by Glycated albumin molecules form when albumin binds to glucose in the bloodstream. The global Glycated Albumin Assay Market offers an innovative way to measure glycemic control in patients with diabetes or prediabetes. Glycated albumin assays provide a two to three week measure of average blood glucose levels, compared to Hemoglobin A1c tests which reflect glucose levels over the past three months. The rising diabetic population globally has boosted the need for improved glycemic monitoring tools.
The global Glycated Albumin Assay Market is estimated to be valued at US$ 150 million in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of diabetes around the world has been a key growth driver for the glycated albumin assay market. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 globally, and this number is expected to rise to 700 million by 2045. As diabetes management becomes more challenging with growing patient numbers, the need for accurate short-term glycemic monitoring tools like glycated albumin assays has increased substantially. Advancements in assay technologies and availability of automated testing solutions have further promoted adoption of glycated albumin testing among healthcare providers and patients alike.
SWOT Analysis
Strength: The global Glycated Albumin Assay Market is driven by the increasing prevalence of diabetes and other metabolic diseases. It is more stable and specific biomarker for monitoring glycemic control as compared to HbA1c.
Weakness: High instrument and reagent cost for Glycated Albumin Assay limits its widespread adoption in routine clinical practice. Lack of standardization and validation of glycated albumin assays can affect the accuracy and reproducibility of test results.
Opportunity: Growing diabetes burden globally has increased the demand for improved glycemic monitoring tools. The ability of glycated albumin to detect short term fluctuations in blood glucose levels presents lucrative opportunities.
Threats: Presence of alternative biomarkers like HbA1c and fructosamine limits the replacement of existing diabetes management protocols. Unfavorable reimbursement policies in several countries restrict the usage of glycated albumin assays.
Key Takeaways
The Global Glycated Albumin Assay Market Demand is expected to witness high growth over the forecast period of 2024 to 2031.
North America is currently dominating the market owing to the rising prevalence of diabetes and growing adoption of glycated albumin testing. The increasing diabetes awareness programs in the region are also driving the demand for novel glycemic control markers.
Key players operating in the Glycated Albumin Assay Market are Asahi Kasei Corporation, Diazyme Laboratories, Inc., LifeSpan BioSciences, Inc., Abnova Corporation, DRG International Inc. and Maccura Biotechnology Co., Ltd. These players are focused on expanding their regional presence and manufacturing of cost-effective assays to address the unmet needs in diabetes management.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
