HBA1c Laboratory Tests Market: Overview
· The term HbA1c corresponds to glycated hemoglobin. HbA1c progresses when a protein hemoglobin present in red blood cells that transports oxygen throughout body joins with blood glucose, thereby becoming 'glycated’.
· This test is conducted on people with Type 1 and Type 2 diabetes. The normal range for HBA1c is less than 6%. They are also known as glycosylated or glycated hemoglobin.
· The measurement of glycated hemoglobin (HbA1c) helps physicians to obtain a lucid picture of average blood sugar levels prevalent for a period of weeks/months
· The global partial HBA1c laboratory tests market is projected to expand at a significant pace during the forecast period. The growth of HBA1c Laboratory Tests market is expected to be driven by increase in prevalence of diabetes, rise in prescription rate of HBA1c tests by physicians, low price of tests, and awareness about complications of high diabetes levels.
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Key Drivers of Global HBA1c Laboratory Tests Market
· The global HBA1c laboratory tests market is expected to be driven by rise in diabetic population, increase in number of HBA1c laboratory tests, and technological advancements
· According to World Health Organization and International Diabetes Federation statistics, around 422 million people were suffering from diabetes in 2014. The global prevalence of diabetes has increased from 4.7% in 1980 to 8.5% in 2014.
· Large number of employers across the world have introduced wellness programs, which ensure routine medical tests for employees in order to maintain the overall productivity and resource efficiency. These initiatives, wherein an employee’s diagnostic tests and sometimes, even treatments are sponsored have increased the testing volume of clinical laboratories significantly, thereby driving the market revenue. Moreover, such wellness programs play an important role in restoring the overall productivity in case of infectious diseases, which tend to affect a large number of people simultaneously.
· In April 2017, Quest Diagnostics Health & Wellness collaborated with the American Diabetes Association in the fight against diabetes. Quest Diagnostics Health & Wellness donated US$ 20,000 to the American Diabetes Association for every employee biometric wellness screening.
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North America to Hold Major Share of Global HBA1c Laboratory Tests Market
· North America is projected to account for a prominent share of the global market during the forecast period. Increase in awareness about these tests, high rate of adoption of HbA1c tests, owing to increased physicians prescriptions, and technological advancements in the U.S. are expected to fuel the growth of HBA1c laboratory tests market in the region.
· Favorable reimbursement policies, increase in the number of laboratories for hemoglobin A1c testing, growth of diabetes among the geriatric population, and rise in funding by governments are anticipated to propel the HBA1c laboratory tests market during the forecast period
· Increase in the number of patients with diabetes visiting hospitals and clinics and focus of new players on partnerships with laboratories will propel the HBA1c laboratory tests market in the U.S.
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Key Players Operating in Global Market
Major players operating in the global HBA1c laboratory tests market are:
· Abbott Laboratories
· Tosoh Biosciences
· Alere Inc.
· Arkray
· Bio-Rad Laboratories
· Trinity Biotech
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