CHICAGO, July 10, 2023 /PRNewswire/ -- The glycated albumin assay industry is poised for significant growth and advancements in the near future. With the increasing prevalence of diabetes and the need for effective monitoring of glycemic control, glycated albumin testing is expected to gain prominence in clinical practice. This assay offers several advantages over traditional glycated hemoglobin (HbA1c) testing, including shorter turnaround times, sensitivity to recent glycemic changes, and independence from factors such as erythrocyte lifespan and certain hemoglobin variants. The development of innovative technologies and methods, such as enzymatic and immunoassay-based approaches, will further improve the accuracy and reliability of glycated albumin measurements. Moreover, the integration of glycated albumin testing with digital health platforms and point-of-care devices will enhance accessibility and convenience for patients and healthcare providers. As the demand for personalized medicine and targeted therapies continues to grow, glycated albumin assays hold great potential for optimizing diabetes management, guiding treatment decisions, and reducing the risk of diabetes-related complications. The future of the glycated albumin assay industry is promising, with advancements in technology and increasing clinical adoption set to revolutionize glycemic monitoring and improve patient outcomes.
Glycated Albumin Assay Market in terms of revenue was estimated to be worth $0.2 billion in 2023 and is poised to reach $0.3 billion by 2028, growing at a CAGR of 8.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. Government assistance is stimulating the market. Players in the glycated albumin assay market have significant potential in developing nations like India and Japan.
Additionally, the aging population in developed and developing nations would favorably impact the market for glycated albumin assay. The prevalence of age-related illnesses like diabetes and pancreatic disorders is anticipated to rise dramatically as the senior population is forecast to grow quickly. Numerous test prescriptions to assess the levels of creatinine, albumin, glucose, ketones, and bilirubin are caused by diagnosing and treating such disorders, which is driving the market's expansion. Browse through 100 market data tables and 44 figures spread across 180 pages and the in-depth TOC of the glycated albumin assay market.
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Browse in-depth TOC on "Glycated Albumin Assay Market"
70 - Tables
33 - Figures
126 - Pages
Glycated Albumin Assay Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $0.2 billion |
Estimated Value by 2028 | $0.3 billion |
Growth Rate | Poised to grow at a CAGR of 8.9% |
Market Size Available for | 2021–2028 |
Forecast Period | 2023–2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Application, End-User, and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Rising investments in healthcare and life sciences research |
Key Market Drivers | Rising prevalence of diabetes |
The type 2 diabetes segment accounted for the largest share of the glycated albumin assay market, by application segment, in 2022
Based on application, the glycated albumin assay market is segmented into prediabetes, type 1 diabetes, and type 2 diabetes. The type 2 diabetes segment accounted for the largest share of the glycated albumin assay market, mainly due to increased focus on type 2 diabetes care and increased funding for diagnostic research.
Hospitals and diabetes care centers segment to register the highest growth rate during the forecast period
The significant market share of this sector is mostly due to an increased emphasis on early disease diagnosis. Additionally, hospitals and diabetes care facilities are committed to providing patients with diabetes-specialized care. Their focus on comprehensive diabetes care makes them primary locations for conducting glycated albumin assays, which are important diagnostic tests for monitoring glycemic control.
North America is the largest regional market during the forecast period
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the five main geographic segments of the worldwide glycated albumin assay market. In 2022, the glycated albumin assay market's largest regional market was North America. The government's support for regional research and increased funding for the creation of preventive care diagnostics can be used to explain North America's significant market dominance.
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Glycated Albumin Assay Market Dynamics:
Drivers:
- Rising prevalence of diabetes
Restraints:
- Unfavorable reimbursement scenario
Opportunities:
- Rising investments in healthcare and life sciences research
Challenges:
- Changing regulatory landscape
Key Market Players:
The major players operating in this market are Asahi Kasei Corporation (Japan), Beijing Strong Biotechnologies, Inc. (China), Diazyme Laboratories, Inc. (US), DxGen Corp. (South Korea), Weldon Biotech (India), Hzymes Biotech (China).
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Glycated Albumin Assay Market Advantages:
- Early Glycemic Control Assessment: Glycated albumin testing provides an early and accurate assessment of glycemic control. Unlike HbA1c, which reflects long-term glucose levels, glycated albumin measurements reflect shorter-term changes in blood glucose levels, typically over the preceding two to three weeks. This allows for timely intervention and adjustment of treatment plans, enabling healthcare providers to optimize diabetes management and reduce the risk of complications.
- Sensitivity to Glycemic Variability: Glycated albumin assays are highly sensitive to glycemic variability. They can detect rapid fluctuations in blood glucose levels, providing a more dynamic representation of glycemic control. This sensitivity is particularly important for patients with conditions such as gestational diabetes, diabetes in children, and those with brittle diabetes who experience wide fluctuations in blood sugar levels.
- Independence from Hemoglobin Variants: Unlike HbA1c, which can be affected by hemoglobin variants and conditions like anemia, glycated albumin measurements are not influenced by these factors. This independence ensures more accurate and reliable results, eliminating potential confounding factors and allowing for consistent monitoring of glycemic control across different patient populations.
- Rapid Turnaround Time: Glycated albumin assays offer rapid turnaround times compared to other glycemic control markers. Results can be obtained within hours, providing timely information for clinical decision-making. This quick feedback is particularly valuable in emergency situations, postprandial monitoring, and for assessing treatment efficacy in real-time.
- Personalized Medicine Approach: The glycated albumin assay supports a personalized medicine approach to diabetes management. It allows for individualized treatment plans based on a patient's unique glycemic patterns, helping to optimize therapies and achieve better glycemic control. This personalized approach can lead to improved patient outcomes and quality of life.
- Integration with Digital Health Solutions: The glycated albumin assay can be integrated with digital health solutions and electronic medical records, enabling seamless data management and analysis. This integration facilitates remote monitoring, data sharing between healthcare providers and patients, and the generation of personalized reports and trends, enhancing patient engagement and self-management.
- Market Growth Potential: With the increasing prevalence of diabetes worldwide, the glycated albumin assay market has substantial growth potential. The demand for accurate and reliable glycemic control monitoring tools is rising, driven by the need for effective diabetes management, early intervention, and risk reduction. This market growth presents opportunities for innovation, technological advancements, and improved accessibility of glycated albumin testing.
In summary, the glycated albumin assay market offers advantages such as early glycemic control assessment, sensitivity to glycemic variability, independence from hemoglobin variants, rapid turnaround time, personalized medicine approach, integration with digital health solutions, and significant growth potential. These advantages contribute to the growing importance of glycated albumin assays in diabetes management and highlight their potential to improve patient care and outcomes.
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