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| Global Glycated Albumin Assay Market Growth |
The Glycated Albumin Assay is an advanced diagnostic tool to monitor glucose
levels in patients suffering from diabetes and chronic kidney diseases.
Glycated albumin forms when blood glucose binds non-enzymatically and
irreversibly to albumin in the blood. It provides a reliable measure of
glycemic control over a shorter period of 2-3 weeks, compared to 3 months for
HbA1c.
The global
Glycated Albumin Assay Market is estimated to be valued at US$ 571 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increasing prevalence of diabetes and chronic kidney diseases has
accelerated the demand for reliable glycemic monitoring tools like Glycated
Albumin Assay. According to WHO, the number of people with diabetes has risen
from 108 million in 1980 to 422 million in 2014. Improper control of blood
sugar levels can lead to chronic complications affecting eyes, kidneys, heart
and nerves. Regular monitoring of glucose levels is vital to preventing such
long term consequences. This has boosted the adoption of Glycated Albumin Assay
which provides a short term indication of hyperglycemia, compared to HbA1c.
Continuous launch of advanced testing kits by leading players is also fueling
the Glycated Albumin Assay market growth.
Segment Analysis
The global Glycated Albumin Assay market is dominated by Point of Care Testing
segment which accounts for around 55% of the total market share. Point of Care
Testing solutions enable decision making directly at the site of patient care
without the need to transport the samples to the central laboratory. The
turnaround time for results is very less in Point of Care Testing compared to
Laboratory Testing. This has increased its adoption across various healthcare
facilities for monitoring glycated albumin levels of patients suffering from
diabetes and chronic kidney disease.
Key Takeaways
Global
Glycated Albumin Assay Market Growth is expected to witness high growth
over the forecast period of 2023 to 2030. The global Glycated Albumin Assay
Market is estimated to be valued at US$
571 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
The North
American region currently dominates the market due to the high prevalence of
diabetes in countries like the United States. According to the International
Diabetes Federation, around 37 million Americans suffered from diabetes in
2021. This has fueled the demand for glycated albumin assays in the region for
effective diabetes management. The Asia Pacific region is expected to witness
the highest growth during the forecast period due to the rising geriatric
population suffering from diabetes in countries like China and India. According
to the International Diabetes Federation, China accounts for the highest number
of diabetes patients worldwide with around 140 million diabetes patients in
2021. This presents significant opportunities for players in the region to
offer advanced glycated albumin assays and aid diabetes management.
Key players operating in the Glycated Albumin Assay market are AgSource,
AgroLiquid, Crop Nutrition Laboratory Services Ltd., Element Materials
Technology, Eurofins Scientific, Picketa Systems Inc., Spectrum Analytic,
Soilscape Solutions, Wallace Laboratories LLC., Ward Laboratories, Inc., Waters
Agricultural Laboratories, Inc. The market is highly competitive with the
presence of several global and regional players. Players are focusing on new
product launches and geographic expansions to strengthen their market presence.
For instance, in January 2023, AgroLiquid launched a new range of precision
agriculture services for farmers in Canada.
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