Global Glycated Albumin Assay Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Diabetes

Glycated albumin assay helps in monitoring the quality of diabetes management and glycemic control in patients with diabetes. It is a convenient method for assessing short and intermediate glucose control in diabetic patients. The global glycated albumin assay market is estimated to be valued at US$ 250 Mn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Increasing prevalence of diabetes: According to the International Diabetes Federation, approximately 537 million adults aged between 20-79 years were living with diabetes in 2021 and by 2045 this number is expected to rise to 643 million. Growing prevalence of diabetes is directly fuelling the demand for glycemic control monitoring tests such as glycated albumin assay.

Growing diagnostic applications of glycated albumin: Glycated albumin assay is increasingly being used as a biomarker to diagnose poor glycemic control in patients without symptoms or those with normal HbA1C levels. It also helps in early diagnosis of diabetes, especially gestational diabetes in pregnant women. Expanding diagnostic applications are boosting the adoption of glycated albumin assay kits.

SWOT Analysis
Strength: Glycated albumin assay kits offer accurate, simple and easy-to-use technology for measuring glycated albumin levels. This helps in efficient monitoring of long-term glycemic control in diabetic patients. Also, the assays help physicians in identifying risk of diabetes complications at an early stage. They provide reproducible and reliable results over a wide range of glycated albumin concentrations.

Weakness: The glycated albumin assays are complex to perform and require specific laboratory equipment and trained personnel. This increases the operational costs. Also, lack of standardization and uniform clinical guidelines for glycated albumin testing hinders its widespread adoption.

Opportunity: With rising diabetes prevalence worldwide, there is significant scope for increasing adoption of glycated albumin assays. They can help overcome limitations of existing HbA1c tests and aid in improved glycemic management. Growing awareness about benefits of glycated albumin monitoring will drive demand.

Threats: Presence of competing glycemic markers like fructosamine and HbA1c limits the market potential of glycated albumin. Researchers are actively exploring newer glycemic indicators as well, which can substitute existing assays. Stringent regulations for new assay approvals also act as a challenge.

Key Takeaways
The Global Glycated Albumin Assay Market Demand is expected to witness high growth at a CAGR of 20% during the forecast period of 2024-2031. Growth can be attributed to increasing diabetes cases worldwide and limitations of existing HbA1c tests.

Regional analysis indicates that Asia Pacific will dominate the market during the projected timeframe. This is due to rising healthcare investments, growing medical tourism and large diabetic population in countries like India and China. North America is also a major region supported by well-established medical infrastructure and favorable reimbursement policies.

Key players operating in the glycated albumin assay market include Asahi Kasei Pharma, DIAZYME, Abnova, LifeSpan and Exocell. They offer a wide range of glycated albumin assay kits and reagents optimized for clinical laboratories as well as point-of-care applications. Continuous innovations are helping them strengthen market presence.

For more details on the report, Read- https://www.pressreleasebulletin.com/global-glycated-albumin-assay-market-demand-share-analysis/

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