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 test’s 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.