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Albany – NY, Dec. 07, 2017 (GLOBE NEWSWIRE) -- Increasing incidences of diabetes have propelled the need for improved diagnostics in the global healthcare devices. Companies manufacturing critical diagnostic devices are focusing on facilitating products for effective tests. The use of glycated hemoglobin in diagnosis of diabetes mellitus continues to gain traction, creating a steady demand for glycated hemoglobin testing. Transparency Market Research’s recent report on the global glycated hemoglobin testing market delivers a forecast outlook on growing demand for these tests in diagnosis of prevalent disorders such as diabetes.
According to the report, the global market for glycated hemoglobin testing is expected to be worth US$ 705 Mn by the end of 2026. During the forecast period, 2017-2026, the global glycated hemoglobin testing market is expected to expand at a CAGR of 8.8%. Leading manufacturers of medical devices are anticipated to be key participants in the global expansion of the glycated hemoglobin testing market. Companies namely, Siemens Healthcare, Bio-Rad Laboratories, Arkray, Ceragem Medisys, Bayer, Chek Diagnostics, DiaSys Diagnostic Systems, Daiichi Biotech, Diazyme Laboratories, Erba Mannheim, EKF Diagnostics, Human Diagnostics, Menarini, Lite-On Technology, Mindray Medical, TaiDoc Technology, Sebia, Randox Laboratories, Trinity Biotech, and Tosoh Bioscience are expected to be observed as leading manufacturers of devices used in glycated hemoglobin tests.
High Demand for Laboratory Based Tests
Key findings from the report reveal that the global market for glycated hemoglobin testing will witness a significant traction in demand for laboratory based tests. While patients are actively opting for point-of-care glycated hemoglobin testing, laboratories continue to be the key medium where these tests can be executed effectively. In 2017, more than US$ 240 Mn worth of revenues are anticipated to be procured in the global glycated hemoglobin testing market from laboratory based tests. The study also projects that by the end of 2026, point-of-care glycated hemoglobin tests will account for over one-fourth revenue share of the global market.
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North America to Represent Leading Market for Glycated Hemoglobin Testing
A regional analysis on the global glycated hemoglobin testing market has been provided in the report. Increasing presence of diabetics in the US and Canada has been observed as the governing factors for fuelling the growth of the glycated hemoglobin testing market in North America. In the overall glycated hemoglobin testing market, North America is expected to dominate in terms of global revenue share. In 2017, the glycated hemoglobin testing market in North America is estimated to be worth over US$ 110 Mn. Meanwhile, the demand for these tests is also expected to gain traction in Europe and the Asia-Pacific excluding Japan (APEJ) region. Improving healthcare infrastructure and diabetic dietary lifestyles of consumers in these regions are observed as the superficial factors driving the growth of glycated hemoglobin testing market in Europe and the APEJ region.
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Hospitals to Register Highest End-use; Near-Equal Demand for Chromatography and Immunoassays
On the basis of techniques, glycated hemoglobin tests can be carried out through immunoassays and chromatography, among others. In 2017, the sales of devices in the global glycated hemoglobin testing market for chromatography and immunoassay techniques are estimated to showcase near-equal revenue share. Moreover, the use of these techniques will depend largely upon the end-use of glycated hemoglobin tests. Hospitals are anticipated to emerge as the largest end-users in the global glycated hemoglobin testing market. In terms of revenues, the end-use of glycated hemoglobin testing in hospitals is expected to rake in US$ 275 Mn globally by the end of 2026. Diagnostic centers are also estimated to emerge as leading end-users of glycated hemoglobin testing in the global market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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