by Glycated albumin (GA) is a non-enzymatic glycated protein formed by the bonding of glucose to albumin. It serves as an alternative biomarker for average blood glucose levels over a period of 2-3 weeks compared to glycated hemoglobin (HbA1c) which provides an indication of blood glucose levels over a period of 2-3 months. Glycated albumin assay helps in monitoring glycemic control and management of diabetes. It can also be used to diagnose diabetes, assess the risk of diabetes complications, and adjust diabetes treatment plans. Furthermore, GA levels may potentially predict the risk of diabetic nephropathy more precisely than HbA1c.
The global Glycated Albumin Assay Market is estimated to be valued at US$ 571 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing prevalence of diabetes across the globe is a major driver for the glycated albumin assay market. As per the International Diabetes Federation (IDF), around 537 million adults were living with diabetes in 2021 and this figure is estimated to rise to 643 million by 2030 and 783 million by 2045 globally. Moreover, glycated albumin can serve as a better indicator of glycemic control over a short period of time compared to HbA1c. It is more sensitive to changes in blood glucose levels and may potentially help in better diabetes management. This opportunity of offering a better glycemic marker compared to existing options is expected to boost the demand for glycated albumin assays over the forecast period.
Segment Analysis
The global glycated albumin assay market is dominated by the Hospitals & Clinics segment. Hospitals & clinics account for around 55% of the market share as they are the primary centers for diabetes screening, diagnosis & management. Clinics and hospitals across the world conduct routine tests to monitor the glycemic status of diabetes patients through glycated albumin assessment. The increasing prevalence of diabetes is leading to rise in tests conducted in hospitals and clinics, thereby propelling the demand for glycated albumin assays from these end users.
PEST Analysis
Political: Growth in healthcare expenditure by various governments is positively impacting the market. Developing nations are also taking initiatives to improve accessibility of diagnostic services.
Economic: Rising income levels and growing medical insurance coverage are enabling more people to opt for regular health checkups including glycated albumin tests.
Social: Increasing health awareness, longer life expectancy and growing focus on preventive healthcare is driving individuals to monitor & manage chronic diseases like diabetes better.
Technological: New point-of-care testing technologies are making glycated albumin assessment simpler, faster and affordable. Automation in laboratories is helping improve testing capabilities.
Key Takeaways
Global Glycated Albumin Assay Market Growth is expected to witness high growth over the forecast period. The global Glycated Albumin Assay Market is estimated to be valued at US$ 571 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Regionally, North America is expected to dominate the market through 2030. The growing diabetic population, developed healthcare infrastructure and rising insurance coverage are some factors fueling the adoption of glycated albumin tests in the region. The presence of prominent players, growing awareness about glycated albumin testing and large diabetic population are some factors boosting the market in the region.
Key players
Key players operating in the glycated albumin assay market are AgSource, AgroLiquid, Crop Nutrition Laboratory Services Ltd., Element Materials Technology, Eurofins Scientific, Picketa Systems Inc., Spectrum Analytic, Soilscape Solutions, Wallace Laboratories LLC., Ward Laboratories, Inc., Waters Agricultural Laboratories, Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
