The Glycated Albumin Assay Market Scope is poised to expand, with the market size estimated at $0.2 billion in 2023 and expected to reach $0.3 billion by 2028, growing at a CAGR of 8.9%. This thorough research explores industry trends, pricing, patent insights, and stakeholder analysis. Market growth is driven by increased governmental focus on disease diagnosis, high diabetes prevalence, and initiatives to raise awareness about diabetes diagnosis.
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The technologies that power glycated albumin assays are rapidly evolving to help overcome some challenges of utilizing these tests, including improving their clinical utility. The peroxidase method is an example that uses an immunological sandwich amplification and the enzyme peroxidase to affect a signal. This procedure is the enzyme-antibody solution, the PAP immune complex. It is exquisitely sensitive and has been used with high sensitivity and specificity.
The glycated albumin assay market is segmented based on application into prediabetes, type 1 diabetes, and type 2 diabetes. In 2022, the type 2 diabetes segment accounted for the largest glycated albumin assay market share. The significant growth of this segment is mainly attributed to the increased burden of type 2 diabetes worldwide, especially in the emerging countries in Asia Pacific, and increased government focus on the diagnosis of diabetes and ailments related to diabetes.
Based on end user, the glycated albumin assay market is segmented into hospitals and diabetes care centers, diagnostic laboratories,, and other end users. The hospital and diabetes care centers segment accounted for the largest glycated albumin assay market share in 2022. The increasing number of hospitals worldwide, owing to the growing burden of diseases & disorders, is a primary growth driver for this segment. Major economies are focusing on increasing the establishment of hospitals in their respective healthcare systems.
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. The North American market is estimated to experience the highest share during the forecast period. The increasing population of elderly (65 years and above) and their age-related chronic diseases and improved focus on spreading awareness of the importance of early diagnosis and control of chronic diseases like diabetes can be credited for North America's significant market share.
Asahi Kasei Corporation (Japan), Beijing Strong Biotechnologies, Inc. (China), Diazyme Laboratories, Inc. (US), DxGen Corp. (South Korea), Weldon Biotech, Inc. (India), Hymes Biotech (China) are some of the key players operating in this ecosystem.
Several countries in the Asia Pacific region have also implemented initiatives to promote the adoption of early diagnosis of diabetes and related diseases. For instance, countries such as India and Japan have launched precision diabetes diagnosis and control programs focusing on diabetes-related research and diabetes diagnosis and control in routine healthcare. Such factors are expected to support the region's glycated albumin assay market growth.
Some key players in the glycated albumin assay market are Asahi Kasei Corporation (Japan), Beijing Strong Biotechnologies, Inc. (China), Diazyme Laboratories, Inc. (US), DxGen Corp. (South Korea), Weldon Biotech, Inc. (India), and Hzymes Biotech (China). The market leadership of these players stems from their comprehensive product portfolios. These dominant market players possess several advantages, including strong marketing and distribution networks, substantial research and development budgets, and well-established brand recognition.
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