Albany, NY, July 09, 2018 (GLOBE NEWSWIRE) -- According to the report, the global hemoglobin A1c testing devices market will exhibit an impressive 10.30% CAGR over the period between 2013 and 2019, rising to a valuation of US$1.86 bn by 2019.
North America Continues to Remain Most Lucrative Regional Market
In terms of technology, the report states that the segment of boronate affinity chromatography will account for the dominant share in the overall market over the report’s forecast period. The high level of accuracy of the segment is likely to remain the leading factor behind its increased adoption globally. Geographically, the global market for HbA1c testing devices acquires the dominant share of its revenue from the North America region. The region is one of the leading manufacturers of these devices and is also a leading consumer, thanks to the technologically advanced healthcare infrastructure.
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High Level of Accuracy of HbA1c Tests Lead to Increased Adoption
Examination of the levels of glycated hemoglobin is an assured and reliable way of providing a clear understanding regarding a person’s glucose levels. Used for diagnostic purposes as well as for monitoring, the HbA1c tests are considered more reliable than the conventional blood glucose tests as these tests reflect the average amount of glucose in the patient’s blood stream over the period of 2-3 months. Owing to these factors, these tests are being increasingly prescribed by healthcare practitioners, as a result of which, the global demand for HbA1c testing devices has significantly increased in the past few years.
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Moreover, the vast rise in the incidence rate of diabetes across the globe is also expected to lead to an increased demand for HbA1c testing devices in the next few years. Increased awareness regarding the prevention and proper management of diabetes so it does not become a debilitating condition and increased expenditure on healthcare and wellness, especially in developing economies across regions such as Latin America, Asia Pacific, and Middle East and Africa, are also driving the market. However, the high cost of these devices could be a limiting factor for the prospective growth of the market to a certain extent over the report’s forecast period.
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The global market for hemoglobin A1c (HbA1c) testing devices has witnessed the influx of a number of new vendors and several well-established medical device companies owing to the vast set of promising growth opportunities, observes Transparency Market Research in a recent report. Rising levels of competition are compelling companies to focus more on innovations and geographical expansion with the hope of gaining a larger share in the market. Steady rise has been observed in the introduction and approval of new products, such as the COBAS INTEGRA 800 Tina-quant HbA1cDx assay by ROCHE and the ARCHITECT Clinical Chemistry Hemoglobin A1c by Abbott, which were approved by the FDA in 2013 and 2014, respectively.
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This analysis of the global hemoglobin A1c testing devices market is based on a recent market research report by Transparency Market Research, titled “Hemoglobin A1c Testing Devices Market (End-use - Laboratory and Point-of-Care Testing Devices; Technologies - Ion-Exchange HPLC, Immunoassay, Boronate Affinity Chromatography, and Direct Enzymatic Assay) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019.”
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