The Global Market for Hemoglobin A1c Monitoring Devices is Projected to Reach US$2.2 Billion by 2022

Need for Effective Diabetes Management Fuels Growth in the Hemoglobin A1c Monitoring Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Hemoglobin A1c Monitoring market. The global market for Hemoglobin A1c Monitoring Devices is projected to reach US$2.2 billion by 2022, driven by the growing need for effective diabetes management amidst a rapidly expanding diabetic population worldwide. The advent of HbA1c monitoring devices promising convenience and improved efficacy will also fuel growth in the market.

Hemoglobin A1c (HbA1c) or glycated hemoglobin testing is one of the rapidly growing markets in the diagnostics industry and among the most fascinating areas of point-of-care (POC) diagnostics. The adoption of HbA1c has gained momentum over the last decade as an essential assay for diabetes testing and monitoring. With diabetes reaching epidemic levels, there are strong growth opportunities for diabetes diagnostic and monitoring devices or tools including Hemoglobin A1c blood test. Backed by the need to regularly monitor blood glucose levels to manage the disease, HbA1c testing is expected to record considerable growth in the coming years. Aging world population, rising importance of effective diabetes management, rising patient awareness and well-established advantages offered by HbA1c testing are expected to drive growth in the market. Laboratory-based hemoglobin A1c monitoring devices represents the largest product market, supported by the growing demand for accurate measurement of HbA1c levels in patients and the ensuing preference for laboratory testing. Though laboratory testing continues to dominate the market, the market faces stiff competition from the emergence and growing popularity of point-of-care (POC) testing market. The trend in favor of POC testing devices is largely attributed to the rising incidence of diabetes, growing prominence of self-management of chronic disease conditions, and increasing use of POC HbA1C tests among patients with Type 1 and Type 2 diabetes.

As stated by the new market research report on Hemoglobin A1c Monitoring, the United States represents the largest market worldwide, supported by well-established and modern healthcare infrastructure and high level of awareness among patients over the importance of continuous monitoring in effective diabetes management. Asia-Pacific is forecast to record the fastest CAGR of 10.4% over the analysis period, led by unmet healthcare needs of a growing diabetic population, rising standards of living and continuous rise in healthcare spending.

Major players covered in the report include Abbott Laboratories, Alere Inc., ARKRAY Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Diazyme Laboratories Inc., EKF Diagnostics Holdings Plc, HemoCue® AB, Infopia Co. Ltd., A.Menarini Diagnostics Ltd., PTS Diagnostics, Roche Diagnostics, Siemens Healthineers, Tosoh Bioscience Inc., and Trinity Biotech plc, among others.

The research report titled “Hemoglobin A1c Monitoring: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America and Rest of World. The market is analyzed by the segments, Laboratory Testing and Point of Care Testing.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.