Globally, for millions of people living with diabetes, maintaining normal or near-normal glucose levels is essential for reducing effects of diabetes complications. Therefore a high standard of reproducibility in glycohemoglobin measurement is vital for glycohemoglobin analyzers for diabetes monitoring.
Glycohemoglobin analyzers measure the amount of glucose in a patient's red blood cells in last few months, and allow physicians to track the progress of patient’s health and prescribe necessary changes to the current treatment, if any.Nowadays, new portable glycohemoglobin analyzers are floating onto the market which are used at the point-of -care-clinics, at the physician's office and also at homecare settings.
The global glycohemoglobin analyzers market may likely to foresee growth in the forecast period 2018-2028. The number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014, thus increasing demand for point-of-care testing devices such as glycohemoglobin analyzers and its tools.
The rise of economic power in some regions have facilitated healthcare service including usage of glycohemoglobin analyzers for diabetes treatment. Such developments have increased demand for glycohemoglobin analyzers and its tools. Utility, portability and improvements in accuracy have transformed glycohemoglobin analyzers it into a home care and physician office device. Further, healthcare awareness amongst glycemic patients to maintain near-normal glucose levels have fuelled the demand forglycohemoglobin analyzers globally.
However, high cost, stringent reimbursement regulations and poor supply reach of glycohemoglobin analyzers is expected to restrain the glycohemoglobin analyzers market growth during the forecast period. For example, developing nations such as China and India, patients bear the expenses for test. Additionally, in some developed countries of North America and European nations, there still exists reimbursement limit on the patient for number of glycohemoglobin analyzers test.
On market opportunity, players involved in glycohemoglobin analyzers market should focus on the analyzer’s accuracy, precision, and usability. Besides, the manufacturers should seek information from distributors and suppliers to provide crucial insights of different purchasing facilities, product development, cost and purchasing power. Such information promises new advancements in glycohemoglobin analyzers market.
The global prevalence of diabetes mellitus continues to increase, with prevalence of more than 366 million patients worldwide. Therefore, glycohemoglobin analyzers have become a quintessential tool in the diabetes testing repertoire. Glycohemoglobin analyzers is also used in blood banks to check the amount of glucose in donor’s red blood cellsduring blood transfusion.
Based on market competitiveness, rivalry intensity amongst glycohemoglobin analyzers will remain from medium to high. However, on the basis of product innovation and technology, the degree of competition will be moderate in glycohemoglobin analyzers market.
Geographically, North America will hold the largest share in glycohemoglobin analyzers devices market in terms of revenue. Increasing prevalence of diabetes and rise in geriatric population in the region will increase glycohemoglobin analyzers usage. Additionally, increase in technological advancements in glycohemoglobin analyzers and launch of its innovative testing tools will also be the key factor.
The growing demand for home healthcare devices is expected to provide further opportunities for the glycohemoglobin analyzers market to grow. In some of the developed and growing economies of Europe, Asia Pacific and South America, declining in devices prices, increasing patient healthcare education, and regular monitoring of blood glucose levels will account for the growth of the glycohemoglobin analyzers market.
Globally, glycohemoglobin analyzers market of China and India will grow at promising CAGR during the forecast period owing to high incidence diabetes in both the countries. Lack of awareness about newly glucose monitoring testing systems and low adoption to new technologies in diabetic treatment, will make Africa’s glycohemoglobin analyzers market as least growing nation in terms of both CAGR and revenue generation.
Some of the key players present in global glycohemoglobin analyzers market include Abbott, Trinity Biotech Ireland, Siemens Healthcare Private Limited, PTS Diagnostics, Tosoh Corporation, Bio-Rad Laboratories, Inc, F. Hoffmann-La Roche Ltd, Erba Mannheim, Convergent Technologies GmbH & Co. KG and Bayer AG. In addition presence of small and local manufacturers across the countries will account for competiveness in glycohemoglobin analyzers market.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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