Several global organizations or associations assigned an HbA1c target as mentioned below:
The global hemoglobin A1c testing devices market is estimated to account for US$ 4,129.4 Mn in terms of value by the end of 2027.
Global Hemoglobin A1c Testing Devices Market: Drivers
Significant benefits of hemoglobin A1c tests are expected to propel growth of the global hemoglobin A1c testing devices market over the forecast period. For instance, in August 2019, Primary PartnerCare ACO Independent Practice Association, Inc. reported that increased frequency of hemoglobin A1c tests improves quality of life and decreases cost of care for diabetic patients.
Global Hemoglobin A1c Testing Devices Market: Opportunities
Increasing number of lab collection sites is expected to offer lucrative growth opportunities for players in the market. For instance, in April 2020, Citizens Memorial Hospital started a popup lab collection site for Bolivar (Missouri U.S.) area patients needing routine and annual wellness lab tests.
Global Hemoglobin A1c Testing Devices Market: Restraints
Presence of substitutes such as the simple blood glucose test is expected to hinder growth of the global hemoglobin A1c testing devices market. Healthcare practitioners and patients are well adapted to the conventional blood glucose testing methods and related point-of-care devices as they are less painful than laboratory based HbA1c tests and are also easier to operate at the patient level.
The global hemoglobin A1c testing devices market was valued at US$ 1,863.7 Mn in 2019 and is forecast to reach a value of US$ 4,129.4 Mn by 2027 at a CAGR of 10.5% between 2020 and 2027. Increasing prevalence of diabetes along with increasing healthcare infrastructure is expected to assist the growth of the market during the forecast period
Laboratory Testing Devices segment held dominant position in the global hemoglobin A1c testing devices market in 2019, accounting for 61.9% share in terms of value. Increasing product launch is anticipated to drive the market growth during the forecast period,
The market is witnessing launch of low cost approaches. For instance, in October 2019, ForaCare, a technology company, launched FORA A1C100 Hemoglobin A1c Analyzer, a new, low-cost, approach to A1c testing.
In the U.S., several private and public establishments offer free diabetes screenings. For instance, in October 2019, Hy-Vee, a supermarket chain based in the U.S., announced to offer free diabetes screenings throughout the month of November 2019.
Global Hemoglobin A1c Testing Devices Market: Competitive Landscape
Major players operating in the global hemoglobin A1c testing devices market include, Abbott Laboratories, ARKRAY, Inc., Bio-Rad Laboratories, Inc., Chek Diagnostics (Polymer Technology Systems, Inc.), Danaher Corporation (Beckman Coulter), F. Hoffmann-La Roche Ltd., Menarini Group, Sebia, Siemens Healthcare, Tosoh Corporation, and Trinity Biotech plc.
Global Hemoglobin A1c Testing Devices Market: Key Developments
August 2019: Drawbridge Health, Inc., a privately held healthcare technology company, received 510(k) clearance from the U.S. FDA for the OneDraw A1C Test System, comprised of the OneDraw Blood Collection Device and the OneDraw A1C Test