How Will The Hemoglobin A1c Testing Devices Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s hemoglobin A1c testing devices market report forecasts the hemoglobin A1c testing devices market size to grow to $2.56 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%
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Hemoglobin A1c Testing Devices Market Size Forecast
The global hemoglobin A1c testing devices market is expected to grow from $1.54 billion in 2022 to $1.72 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hemoglobin A1c testing devices market size is expected to reach $2.56 billion in 2027 at a CAGR of 10.3%.
North America held the largest hemoglobin A1c testing devices market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Hemoglobin A1c Testing Devices Market Driver – Rise In The Prevalence Of Diabetes
For example, the Centres for Disease Control and Prevention, a US-based national public health body, estimates that 37.3 million individuals, or 11.3% of the US population, will have diabetes by 2022. Furthermore, according to the International Diabetes Federation, a Belgian-based global diabetes community, about 537 million individuals worldwide will have diabetes in December 2021, with three out of every four adults living in low- and middle-income countries. As a result, the growing number of diabetes patients will boost the haemoglobin A1c testing equipment market.
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Key Hemoglobin A1c Testing Devices Market Trend – Product Innovations
To strengthen their market position, major market players are focusing on developing novel goods. Trivitron Healthcare Pvt. Ltd., an India-based medical device manufacturer, for example, introduced NANO H5 and NANO H110, sophisticated diagnostic solutions for HbA1c based on HPLC technology that offer a result in 130 seconds, in June 2021. The NANO H5 and NANO H110 are small, automated HPLC analyzers that use ion exchange liquid chromatography to quantify glycated haemoglobin (HbA1c) in human whole blood samples. The NANO H5 and NANO H110 can process samples weighing up to 5 and 110 grammes, respectively. The NANO H110 has modern features like as a barcode scanner and cap piercing, as well as a large sample loading capacity, making it appropriate for medium to large laboratories.
Hemoglobin A1c Testing Devices Market Segment
1) By Type: Bench Top Device, Handheld Device
2) By Technology: Ion-Exchange HPLC, Immunoassay, Boronate Affinity Chromatography, Direct Enzymatic Assay, Other Technologies
3) By End Use: Hospitals, Pharmaceuticals, Medical Devices, Laboratory Testing
Hemoglobin A1c Testing Devices Market Major Players and Strategies
Major players in the hemoglobin A1c testing devices market are Arkray Inc., Abbott Laboratories, Polymer Technology Systems Inc., Bio-Rad Laboratories Inc., Menarini Group, F Hoffmann-La Roche AG, Semba Biosciences Inc., Siemens Healthineers AG, Tosoh Corporation, Trinity Biotech plc, Transasia Bio-Medicals Limited, Beckman Coulter Inc., Diazyme Laboratories Inc., EKF Diagnostics Holdings plc, HemoCue AB, and OSANG Healthcare Co Ltd.
Tosoh Bioscience LLC, a US-based firm that manufactures process-scale and laboratory-scale liquid chromatography devices such as the Ion-Exchange HPLC HbA1c analyzer, bought Semba Biosciences Inc for an unknown sum in October 2021. Tosoh Bioscience LLC hopes to improve its portfolio in the bio-purification area and obtain a competitive advantage in the chromatography market through this purchase. Semba Biosciences Inc is a life science firm established in the United States that specialises in capillary electrophoresis-based HbA1c testing instruments.
The Hemoglobin A1c Testing Devices Global Market Report 2023 covers regional data on hemoglobin A1c testing devices market size, hemoglobin A1c testing devices market trends and drivers, opportunities, strategies, and hemoglobin A1c testing devices market competitor analysis. The countries covered in the hemoglobin A1c testing devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The haemoglobin A1c testing device is an analytical equipment used in the determination of HbA1C, which occurs when glucose binds to haemoglobin to generate glycated haemoglobin in a single blood sample. It is used to constantly monitor blood sugar levels for efficient and successful diabetic care.
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