PUBLISHER: The Business Research Company | PRODUCT CODE: 1429911
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429911
POC HbA1C testing devices are designed for diagnosing average levels of glucose in patients' blood and managing both type I and type II diabetes mellitus. Diabetes is a chronic disease that occurs when either an inadequate amount of insulin is produced by the pancreas or when the body cannot use the insulin it produces effectively. POC HbA1C testing assesses the average level of blood sugar over 2 to 3 months in an individual.
The main products of POC HbA1C testing include instruments and consumables. Instruments refer to measuring devices for determining the present value of a quantity under observation. The technologies involved in POC HbA1C testing include ion-exchange HPLC, enzymatic assay, affinity binding chromatography, turbidimetric inhibition immunoassay, and others. Various end-users utilize these testing devices, including hospitals, physician offices or outpatient centers, home care providers, and other end-users.
The Poc Hba1C testing market research report is one of a series of new reports from The Business Research Company that provides Poc Hba1C testing market statistics, including Poc Hba1C testing industry global market size, regional shares, competitors with a Poc Hba1C testing market share, detailed Poc Hba1C testing market segments, market trends and opportunities, and any further data you may need to thrive in the Poc Hba1C testing industry. This Poc Hba1C testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The poc hba1c testing market size has grown rapidly in recent years. It will grow from $0.85 billion in 2023 to $0.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The expansion observed in the historical period can be attributed to strong economic growth in emerging markets, an increase in diabetes prevalence, a rise in COVID-19 cases, and an increase in disposable income.
The poc hba1c testing market size is expected to see rapid growth in the next few years. It will grow to $1.46 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The anticipated growth in the forecast period can be attributed to rising government support, an increasing prevalence of diabetes, particularly type II diabetes, the easy accessibility of POC tests, and the faster availability of results in POC testing compared to conventional laboratory testing procedures. Key trends expected in the forecast period include a focus on HbA1c microfluidic immunofluorescence tests, the increasing use of home collection HbA1c testing kits, a focus on HbA1c tests using capillary electrophoresis technology, and advances in testing technologies.
The anticipated increase in diabetes prevalence is set to drive the growth of the POC HbA1C testing market. Factors such as prolonged working hours, sedentary lifestyles, and unhealthy dietary habits contribute to the rise in diabetes cases. The diagnosis and monitoring of diabetes can be facilitated by point-of-care (POC) HbA1c assays, enabling community settings and healthcare facilities without laboratories to address the disease. As per the International Diabetes Federation's data from December 2021, around 537 million adults aged 20-79 are afflicted by diabetes, a figure expected to reach 643 million by 2030 and 783 million by 2045. Hence, the escalating diabetes prevalence serves as a driving force for the growth of the POC HbA1C testing market.
Government support is poised to be a significant contributor to the expansion of the POC HbA1c testing market in the forecast period. Increased government initiatives to enhance public awareness about available healthcare solutions are bolstering overall market growth. In August 2022, the government of Kenya entered a memorandum of understanding with Novo Nordisk, a Denmark-based pharmaceutical company, aiming to supply medical commodities for the treatment and self-care of type 1 diabetes in children. The collaboration involves improving diabetes clinics' infrastructure, supplying medical and laboratory equipment, training healthcare professionals, and providing free insulin and blood glucose monitoring supplies to children and teenagers. This growing government support is expected to be a driving factor for the POC HbA1c testing market.
Technological advancements represent a notable trend gaining traction in the POC HbA1C testing market. Major market players are channeling investments into developing advanced technologies to provide rapid and accurate results, helping laboratories manage the increasing demand for testing. Abbott, a prominent U.S.-based medical devices and healthcare company, introduced the Afinion HbA1c Dx assay. This in vitro diagnostic test, designed for the Afinion 2 Analyzer and Afinion AS100 Analyzer, is the only rapid POC test cleared by the U.S. FDA to aid healthcare professionals in diagnosing diabetes and assessing the patient's risk. Delivering reliable results of glycated hemoglobin in just three minutes, the Afinion HbA1c Dx assay facilitates quick evaluation and individualized care planning during a single doctor's visit.
The rise of home collection HbA1c testing kits has emerged as a growing trend in POC HbA1c testing, offering patients the convenience of collecting blood samples at home. These kits allow users to send their samples to a laboratory for analysis, providing a accessible option for monitoring blood glucose control in diabetes patients. Labcorp, an American healthcare company, introduced the Diabetes Risk (HbA1c) at-home collection test in response to the COVID-19 pandemic, allowing diabetic patients to manage their condition at home while minimizing exposure to the virus. This shift towards home testing demonstrates the adaptability of POC HbA1c testing to changing healthcare needs.
In August 2022, Precision Diabetes, Inc., a U.S.-based biotechnology research company, and DxGen Corp., a South Korea-based diagnostic manufacturing company, formed an exclusive partnership in the United States. The collaboration aims to market Epithod AutoDx, an automated POC analyzer that analyzes a comprehensive profile of diabetes tests. The system is designed for use in smaller laboratories, outpatient clinics, and hospitals, providing real-time actionable test findings for practitioners. Precision Diabetes, Inc. utilizes advanced diabetic biomarkers and algorithms for precision medicine in diabetes, while DxGen Corp. is a global manufacturer of Point-Of-Care (POC) diagnostics. This partnership underscores the global collaboration driving innovation in POC HbA1c testing.
Major companies operating in the poc hba1c testing market report are F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Bio-Rad Laboratories Inc., Menarini Group, Danaher Corporation, Tosoh Bioscience Inc., ARKRAY Inc., i-SENS, Inc., Abbott Laboratories, Trinity Biotech PLC, Aina Blood Monitoring Sysyem, Getein Biotech Inc., Sugentech, Inc., Alere Inc., bioMerieux, EKF Diagnostics, HemoCue, PTS Diagnostics, Diazyme Laboratories, Osang Healthcare, Ortho Clinical Diagnostics, Ascensia, Platinum Equity (LifeScan), Becton Dickinson and Company, Medtronic PLC, Kainico Ltd., Evia Medical Technologies, Agamatrix Inc., Bionime Corporation, B Braun Melsungen AG.
North America was the largest region in the POC HbA1C testing market in 2023. Africa is expected to be the fastest-growing region in the forecast- period. The regions covered in the poc hba1c testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the poc hba1c testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The POC HbA1C testing market consists of sales of small instruments, portable instruments, and HbA1C testing devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Poc Hba1C Testing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on poc hba1c testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for poc hba1c testing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The poc hba1c testing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.