by Glycated haemoglobin testing monitors the average level of blood sugar in a person over a period of time by measuring the percentage of haemoglobin in the blood that is bound with glucose. Glycated haemoglobin tests are considered the gold standard for monitoring long-term blood sugar control in people with diabetes. It provides key information about a patient’s diabetes management over the past 2-3 months. The global glycated haemoglobin testing market is expected to grow as diabetes continues to increase worldwide. According to data from the International Diabetes Federation, around 463 million adults aged between 20-79 years were living with diabetes in 2019, and this number is projected to increase to 700 million by 2045.
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,Roche Diagnostics,Siemens Healthineers,Tosoh Corporation,Bio-Rad Laboratories. Rising prevalence of diabetes and growing awareness about glycated haemoglobin testing among patients and healthcare professionals are some of the major opportunities in the market. With increasing health expenditures and focus on diabetes management, the demand for glycated haemoglobin testing is expected to grow substantially.
Globally, there has been a significant increase in the prevalence of diabetes, especially in developing regions such as Asia Pacific, Middle East and Africa. This provides immense potential for glycated haemoglobin testing manufacturers to leverage unmet needs and expand their geographic footprint in emerging countries.
Market drivers
Increasing prevalence of diabetes is the major driver propelling the growth of the glycated haemoglobin testing market. As per the IDF, approximately 20% of global healthcare expenditure is spent on diabetes. Growing patient emphasis on effective diabetes management is expected to boost the adoption of glycated haemoglobin tests over the forecast period.
PEST Analysis
Political: Changes in healthcare reforms and regulations around the world impact the demand for glycated haemoglobin testing. New policies regarding reimbursement affect the adoption of diagnostic testing.
Economic: Economic growth and rising disposable incomes in developing nations are key factors driving more patients to undergo diagnostic tests. Higher healthcare spending creates opportunities.
Social: Growing worldwide prevalence of diabetes and obesity has made people more health conscious. Regular health checkups are becoming a norm which supports market growth.
Technological: Development of point-of-care testing methods and integrated diagnostic systems that provide faster results promote the use of glycated haemoglobin testing. Technologically advanced devices see higher acceptance.
The geographical regions where the glycated haemoglobin testing market sees considerable value concentration include North America and Europe. Both regions have established healthcare infrastructures and reimbursement systems supporting wider diagnostic test adoption. North America, especially the United States, has the highest per capita healthcare spending globally.
The Asia Pacific region is poised to be the fastest growing market for glycated haemoglobin testing over the forecast period. This can be attributed to factors like rising diabetes prevalence, growing medical tourism, increasing healthcare investments and expansion of private-sector healthcare facilities in developing Asian countries. Growing patient awareness combined with improving access to diagnostic services makes Asia Pacific an attractive market for key players.
What Are The Key Data Covered In This Glycated Haemoglobin Testing Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Glycated Haemoglobin Testing growth between 2024 and 2031.
:- Accurate calculation of the size of the Glycated Haemoglobin Testing and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Glycated Haemoglobin Testing Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Glycated Haemoglobin Testing vendors
FAQ’s
Q.1 What are the main factors influencing the Glycated Haemoglobin Testing ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Glycated Haemoglobin Testing companies compare in terms of sales, revenue, and prices?
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
