HbA1c Analyzers Market

HbA1c Analyzers Market Outlook (2022 - 2028)

The amount of hemoglobin in the blood is proportional to the amount of glucose. Measuring hemoglobin is regarded as an important diagnostic tool in the therapy regimens and monitoring dietary control throughout diabetes treatment. During the forecast period, the HbA1c analyzers market is expected to be driven by an increase in the prevalence and incidence of diabetes and diabetes-related disorders. At a CAGR of 5.4%, the Global HbA1c Analyzers Market is expected to reach $2,664.3 million by 2028.

HbA1c Analyzers Market Demand Analysis (2013-2021) v/s Market Outlook (2022 - 2028)

The rising prevalence of diabetes is likely to drive growth in the global HbA1c Analyzers Market over the forecast period. Furthermore, rising elderly populations, increasing healthcare infrastructure, and a high incidence of undiagnosed diabetes in emerging countries are likely to drive market growth throughout the forecast period.

Key Drivers to the HbA1c Analyzers Market

Rising Prevalence of Diabetes and Diabetes-related Illnesses

The rise in the incidence of diabetes and diabetes-related conditions is expected to drive the HbA1c analyzers market over the forecast period, as hemoglobin measurement is regarded as an important diagnostic method during the treatment of diabetes. According to the International Diabetes Federation, around 463 million individuals (aged 20 to 90) were diagnosed with diabetes in 2019, with the figure expected to rise to 700 million by 2045. Diabetes and diabetes-related illnesses are on the rise, which will boost the market growth.

Increased Adoption of HbA1c Analyzers

Preferences for reagents and consumables are increasing as the need for regular diabetes checkups is increasing. HbA1c analyzers are widely being used in diagnostic centers because they give quicker results, allowing for early commencement of treatment procedures. Diagnostic centers create huge revenue generation opportunities because buying laboratory equipment in bulk allows them to keep their costs under control. HbA1c analyzers are also rapidly being adopted to assess patients' glucose levels before surgery, which is positively boosting the global HbA1c analyzers market.

Technological Advancements

The HbA1c analyzers market is rapidly expanding, and the key players are likely to benefit from several growth prospects throughout the forecast period. To meet the demand for quick and accurate measurement, market leaders are continuously developing new testing methods and devices. Technological advancements and the emergence of novel testing methodologies and portable devices are expected to create profitable opportunities for the HbA1c analyzers market in the near future.

Restraints to the HbA1c Analyzers Market

“High Costs, Inaccuracies and Stringent Regulations”

HbA1c analyzers are expensive, and their adoption in developing countries is low, which is likely to hamper the market's growth. The expensive production costs of these devices result in the limited production of HbA1c analyzers, creating a barrier for the key players in the HbA1c market. Another significant restraining factor is inaccuracies in tests due to differences in interpretations. Apart from this the stringent rules and regulations could also hurt the HbA1c Analyzer Market's growth rate.

Impact of Covid-19 Pandemic

“Significant Drop in Testing Volumes and Sales”

The COVID-19 pandemic had halted the world, impacting millions of people and businesses. The HbA1c testing volume and sales declined by 66% in March and April 2020 due to postponed testing due to COVID-19 restrictions. The testing volume bounced back in late 2021 because of the Covid-19 lockdown getting lifted up and restrictions as a result of successful vaccination drives.

Competitive Landscape

The HbA1c Analyzers Market is moderately competitive, with both domestic and foreign players present, and it is dominated by global giants. Emerging players in the HbA1c Analyzers market are working on developing new testing methods and devices to increase their product footprint in the global HbA1c Analyzers market.

• In June 2019, Abbott Laboratories launched Afinion HbA1c Dx test, a 3-minute, in-office A1c blood test for diagnosing diabetes.
• In May 2019, Siemens Healthineers launched its new Atellica CH Enzymatic Hemoglobin A1c Assay to for diagnosing and monitoring diabetes.

HbA1c Analyzers Market Industry Report Scope

HbAc Analyzers Market Categorization

HbA1c Analyzers Market by Technology

• High-performance Liquid Chromatography (HPLC)
• Ion Exchange Chromatography
• Boronate Affinity Technology
• Boronate Affinity HPLC

HbA1c Analyzers Market by End-user

• Hospitals
• Specialty Clinics
• Diagnostic Centers
• Others

HbA1c Analyzers Market by Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

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