The increasing prevalence of diabetes remains a key factor fuelling HbA1c sales globally. Increasing geriatric population and the different advantages of HbA1c analyzers over fasting plasma glucose measurements, are also expected to increase the growth of the Hba1c analyzers market. Global sales are likely to reach approximately US$ 2 Bn by the end of 2029, according to a new study by Persistence Market Research (PMR).
Apart from factors driving the growth of the HbA1c analyzers market, there are few factors that are likely to restrain the growth of the HbA1c analyzer market. The poor availability of HbA1c analyzers and lack of awareness regarding HbA1c analyzers in some of the developing regions is expected to hinder the growth of HbA1c analyzers market.
Moreover, the presence of different variants, such as genetic variants, Elevated Fetal Hemoglobin (HbF), and chemically modified derivatives of hemoglobin, can affect the accuracy of HbA1c analyzers.
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Increasing per capita healthcare expenditure is one of the main macroeconomic factors that enable people to opt for the appropriate method for the diagnosis of diseases. Changes in the structure of the economy and the availability of technologically advanced HbA1c analyzers are also among factors significantly contributing to the growth of the HbA1c analyzers market.
However, various other dynamics, such as favorable government regulations & reimbursement, increasing healthcare awareness, increasing adoption of HbA1c analyzers, etc., are expected to fuel the growth of the HaA1c analyzers market.
Several key manufacturers are focusing on mergers and acquisitions. For example, in September 2017, Abbott completed the acquisition of Alere, Inc. In July 2017, Abbott and Bigfoot Biomedical signed an agreement to commercialize diabetes management systems. Moreover, key players operating in the HbA1c market are involved in new product development.
Based on product type, the global HbA1c analyzers market has been segmented into equipment and reagents & consumables. In terms of revenue, the reagents & consumables segment in the global HbA1c analyzers market is expected to hold a significant share over the forecast period.
Based on technology, the global HbA1c analyzers market has been segmented into ion exchange chromatography, high-performance liquid chromatography, high-performance liquid chromatography, and boronate affinity technology. The high-performance liquid chromatography segment is expected to hold a prominent share in the global HbA1c analyzers market.
Based on the modality, the global HbA1c analyzers market has been segmented into portable HbA1c analyzers and benchtop HbA1c analyzers. The benchtop HbA1c analyzers segment is expected to hold a significant share of the global HbA1c analyzers market.
Based on end users, the global HbA1c analyzers market has been segmented into hospitals, diagnostic centers, and academic & research institutes. The diagnostic centers segment is expected to account for a major share of the global HbA1c analyzers market.
Geographically, the global HbA1c analyzers market is segmented into Latin America, North America, East Asia, Europe, South Asia, Middle East & Africa, and Oceania. North America followed by Europe is expected to hold a significant revenue share in the global HbA1c analyzers market.
Companies operating in the global HbA1c analyzers market are focusing or merging with other companies to expand the HbA1c analyzers market. Key players of the HbA1c analyzers market are also focusing on new product development and approval.
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