Global Glycated Albumin Assay Market is valued approximately USD 528.4 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 8.07% over the forecast period 2023-2030. A glycated albumin assay is a laboratory test that measures the level of glycated albumin in the blood. Glycated albumin is a form of albumin, a protein found in the bloodstream that has been modified by the attachment of glucose molecules. This assay provides valuable information about short-term glycemic control and is used as an alternative or complement to the measurement of glycated hemoglobin (HbA1c) in individuals with diabetes or situations where HbA1c measurements may be unreliable. The glycated albumin assay helps healthcare professionals assess and manage glycemic control, enabling timely adjustments to treatment plans and reducing the risk of diabetes-related complications. The driving factors boosting the market growth are rising prevalence of diabetes and growing geriatric population.
According to the World Health Organization, diabetes will afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. Furthermore, geriatric, and obese populations are predisposed to chronic diseases. According to the World Bank Group, the world old population was 727 million in 2020, and it is predicted to treble over the next three decades, reaching 1.5 Million in 2050. Moreover, technological advancements in assay methods and instruments and growing focus on disease management and prevention may create abundant opportunities in the market. However, the high cost of Glycated Albumin Assays and competition from alternative glycemic markers such as HbA1c and continuous glucose monitoring (CGM) systems stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Glycated Albumin Assay Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of branded products and the region’s increasing disease prevalence. However, Asia Pacific is expected to become the fastest growing region during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations for biosimilar development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market player included in this report are:
Asahi Kasei Pharma Corporation
Laboratory Corporation of America
Elabscience Biotechnology Inc.
Diazyme Laboratories Inc.
Maccura Biotechnology Co., Ltd.
AMS Biotechnology Ltd.
Epinex Diagnostics Inc.
Recent Developments in the Market:
Ø In February 2023, Biocompare, a life science product directory, has announced its partnership with Scilan, a leading provider of artificial intelligence and machine learning-based solutions for life science tool providers. This strategic collaboration aims to develop new artificial intelligence-based glycated albumin assays.
Ø In January 2023, Diazyme Laboratories, Inc., a certified medical device manufacturer, has announced a partnership with Carolina Liquid Chemistries Corp, a leading provider of chemistry instruments and reagents. This strategic collaboration aims to leverage the strengths and expertise of both companies to enhance their offerings in the field of diagnostic chemistry.
Global Glycated Albumin Assay Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Application, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Human Glycated Albumin Assay
Animal Glycated Albumin Assay
By End User:
Middle East & Africa
Rest of Middle East & Africa