Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Glycated Albumin Assay Market Insights
Glycated albumin is the higher glycated portion of fructosamine. It is measured by a standardized enzymatic methodology, which is easy to perform. Glycated albumin is considered as a potential tool for the diagnosis of diabetes. This glycated albumin is a better marker of short-term glycemic control than glycated hemoglobin (A1C) test. According to an article published in the National Center for Biotechnology Information (NCBI), 2016, glycated albumin assay is the efficient way to reduce diabetic complications and manage diabetic patients by early diagnosis.
The global glycated albumin assay market was estimated to be valued at US$ 428.1 million in 2019, and is expected to exhibit a CAGR of 7.7% during the forecast period (2019-2027).
Figure 1. Global Glycated Albumin Assay Market Share (%), By Product Type
Source: Coherent Market Insights Analysis (2019)
Increasing research and development activities, in order to develop novel diagnostic approach for diabetes and regulatory approval for such assay and tests are expected to be major factors driving growth of the global glycated albumin assay market over the forecast period
Increasing research and development activities for development of albumin assay test is expected to drive market growth over the forecast period. According to the article published in Journal of Laboratory and Precision Medicine in September 2019, glycated albumin appears to have potential as a glycation index in diagnosing and screening diabetes parameters such as evaluating glycemic control status especially for patients with end-stage renal disease (ESRD) and pregnant women as a predictor of diabetic complications
Moreover, increasing launches of digital healthcare platform by key players operating in the market is expected to propel the segment growth. For instance, in November 2016, Epinex Diagnostics, Inc. launched ‘Am I Diabetic’ mobile phone app for iPhone and android devices, on the occasion of National Diabetes Month. The function of this app is to provide educational information and awareness about diabetes.
Rising adoption of inorganic growth strategies such as collaborations by key players, in order to develop and launch innovative glycated albumin assay is expected to drive the market growth. For instance, in July 2018, Ortho Clinical Diagnostics (Ortho) entered into collaboration with Diazyme Laboratories, Inc. to introduce its three new Microtip Partnership Assays (MSA) such as Glycated Serum Protein (GSP), Lipoprotein (a) (Lp (a)), and Cystatin C assays.
Launch of glycated hemoglobin assay for diagnosing diabetes mellitus is expected to hamper the global glycated albumin assay market growth
Continuous research and development in assay technology has led to approvals and introduction of better and affordable products in the field of clinical diagnosis. For instance, in June 2019, Abbott received the U.S. FDA approval for its Afinion HbA1c Dx assay, a rapid point-of-care test for the diagnosis of diabetes. The test delivers accurate and precise1,2 glycated hemoglobin (HbA1c) results. The Afinion HbA1c Dx assay, used for monitoring and diagnosis, complements the Afinion HbA1c assay, which is used for monitoring only. However, launching of such advanced glycated hemoglobin assay is expected to hinder the glycated albumin assay market growth over the forecast period.
Global Glycated Albumin Assay Market- Regional Analysis
On the basis of region, the global glycated albumin assay market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Among regions, North America is expected to hold a dominant position in the market, owing to increasing prevalence of diabetes in North America. For instance, according to the U.S. Centers for Disease Control and Prevention (CDC), in 2017, over 100 million adults were diagnosed with diabetes and prediabetes. Furthermore, according to CDC, as of 2015, around 30.3 million adults (9.4% of total U.S. population) suffered from diabetes and another 84.1 million suffered from prediabetes.
Moreover, Europe glycated albumin assay market is expected to witness significant growth over the forecast period, owing to the availability of CE marked glycated albumin assay in Europe. For instance, the glycated albumin assay, Lucica Glycated Albumin-L, developed by Asahi Kasei Pharma is available in the Europe market. The company received CE marking for Lucica Glycated Albumin-L in 2015
Figure 2: Global Glycated Albumin Assay Market Share (%), By Region
Source: Coherent Market Insights Analysis (2019)
Global Glycated Albumin Assay Market - Competitive Landscape
Key players operating in the global glycated albumin assay market include Asahi Kasei Corporation, Diazyme Laboratories, Inc., LifeSpan BioSciences, Inc., Biomatik Corporation, Abbexa Ltd., Geno Technology, Inc., DRG International, Inc., AMS Biotechnology (Europe) Limited, Abnova Corporation, Ethos Biosciences, Inc., Epinex Diagnostics Inc., DxGen Corp., and PathShodh Healthcare Private Limited