Global Glycated Albumin Assay Market Size study & Forecast, by Product Type (Human Glycated Albumin Assay, Animal Glycated Albumin Assay), by Application (Diagnostics, Research, Others), by End User (Hospitals, Diagnostic Centers, Research Centers, Others

Global Glycated Albumin Assay Market Size study & Forecast, by Product Type (Human Glycated Albumin Assay, Animal Glycated Albumin Assay), by Application (Diagnostics, Research, Others), by End User (Hospitals, Diagnostic Centers, Research Centers, Others) and Regional Analysis, 2023-2030

Global Glycated Albumin Assay Market is valued approximately USD 528.4 Million in 2022 and is anticipated to grow with a healthy growth rate of more than 8.07% over the forecast period 2023-2030. A glycated albumin assay is a laboratory test that measures the level of glycated albumin in the blood. Glycated albumin is a form of albumin, a protein found in the bloodstream that has been modified by the attachment of glucose molecules. This assay provides valuable information about short-term glycemic control and is used as an alternative or complement to the measurement of glycated hemoglobin (HbA1c) in individuals with diabetes or situations where HbA1c measurements may be unreliable. The glycated albumin assay helps healthcare professionals assess and manage glycemic control, enabling timely adjustments to treatment plans and reducing the risk of diabetes-related complications. The driving factors boosting the market growth are rising prevalence of diabetes and growing geriatric population.

According to the World Health Organization, diabetes will afflict 537 million adults globally in 2021, with one in ten experiencing other diabetes. Furthermore, geriatric, and obese populations are predisposed to chronic diseases. According to the World Bank Group, the world old population was 727 million in 2020, and it is predicted to treble over the next three decades, reaching 1.5 Million in 2050. Moreover, technological advancements in assay methods and instruments and growing focus on disease management and prevention may create abundant opportunities in the market. However, the high cost of Glycated Albumin Assays and competition from alternative glycemic markers such as HbA1c and continuous glucose monitoring (CGM) systems stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Glycated Albumin Assay Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of branded products and the region's increasing disease prevalence. However, Asia Pacific is expected to become the fastest growing region during the forecast period, owing to factors such as rising geriatric and target populations, an increase in the number of collaborations for biosimilar development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market player included in this report are:
Abbexa Ltd.
Asahi Kasei Pharma Corporation
Laboratory Corporation of America
EFK Diagnostics
Elabscience Biotechnology Inc.
Diazyme Laboratories Inc.
Abnova Corporation
Maccura Biotechnology Co., Ltd.
AMS Biotechnology Ltd.
Epinex Diagnostics Inc.

Recent Developments in the Market:
In February 2023, Biocompare, a life science product directory, has announced its partnership with Scilan, a leading provider of artificial intelligence and machine learning-based solutions for life science tool providers. This strategic collaboration aims to develop new artificial intelligence-based glycated albumin assays.
In January 2023, Diazyme Laboratories, Inc., a certified medical device manufacturer, has announced a partnership with Carolina Liquid Chemistries Corp, a leading provider of chemistry instruments and reagents. This strategic collaboration aims to leverage the strengths and expertise of both companies to enhance their offerings in the field of diagnostic chemistry.

Global Glycated Albumin Assay Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Product Type, Application, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Product Type:
Human Glycated Albumin Assay
Animal Glycated Albumin Assay

By Application:
Diagnostics
Research
Others

By End User:
Hospitals
Diagnostic Centers
Research Centers
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Abbexa Ltd.
Asahi Kasei Pharma Corporation
Laboratory Corporation of America
EFK Diagnostics
Elabscience Biotechnology Inc.
Diazyme Laboratories Inc.
Abnova Corporation
Maccura Biotechnology Co., Ltd.
AMS Biotechnology Ltd.
Epinex Diagnostics Inc.

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