Global Glycated Albumin Market, by Product Type (Human Glycated Albumin and Animal Glycated Albumin), by Application (Diagnosis (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes)) and Research), by End User (Hospitals/Clinics, Diagnostic Centers, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ XX Mn in 2017 and is projected to exhibit a CAGR of XX% over the forecast period (2018 – 2026).
Increasing approval of novel glycated albumin test kits by key players in the market is expected to expand glycated albumin market size in the near future. For instance, in 2017, Japan-based Asahi Kasei Pharma Corporation received 510(k) clearance from the U. S. Food and Drug Administration (FDA) for its new Lucica Glycated Albumin-L, which is an in vitro diagnostic assay kit formulated for the U.S market. Lucica Glycated Albumin-L is developed for the quantitative measurement of glycated albumin in human serum on compatible clinical chemistry analyzers. The approval of novel glycated albumin test kits from major regulatory bodies is expected to fuel glycated albumin kits/assays market growth over the forecast period.
Browse 35 Market Data Tables and 32 Figures spread through 190 Pages and in-depth TOC on Glycated Albumin Market, by Product Type (Human Glycated Albumin and Animal Glycated Albumin), by Application (Diagnosis (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes)) and Research), by End User (Hospitals/Clinics, Diagnostic Centers, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026
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Furthermore, increasing prevalence of diabetes is expected to increase the demand for glycated albumin test, thereby driving growth of the global glycated albumin assays market. For Instance, according to the data published by the World Health Organization (WHO), in 2014, around 8.5% of the adults aged 18 and above accounting around 422 million adults were suffering from diabetes worldwide. According to a survey conducted by the Center for Disease Control and Prevention (CDC), in 2016, over 30.3 million people in the U.S. were diagnosed with diabetes, which accounts for around 9% of the U.S. population. Such high prevalence of diabetes globally will increase the demand for glycated albumin and therefore, is expected to drive the market growth.
Key Takeaways of the Glycated Albumin Market:
- The global glycated market is expected to exhibit a CAGR of XX% over the forecast period (2018 – 2026), owing to increasing approval of novel glycated albumin kits by major regulatory bodies in the key regions
- North America held dominant position in the global glycated albumin market and is expected to retain its dominance over the forecast period (2018 – 2026), owing to the approval of novel glycated albumin test in the region. For instance, in 2017, Asahi Kasei Pharma Corporation received the U.S. Food and Drug Administration 510(k) clearance for its Lucica Glycated Albumin-L, which is an in vitro diagnostic assay kit formulated for the U.S market.
- Asia Pacific is expected to witness significant growth over the forecast period due to increasing prevalence of diabetes in emerging economies such as India, Japan, and China. For instance, according to a survey conducted by the National Institute of health (NIH), in 2016, over 62 million people were diagnosed with diabetes in India.
- Major players operating in the glycated albumin market include Lifespan Biosciences, Biomatik Corporation, Abbexa Ltd., G Biosciences, DRG International, Inc., Amsbio LLC, Signalway Antibody LLC, United States Biological, Diazyme Laboratories, Abnova Corporation, Maccura Biotechnology Co. Ltd., Exocell Inc., Biorbyt Ltd., and Epinex Diagnostics Inc.
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