HbA1c Laboratory Testing Market Size Projections Exhibit a CAGR of 5.7%, Likely to Attain a Value of USD 9.5 Billion by 2031
Integration of Electronic Health Records (EHRs) and telehealth solutions is likely to spur the HbA1c laboratory testing market growth in the forthcoming years.
Wilmington, Delaware, United States, Oct. 16, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. –The global HbA1c laboratory testing market is expected to record a 5.7% CAGR from 2023 to 2031, reaching US$ 9.5 billion by 2031. The increase in the prevalence of diabetes is significantly reshaping the healthcare landscape, particularly in terms of diagnostic testing. Among the pivotal tools in managing diabetes, the HbA1c laboratory test has emerged as a critical tool.
The rise in advancements in testing technology, a surge in focus on preventive healthcare, and the presence of favorable reimbursement policies and government initiatives are the key factors driving the demand for HbA1c testing. The surge in demand for HbA1c tests is predominantly driven by the escalating prevalence of diabetes, making it a cornerstone in disease management and prevention.
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HbA1c results help tailor treatment plans and assess the effectiveness of current therapies. It also allows healthcare providers to make informed decisions regarding medication adjustments and lifestyle modifications. Maintaining a target HbA1c level can reduce the risk of diabetes-related complications. For individuals with diabetes, HbA1c testing offers insights into their overall health and empowers them to take control of their condition.
There are several companies vying for the HbA1c laboratory testing market share by offering innovative testing methodologies, automation, and improved accuracy.
Several HbA1c laboratory testing companies are investing significantly in research & development and engaging in partnerships & agreements to expand their HbA1c Laboratory Testing Industry presence. A few vital players operating in the global HbA1c laboratory testing market are:
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Siemens Healthcare GmbH
- Thermo Fisher Scientific, Inc.
- Ortho Clinical Diagnostics
- ARKRAY, Inc.
- EKF Diagnostics Holdings plc
- Meril Life Science Pvt. Ltd
Key Takeaways from the Market Study
- The HbA1c laboratory testing market acquired US$ 5.8 billion in 2022.
- The ion exchange high performance liquid chromatography (HPLC) technology segment is projected to dominate the global sector during the forecast period.
- Asia Pacific is likely to hold a significant share from 2023 to 2031.
Key Trends in the HbA1c Laboratory Testing Market
- In the past few years, advancements in testing technology have revolutionized the field of healthcare diagnostics, particularly in the realm of diabetes management. One of the significant beneficiaries of these technological leaps is the HbA1c laboratory testing business.
- Point-of-care testing (POCT) for HbA1c allows for near-patient testing and is convenient for healthcare providers and patients. It also allows quick adjustments to diabetes management plans.
- The traditional method of measuring HbA1c involved time-consuming and cumbersome processes but the landscape is significantly changing due to the integration of cutting-edge technologies.
- The introduction of High Performance Liquid Chromatography (HPLC) and capillary electrophoresis methods are fueling the HbA1c laboratory testing market revenue. These technologies offer great precision and speed in HbA1c measurements, enabling healthcare providers to make quick and accurate clinical decisions.
- HPLC is considered the gold standard method for HbA1c testing as it is highly accurate and precise. It is also very sensitive, which means that it can detect even small amounts of HbA1c in the blood.
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Regional Landscape of the HbA1c Laboratory Testing Market
- Asia Pacific is anticipated to hold a significant share from 2023 to 2031 according to the latest HbA1c laboratory testing market forecast. The increase in the diabetes population in countries, such as India and China, is boosting the market dynamics of the region.
- According to the International Diabetes Federation, in 2021, China recorded about 141 million diabetic patients aged from 20 to 79 years, which was the highest number in any country. This figure is projected to reach 174 million by 2045.
- In North America, a strong emphasis is observed on diabetes management and prevention driven by public health initiatives, healthcare policies, and awareness campaigns. HbA1c testing plays a vital role in monitoring and managing diabetes, helping healthcare providers assess the effectiveness of treatment plans and make necessary adjustments. This focus on diabetes management contributes to the demand for HbA1c testing.
- The rise in the adoption of advanced tools, the surge in the prevalence of diabetes, and the increase in disposable income are fueling the HbA1c laboratory testing market trajectory in Europe. The region has one of the highest rates of diabetes in the world, with over 50 million people living with the condition.
- In 2023, the American Diabetes Association (ADA) and the American Association of Clinical Chemistry (AACC) released new guidance regarding the use of laboratory analysis in the diagnosis and management of diabetes. The ADA’s guidance recommends HbA1c as the primary test employed for diagnosing diabetes and monitoring glycemic control.
- In February 2022, Abbott announced collaborations with health-tech partners BeatO, PharmEasy, Sugar.fit, GOQii, Zyla Health, 1MG, Healthifyme, and Fitterfly to lead a new era of holistic diabetes management. Through these collaborations, Abbott aims to provide glucose monitoring solutions to 8 million people living with diabetes, of which around 6.5 million users can access through 1MG and PharmEasy.
HbA1c Laboratory Testing Market Segmentation
- Ion Exchange High Performance Liquid Chromatography (HPLC)
- Boronate Affinity Chromatography
- Direct Enzymatic Assay
- Diagnostic Laboratories
- Hospital-based Laboratories
- Others (Research Laboratories, etc.)
- North America
- Asia Pacific
- Latin America
- The Middle East & Africa
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