The Global Glycated Albumin Assay Market is poised to increase in trends by rapid diagnostic adoption

The Global Glycated Albumin Assay Market is poised to increase in trends by rapid diagnostic adoption

The glycated albumin assay market refers to tests and kits that are used to detect and measure glycated albumin levels in the blood. Glycated albumin is formed through a non-enzymatic reaction between albumin and glucose, and is used as a marker for glycemic control and diabetes management. The glycated albumin assay offers advantages over traditional HbA1c testing as it is not affected by red blood cell life span and provides a shorter-term indication of glycemic trends. The rising global burden of diabetes has significantly driven the demand for precision monitoring and management of blood glucose levels, fueling the need for glycated albumin assays.

The Global Glycated Albumin Assay Market is estimated to be valued at US$ 68.7 million in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024–2032.

Key Takeaways

Key players operating in the glycated albumin assay market are Asahi Kasei Corporation, Diazyme Laboratories, Inc., LifeSpan BioSciences, Inc., ELabScience, Cusabio Technology LLC.

The growing global prevalence of diabetes has emerged as a major factor spurring the demand for the Glycated Albumin Assay Market size due to the need for advanced diagnostic tools for optimal glycemic management. Glycated albumin assays are gaining traction due to their advantage over HbA1c tests in assessing short-term glycemic variations. Major players are focusing on geographical expansion strategies across high potential emerging markets to leverage the rising healthcare expenditure on diabetes management. Increasing availability of glycated albumin assays across healthcare settings is supporting the global expansion of the market.

Market key trends

One of the key trends witnessed in the glycated albumin assay market is the development and launch of rapid point-of-care testing devices. This has provided significant impetus to the market by enabling efficient glycemic monitoring outside laboratory settings. Major players have introduced portable rapid test kits that can analyze glycated albumin levels from tiny blood samples within 15 minutes. This has supported diabetes case management in homecare, ambulatory, and clinically challenging situations. The increasing adoption of rapid POC testing is expected to significantly support the growth of the glycated albumin assay market during the forecast period.

Porter’s Analysis

Threat of new entrants: High investment required for manufacturing kits and reagents acts as a barrier for new entrants.

Bargaining power of buyers: Large number of buyers from research institutes and diagnostic labs limits their bargaining power.

Bargaining power of suppliers: Established kit manufacturers and research organizations make it difficult for buyers to switch to alternate suppliers.

Threat of new substitutes:

The Glycated Albumin Assay Market Challenges and Opportunities arise from the fact that there is no direct substitute for the glycated albumin assay, as it is an important clinical test for diabetics.

Competitive rivalry: Competition is high among major players due to similar product offerings.

Geographical Regions

North America dominates the glycated albumin assay market owing to increasing cases of diabetes and growing adoption of glycated albumin testing over HbA1c. According to the Centers for Disease Control and Prevention, around 34.2 million people in the U.S. have diabetes as of 2018.

Asia Pacific is poised to be the fastest growing regional market for glycated albumin assay due to rising geriatric population, growing healthcare expenditure, and increasing awareness about diabetes management. China, India and Japan account for the majority of the diabetes patient pool in Asia Pacific, driving demand for diagnostic tests like glycated albumin assay.

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