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GIA announces the release of a comprehensive global report on Hemoglobin A1c Monitoring markets. Global market for Hemoglobin A1c Monitoring is projected to exceed US$2 billion by 2020 driven by the continuous rise in diabetic population worldwide, and the pressing need for diabetes management through continuous monitoring.
San Jose, California (PRWEB) February 25, 2014
Follow us on LinkedIn - Hemoglobin A1c (HbA1c) monitoring is one of the rapidly growing markets in the diagnostics industry. Hemoglobin A1c test for diabetes monitoring is attracting the attention of healthcare providers and patients alike given its numerous advantages, including the ability to perform tests at any given time in a day without the need for overnight fasting, which is a pre-requisite for traditional oral glucose tolerance test. HbA1c test results also provide physicians with information needed to develop intervention strategies and treatment plans to prevent diabetes-related complications. With diabetes assuming epidemic proportions, there exists strong potential for diabetes monitoring devices including Hemoglobin A1c blood test kits. Aging population, changing lifestyles, and rising obesity levels are contributing to increased number of diabetics worldwide, particularly in countries such as China, India, the United States, Brazil, Russia, Mexico and Indonesia. The need for effective monitoring of diabetes is driving growth in the HbA1c monitoring market. Increasing patient awareness about the advantages of regular monitoring of blood glucose levels in the prevention and control of diabetes is further expected to enhance the average number of tests being performed, thus translating into favorable opportunities for the HbA1c monitoring market.
As stated by the new market research report on Hemoglobin A1c Monitoring, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing regional market. With the number of diabetics continuing to increase owing to rapid urbanization, poor dietary habits, and sedentary lifestyles, developing countries offer favorable opportunities for growth. Growing awareness levels coupled with the tests ability to identify individuals at high risk of developing diabetes favors market growth. Though high cost remains a concern, the need to conduct HbA1c tests on a quarterly basis as opposed to monthly blood sugar level test will likely act in favor of HbA1c testing and systems.
Segment wise, Laboratory-based HbA1c monitoring represents the largest segment in the global HbA1c monitoring market. Laboratories make use of HbA1c analyzers to provide accurate measurement of HbA1c levels in patients. Though laboratory testing dominates the market, the segment faces stiff challenge from the growing popularity of POC testing. Point-of-Care (POC)-based HbA1c monitoring is poised to grow at fastest with a CAGR of 12% over the analysis period, driven by rising incidence of diabetes, convenience benefits, continuous improvements in test reliability and increasing adoption by physicians.
Major players covered in the report include Abbott Laboratories, ARKRAY, Inc., Axis-Shield plc, Bayer Healthcare Diabetes Care, Beckman Coulter, Inc., Bio-Rad Laboratories Inc, Diazyme Laboratories Inc., EKF Diagnostics Holdings Plc, HEMOCUE® AB, Infopia Co. Ltd., Roche Diagnostics, Siemens Healthcare Diagnostics, Tosoh Bioscience, Inc and Trinity Biotech plc.
The research report titled "Hemoglobin A1c Monitoring: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America and Rest of World.
For more details about this comprehensive market research report, please visit http://www.strategyr.com/Hemoglobin_A1c_Monitoring_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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