Glycated Albumin Assay Market by Application (Prediabetes, Type 1 Diabetes, Type 2 Diabetes), End User (Hospitals & Diabetic Care Center, Diagnostic Laboratory) & Region (North America, Europe, APAC, Latin America, & MENA) - Global Forecast to 2028

Glycated Albumin Assay Market by Application (Prediabetes, Type 1 Diabetes, Type 2 Diabetes), End User (Hospitals & Diabetic Care Center, Diagnostic Laboratory) & Region (North America, Europe, APAC, Latin America, & MENA) - Global Forecast to 2028

The global glycated albumin assay market is projected to reach USD 0.3 billion by 2028 from USD 0.2 billion in 2023, at a CAGR of 8.9% during the forecast period. Market growth is driven by factors such as the increased number of diabetic patients above the age of 65 years and government initiatives for disease diagnosis. On the other hand, challenges associated with the glycated albumin assay market, like unfavorable reimbursement scenarios, are the major factors restricting market growth.

“The prediabetic segment accounted for the highest growth rate in the glycated albumin assay market, by application, during the forecast period”

The glycated albumin assay market is segmented into prediabetes, type 1 diabetes, and type 2 diabetes. In 2022, the prediabetes segment accounted for the highest glycated albumin assay market growth rate. The increasing focus on the prevention of lifestyle diseases like diabetes, growth in the number of diagnostic laboratories, and improving healthcare infrastructure in emerging countries are major factors contributing to this segment's growth.

“The diagnostic laboratories segment accounted for the highest growth in the glycated albumin assay market, by end-user, during the forecast period”

The glycated albumin assay market is segmented into hospitals and diabetes care centers, diagnostic laboratories, and other end-user based on end users. In 2022, the diagnostic laboratories segment accounted for the highest glycated albumin assay market growth rate. Diagnostics laboratories often offer cost-effective and convenient testing options for healthcare providers and patients. By outsourcing glycated albumin testing to diagnostics laboratories, healthcare providers can avoid the need for in-house testing facilities and associated costs. Additionally, patients can visit diagnostics laboratories for their glycated albumin assays without the need for hospitalization or specialized clinic visits. The cost-effectiveness and convenience of diagnostics laboratories make them an attractive option, leading to increased demand and segment growth.

“Asia Pacific: The fastest-growing region in glycated albumin assay market”

The North American, European, Asia Pacific, Latin American, Middle Eastern, and African regions make up the major segments of the worldwide glycated albumin assay market. The highest CAGR is anticipated to be recorded over the forecast period in the Asia Pacific region. The glycated albumin assay market in this region is expanding as a result of an increase in diabetes awareness programmes and favourable government healthcare policies.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%

By Designation: C-level - 27%, D-level - 18%, and Others - 55%

By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6% , and the Middle East & Africa – 4%

List of Companies Profiled in the Report:

Asahi Kasei Corporation (Japan)

Beijing Strong Biotechnologies, Inc. (China)

Diazyme Laboratories, Inc. (US)

DxGen Corp. (South Korea)

Weldon Biotech, Inc.(India)

Hzymes Biotech (China)

Research Coverage:

This report provides a detailed picture of the global glycated albumin assay market. It aims at estimating the size and future growth potential of the market across different segments, such as application, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profile and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall glycated albumin assay market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.