The global glycated albumin assay market, by Product Type (Human Glycated Albumin Assay and Animal Glycated Albumin Assay), by Application (Diagnostics (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes) and Research), by End User (Hospital, Diagnostic Centers, Research Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was estimated to be at US$ 428.1 million in 2019, and is expected to exhibit a CAGR of 7.7%, during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
High prevalence of diabetes is expected to drive global glycated albumin assay market growth, as glycated albumin assay is one of the effective laboratory tests to monitor and reflect glycated albumin level in the body. Furthermore, companies involved in diabetes care, which develop drugs, devices, and diagnostic tests are investing significantly in increasing awareness about the disease, which in turn, will lead to higher diagnosis rate, especially in countries with high prevalence such as India. For instance, in November 2018, Novo Nordisk, a leading insulin manufacturer launched '1000-Day Challenge' program in India. This program was intended to increase awareness and education among healthcare professionals in India. Such programs are helpful in increasing diagnosis rate and expected to increase customer base for glycated albumin assay.
Browse 32 Market Data Tables and 35 Figures spread through 176 Pages and in-depth TOC on 'Glycated Albumin Assay Market, by Product Type (Human Glycated Albumin Assay and Animal Glycated Albumin Assay), by Application (Diagnostics (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes) and Research), by End User (Hospital, Diagnostic Centers, Research Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027'
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Increasing usage of glycated albumin assay in predicting prognosis of hemodialysis patients due to increasing prevalence of diabetic kidney disease is expected to offer a robust growth opportunity for the players in the global glycated albumin assay market.
For instance, according to the American Society of Nephrology, in December 2017, diabetic kidney disease (DKD) became the leading cause of End-Stage Renal Disease (ESRD) in the U.S. Moreover, around 30% patients among all type 1 diabetes mellitus cases and 40% patients among all type 2 diabetes mellitus cases suffer from diabetic kidney disease (DKD).
Furthermore, rising adoption inorganic growth strategies such as partnerships by key players, is expected to drive the glycated albumin assay market growth. For instance, in August 2016, GlycoMark, Inc. entered into partnership agreement with Diazyme Laboratories to launch the first diabetes panel. The newly launched panel include assays for measuring both intermediate-term and long-term glycated Serum Protein/GSP (albumin) and enzymatic HbA1c.
Key Takeaways of the Global Glycated Albumin Assay Market: