Glycated Albumin Assay Market size is expected to reach US$ 504 million by 2034 | Future Market Insights, Inc.
US market for glycated albumin tests to grow 8.7% annually. Personalized medicine in US boosts demand for tests to manage diabetes. 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
NEWARK, Del, March 11, 2024 (GLOBE NEWSWIRE) -- The glycated albumin assay market is expected to reach US$ 223.9 million by 2024. The market size is expected to reach US$ 504 million by 2034, projected at a CAGR of 8.4%. The glycated albumin assay is a test for quantifying glycated albumin in human serum. In diabetic patients, evaluating glucose control over the past few weeks is especially important. This test is useful when the commonly used HbA1c test fails to reflect glycemic control appropriately.
Recent improvements have aimed to improve the accuracy and reliability of glycated albumin readings. This includes developing enzymatic ways to remove endogenous glycated amino acids and peroxide, resulting in more precise readings. New glycated albumin tests have been developed and are traceable to standard reference materials. As a result, laboratories will be able to compare and compare their results.
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Glycated albumin is used as a short- to medium-term integrated glycemic control monitor. Being able to represent the last few weeks' glycemic status makes it a useful tool for tracking diabetic patients' glycemic control. Researchers have offered different experimental affinity approaches for measuring glycated albumin. These methods are intended to increase the accuracy and reliability of glycated albumin assays, especially in point-of-care testing situations.
Studies have compared glycated albumin to glycated haemoglobin (HbA1c) as glycemic management indicators. Glycated albumin has been shown to represent variations in plasma glucose over the short and postprandial periods, offering additional information to HbA1c. Novel solutions for glycated albumin monitoring have been described, along with alternative experimental affinity approaches. These approaches intend to increase the accuracy and reproducibility of glycated albumin readings, particularly in point-of-care testing (POCT) situations.
Enzymatic and immunoassay-based techniques have increased the accuracy and reliability of glycated albumin readings. These approaches provide benefits such as quicker turnaround times, sensitivity to recent glycemic changes, and independence from factors that may affect traditional glycated hemoglobin (HbA1c) testing.
Key Takeaways from the Market Study:
The United States is estimated to register at a CAGR of 8.7% by 2034.
A 13.7% CAGR was recorded between 2019 and 2023 for Japan's market.
China is expected to achieve a CAGR of 9% from 2024 to 2034.
The type 2 diabetes segment is anticipated to expand at 8.1% CAGR by 2034.
Hospitals & diabetic care centers are expected to show a compound annual growth rate of 7.8% during the forecast period.
“As the healthcare sector grows and research and development investments become increasingly prevalent, they will drive demand for the glycated albumin assay market,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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Glycated Albumin Assay Market Report Scope:
Attributes | Details | ||
Estimated Market Size in 2024 | US$ 223.9 million | ||
Projected Market Valuation in 2034 | US$ 504 million | ||
Value-based CAGR 2024 to 2034 | 8.4% |
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Forecast Period | 2024 to 2034 | ||
Historical Data Available for | 2019 to 2023 | ||
Market Analysis | Value in US$ million | ||
Key Regions Covered |
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Key Market Segments Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Competitive Landscape:
Developing strategic partnerships can help enterprises expand output and satisfy consumer demand, which in turn increases revenue and market share. Promoting innovative products and technologies will make them profitable for users in the long run.
Hzymes Biotechnology Co., Ltd.: Hzymes Biotechnology, as the name implies, is most likely involved in the development of enzymes and biotechnological products. They may have experience developing assays for a variety of biomarkers, including glycated albumin.
Beijing Strong Biotechnologies, Inc- Beijing Strong Biotechnologies, situated in China, is most likely engaged in biotechnological research and development. They may be developing assays and diagnostic tools, such as those for assessing glycated albumin levels.
Diazyme Laboratories, Inc. (General Atomics)- Diazyme Laboratories specialises in the development and manufacturing of clinical diagnostic reagents. They may have diabetes tests and/or solutions for testing glycated albumin in clinical samples.
Glycated Albumin Assay - Key Segments:
By Application:
Type 2 Diabetes
Type 1 Diabetes
Prediabetes
By End User:
Hospitals & Diabetic Care Centers
Diagnostic Laboratories
Others
By Region:
North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa
Authored By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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