delaware, United States, Transparency Market Research Inc.: Global Hemoglobin A1c Testing Devices Market: Overview
The global hemoglobin A1c testing devices market is estimated to register growth at a CAGR of 10.7% during the forecast period from 2019 to 2027. It was valued at US$ 1,676.3 Mn in 2018. The growth of the market is being driven by many factors such as rise in number of diabetic patients globally, rising older population, and increase in point-of-care testing.
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An assessment by Transparency Market Research (TMR) provides in-depth analysis of key factors influencing the hemoglobin A1c testing devices market growth. Thus, this document delivers comprehensive study of growth drivers, challenges, restraints, key regions, demand-supply ratio, and competition analysis of the market for hemoglobin A1c testing devices. It also sheds light on various strategies used by market players in order to deal with the COVID-19 crisis.
The analysts of a study by TMR have performed the segmentation of the global hemoglobin A1c testing devices market based on several important facets such as technology, end use, and region. In terms of technology, the market is bifurcated into immunoassay, ion-exchange high performance liquid chromatography (HPLC), direct enzymatic assay, boronate affinity chromatography, and others (micro-optical detection method, and capillary electrophoresis). Based on end use, the segmentation of the market is performed into laboratories testing devices and point-of-care (POC) testing devices.
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Increase in Awareness on Diabetes and its Prevention & Management Fuels Demand for Hemoglobin A1c Testing Devices
Unhealthy eating habits and busy lifestyles of people are several key factors resulting into rise in cases of diabetes, which is one of the common chronic diseases across the globe. The statistics of many studies carried out around the world suggest that the diabetic patient pool is likely to increase in the years to come. Several government as well as private organizations are increasing efforts to spread awareness on diabetes, how it can be prevented, and the disease management. These efforts are projected to favor the sales growth in the global hemoglobin A1c testing devices market in the forecast period.
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Rise in Older Population and Presence of Employer Sponsored Programs to Create Prodigious Business Prospects
Numerous companies from across the globe are executing employee wellness programs, which are focused on maintaining overall productivity and efficiency of their employees. As a part of such attempts, companies are performing routine medical tests of their employees. This factor is generating substantial business prospects in the hemoglobin A1c testing devices market. Besides, the market is estimated to be driven by increasing number of older populace, which is at risk of chronic health issues.
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Rise in Diabetic Population in Asia Pacific to Offer Promising Revenues Gains
Some of the key regions supporting the growth of the global hemoglobin A1c testing devices market include Europe, North America, Asia-Pacific, and rest of the world (RoW). Among all regions, Asia Pacific is prognosticated to provide lucrative prospects owing to growing understanding on precision and efficiency of hemoglobin A1ctesting and rise in diabetic population in several developing nations such as India and China.
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