The Global Hemoglobin A1c Monitoring Devices Market is Projected to Reach US$2.5 Billion by 2024

The Need for Effective Diabetes Monitoring and Management Drives Growth in the Global 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 Hemoglobin A1c Monitoring Devices market is projected to reach US$2.5 billion by 2024, driven by the rapidly expanding population of diabetics and the growing need for effective diabetes diagnosis and monitoring tools.

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. With diabetes reaching epidemic levels, there is strong potential for diabetes diagnostic and monitoring devices or tools. With HbA1c considered to be an indicator of the blood glucose levels in the body, hemoglobin A1c (HbA1c) testing is attracting the attention of the healthcare industry and patients alike. The numerous advantages offered by HbA1c tests have led to the emergence of HbA1c as an essential assay for diabetes testing and monitoring, thus driving growth in the global HbA1c monitoring devices market.

Driven by the growing number of individuals with diabetes mellitus and the subsequent increase in demand for diabetes diagnostic and monitoring devices, the global market for HbA1c monitoring devices is witnessing stable growth. The well-established advantages of HbA1c testing are mainly responsible for the growing adoption of the tests. The explosive growth of diabetes mellitus across the world and the need to regularly monitor blood glucose levels to manage the disease is driving growth in the HbA1c testing devices market. In particular the growing numbers of elderly population and those suffering from obesity are at a higher risk of developing diabetes mellitus. The market benefits from the fact that physicians are increasingly prescribing HbA1c tests to patients, thus leading to a steady increase in the HbA1c test volume.

HbA1c testing device market is also being propelled by the emergence of new technologies for diabetes management along with growing awareness levels about preventive care. The increased approval and commercialization of HbA1c testing devices for diabetes diagnosis is further anticipated to fuel demand for market growth in the upcoming years. Another factor fueling growth in the HbA1c testing devices market is the shift towards direct-to-consumer testing, which is attributed to the growing patient preference for home care rather than testing at labs. In direct-to-consumer testing, labs send a professional to the individual location for collection of blood sample, thus eliminating the need for the patient to visit hospitals or labs for tests.

As stated by the new market research report on Hemoglobin A1c Monitoring, the United States represents the largest regional market, worldwide. The advantage of a well-established and modern healthcare infrastructure and high level of awareness among patients about continuous monitoring as a means of diabetes management presents considerable opportunities for the region’s HbA1c testing devices market. POC HbA1C testing is finding higher adoption in the region, due to the growing awareness levels of patients and the presence of a well-established and advanced healthcare infrastructure network. Asia-Pacific is forecast to register the fastest CAGR of 10.1% over the analysis period. The region’s growth is attributed to the large unmet healthcare needs of the population, a large and growing diabetic population and continuous rise in healthcare spending levels of governments and consumers.

Major players in the market include A.Menarini Diagnostics Ltd., Abbott Laboratories, Alere Inc., ARKRAY Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Diazyme Laboratories Inc., EKF Diagnostics Holdings Plc, HemoCue® AB, OSANG Healthcare Co., 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 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 Hemoglobin A1c Monitoring market is analyzed by the product segments - Laboratory Testing and Point of Care Testing.

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