Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Hemoglobin A1c (HbA1c) Testing Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The Hemoglobin A1c (HbA1c) testing market is experiencing substantial growth, driven largely by the increasing global prevalence of diabetes. Reports indicate that the market, valued at $1.66 billion in 2023, is expected to reach $1.83 billion by 2024. This growth translates to a compound annual growth rate (CAGR) of 10.4%. Factors contributing to this rise include heightened diabetes screening programs, healthcare initiatives, advancements in diagnostic technology, and the demand for point-of-care testing.
Technological Advancements Steer the Market Forward
Technological development in HbA1c testing apparatuses is a significant factor pushing market expansion. High-performance liquid chromatography (HPLC) technology, for instance, has been instrumental in promoting accuracy and efficiency in diabetes monitoring. The market has observed strategic moves from leading companies, as evidenced by new product launches from Trivitron Healthcare, which hold promise for high-volume laboratory settings while ensuring rapid results.
Industry Acquisitions Reflect a Forward-Thinking Vision
An acquisition that marks a noteworthy development in the HbA1c testing landscape is Roche Holding AG's procurement of LumiraDx's point-of-care (POC) technology. This $350 million investment enhances Roche's capabilities to offer rapid and reliable testing in decentralized contexts. LumiraDx has been a significant entity in the market for POC technology, offering key assays for HbA1c measurement, and this acquisition is poised to influence the diagnostic services and practices in the industry.
Lucrative Opportunities in the Asia-Pacific Region
While North America continues to hold the largest market share in HbA1c testing, the Asia-Pacific region is anticipated to experience the fastest growth through the forecast period. This expansion is attributable to the increasing adoption of modern healthcare practices and the rise of lifestyle-associated disease incidence.
Key Market Participants
Prominent companies in the HbA1c testing market include international medical technology firms, diagnostics specialists, and leading pharmaceutical companies. These entities are prioritizing innovation, with automated systems for improved disease monitoring and management, pointing to a dynamic market outlook.
The HbA1c testing market report encompasses an analysis of market size, regional market share, competitive landscape, growth trends, and future strategies. It is a comprehensive industry analysis that reflects current developments and anticipates market dynamics in the upcoming years, supporting healthcare providers and industry players in their strategic planning and operational decision-making.
About Hemoglobin A1c (HbA1c) Testing
Hemoglobin A1c (HbA1c) testing is crucial for the diagnosis and management of diabetes. The test measures the percentage of glucose-bound hemoglobin in the blood, offering a reflection of average blood sugar levels over a two to three-month period. Multiple test modalities exist, including laboratory-based and point-of-care testing, each serving various end users like hospitals, clinics, diagnostic laboratories, and home care settings.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $1.83 Billion |
| Forecasted Market Value (USD) by 2028 | $2.74 Billion |
| Compound Annual Growth Rate | 10.6% |
| Regions Covered | Global |
The major companies profiled in this Hemoglobin A1c (HbA1c) Testing market report include:
- Roche Holding AG
- Thermo Fisher Scientific Inc.
- Abbott Laboratories
- Danaher Corporation
- Siemens Healthineers
- Tosoh Corporation
- Hitachi High-Technologies Corporation
- Beckman Coulter Inc
- Sysmex Corporation
- Bio Rad Laboratories Inc
- ARKRAY Inc
- Randox Laboratories Ltd
- Ortho Clinical Diagnostics
- Agappe Diagnostics Ltd
- SEKISUI Diagnostics LLC
- Helena Laboratories
- Transasia Bio Medicals Ltd
- EKF Diagnostics
- Trinity Biotech plc
- HemoCue AB
- CPC Diagnostics Pvt Ltd
- PTS Diagnostics
- Menarini Diagnostics srl
- Diazyme Laboratories Inc
- Osang HealthCare Co Ltd
- Eurolyser Diagnostica GmbH
- DiaSys Diagnostic Systems GmbH
For more information about this report visit https://www.researchandmarkets.com/r/ve2d6o
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