Hemoglobin Testing Global Market Report 2023
Major players in the hemoglobin testing market are Abbott Laboratories Inc., Bayer Medical Care Inc., Danaher Corp., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., Daiichi Sankyo Inc.
New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hemoglobin Testing Global Market Report 2023" - https://www.reportlinker.com/p06466553/?utm_source=GNW
, ACON Laboratories Inc., DiaSys Diagnostic Systems GmbH, EKF Diagnostics Holdings PLC, Epinex Diagnostics Inc., Erba Diagnostics Inc., Alere Inc., ARKRAY Inc., Beckman Coulter Diagnostics Ltd., Diazyme Laboratories Inc., Masimo Corp., Radiometer A/S, Sysmex Corporation, BIOMEDOMICS INC., Germaine Laboratories Inc., Hemosure Inc., Humasis Co. Ltd., Immunostics Inc., LifeSign LLC, Medix Biochemica Oy AB, NanoenTek Inc., Nova Biomedical Corp, Quidel Corporation, and TCS Biosciences Ltd.
The global hemoglobin testing market is expected to grow from $2.39 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 6.49%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hemoglobin testing market is expected to reach $3.36 billion in 2027 at a CAGR of 7.26%.
The hemoglobin testing market consists of revenues earned by entities by providing services such as hemoglobin-cyanide, vanzetti’s azide methemoglobin, reagent-less, non-invasive methods, and hemoglobin electrophoresis.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Hemoglobin testing is a medical procedure that measures the amount of hemoglobin in the blood. Hemoglobin is a protein present in red blood cells that transports oxygen from the lungs to the tissues and organs of the body.
Asia-Pacific and North America were the largest region in the hemoglobin testing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in hemoglobin testing are reagents and consumables and equipment.The reagents and consumables segment in the hemoglobin testing market refers to the various chemical reagents and consumable products that are used in the process of hemoglobin testing.
It uses various technologies such as chromatography, immunoassay, spectrophotometry, and others, and is utilized in various applications such as hospitals, clinics, laboratories, home care settings, blood banks, and others.
A rising prevalence of chronic disorders such as diabetes is expected to propel the growth of hemoglobin testing.Diabetes is a chronic condition that arises when the pancreas does not create enough insulin or when the body does not utilize the insulin that is produced adequately.
Hemoglobin A1c tests (HbA1c) are used to monitor glucose levels in diabetic patients and are recommended by the American Diabetes Association as a viable option for fasting blood glucose for diabetes diagnosis.For instance, in November 2022, according to the US Census Bureau, a US-based department of the Federal Statistical System, more than 34 million Americans have diabetes, with an additional 88 million at risk.
Additionally, in December 2021, according to the IDF Diabetes Atlas 10th edition published by the International Diabetes Federation, a Belgium-based global diabetes community, diabetes afflicted 536,000 individuals in 2021, and by 2030, it is predicted to climb to 642,800.By 2045, it will reach 783,700 individuals globally.
Therefore, the rising prevalence of chronic disorders such as anemia and diabetes will drive the hemoglobin a1c testing devices market.
Technological advancements are a key trend gaining popularity in the hemoglobin testing market.Major companies operating in the hemoglobin testing market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in April 2020, Nova Biomedical, a US-based company that develop blood testing analyzers for medical use, introduced the Stat EMS Basic blood testing device, which can deliver lab-calibre findings in under 40 seconds.Stat EMS Basic is a novel, lightweight soft container that holds all system components—meters, test strips, controls, and lancets, and is small enough to fit in a medic’s backpack.
Testing is convenient and affordable since test strips and controls don’t need to be refrigerated.
In December 2021, F.Hoffmann-La Roche AG, a Switzerland-based pharmaceutical and diagnostic company, acquired TIB Molbiol Group for an undisclosed amount.
Through this acquisition, F.Hoffmann-La Roche AG improved its capability for rapidly developing tests for new pathogens and possible health hazards such as infectious illnesses.
TIB Molbiol Group is a Germany-based diagnostics company that performs blood screening for testing, life science research, and medical diagnostics.
The countries covered in the hemoglobin testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hemoglobin testing market research report is one of a series of new reports that provides hemoglobin testing market statistics, including hemoglobin testing industry global market size, regional shares, competitors with a hemoglobin testing market share, detailed hemoglobin testing market segments, market trends and opportunities, and any further data you may need to thrive in the hemoglobin testing industry. This hemoglobin testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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