HBA1c Laboratory Tests Market: Overview
- The term HbA1c corresponds to glycated hemoglobin. HbA1c progresses when a protein hemoglobin present in red blood cells that transports oxygen throughout body joins with blood glucose, thereby becoming 'glycated’.
- This test is conducted on people with Type 1 and Type 2 diabetes. The normal range for HBA1c is less than 6%. They are also known as glycosylated or glycated hemoglobin.
- The measurement of glycated hemoglobin (HbA1c) helps physicians to obtain a lucid picture of average blood sugar levels prevalent for a period of weeks/months
- The global partial HBA1c laboratory tests market is projected to expand at a significant pace during the forecast period. The growth of HBA1c Laboratory Tests market is expected to be driven by increase in prevalence of diabetes, rise in prescription rate of HBA1c tests by physicians, low price of tests, and awareness about complications of high diabetes levels.
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Key Drivers of Global HBA1c Laboratory Tests Market
- The global HBA1c laboratory tests market is expected to be driven by rise in diabetic population, increase in number of HBA1c laboratory tests, and technological advancements
- According to World Health Organization and International Diabetes Federation statistics, around 422 million people were suffering from diabetes in 2014. The global prevalence of diabetes has increased from 4.7% in 1980 to 8.5% in 2014.
- Large number of employers across the world have introduced wellness programs, which ensure routine medical tests for employees in order to maintain the overall productivity and resource efficiency. These initiatives, wherein an employee’s diagnostic tests and sometimes, even treatments are sponsored have increased the testing volume of clinical laboratories significantly, thereby driving the market revenue. Moreover, such wellness programs play an important role in restoring the overall productivity in case of infectious diseases, which tend to affect a large number of people simultaneously.
- In April 2017, Quest Diagnostics Health & Wellness collaborated with the American Diabetes Association in the fight against diabetes. Quest Diagnostics Health & Wellness donated US$ 20,000 to the American Diabetes Association for every employee biometric wellness screening.
North America to Hold Major Share of Global HBA1c Laboratory Tests Market
- North America is projected to account for a prominent share of the global market during the forecast period. Increase in awareness about these tests, high rate of adoption of HbA1c tests, owing to increased physicians prescriptions, and technological advancements in the U.S. are expected to fuel the growth of HBA1c laboratory tests market in the region.
- Favorable reimbursement policies, increase in the number of laboratories for hemoglobin A1c testing, growth of diabetes among the geriatric population, and rise in funding by governments are anticipated to propel the HBA1c laboratory tests market during the forecast period
- Increase in the number of patients with diabetes visiting hospitals and clinics and focus of new players on partnerships with laboratories will propel the HBA1c laboratory tests market in the U.S.
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Key Players Operating in Global Market
Major players operating in the global HBA1c laboratory tests market are:
- Abbott Laboratories
- Tosoh Biosciences
- Alere Inc.
- Bio-Rad Laboratories
- Trinity Biotech
Global HBA1c Laboratory Tests Market: Research Scope
Global HBA1c Laboratory Tests Market, by Indication
- Type 1 Diabetes
- Type 2 Diabetes
Global HBA1c Laboratory Tests Market, by Technology
- Ion-exchange HPLC
- Boronate Affinity
- Direct Enzymatic Method
Global HBA1c Laboratory Tests Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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