According to the report analysis, ‘POC HbA1C Testing Global Market Opportunities And Strategies To 2030’ states that in the POC HbA1C testing global market there are numerous companies which recently actively for leading the highest market growth and registering the handsome value of market share across the globe during the coming years while spreading the awareness related to the applications of such, decreasing the linked prices, employing the young work force, analyzing and studying the strategies and policies of the government as well as competitors, delivering the better consumer satisfaction, enhancing the applications of such, and improving the specifications of the production technologies includes Bio-Rad Laboratories, Inc.; Siemens Healthineers AG; Menarini Group; F. Hoffmann-La Roche Ltd.; ARKRAY Inc. and several others.
The international POC HbA1C testing market stretched a value of approximately USD 483.8 million in 2019, having amplified at a compound annual growth rate (CAGR) of 6.37% since 2015, and is projected to grow at a CAGR of 8.0% to approximately USD 658.6 million by 2023. In addition, growth in the historic period resulted from increase in the diabetes prevalence, and increase in disposable income. Factors that destructively affected growth in the historic period were deficiency of awareness, and development of alternative blood glucose monitoring approaches.
Going forward, auspicious government initiatives, shifting lifestyles, and rise in diabetic population will influence growth. Influences that could encumber the growth of the POC HbA1C testing market throughout the future embrace powerlessness of testing devices to evaluate all blood categories. The POC HbA1C testing market is classified by product into consumables, and instruments. The consumables market was the principal segment of the POC HbA1C testing market segmented by product, dominating for USD 316.31 million or 65.4% of the total in 2019 and is predicted to be the fastest-growing division going forward at a CAGR of 8.4%.
The POC HbA1C testing market is categorized by technology into turbid metric inhibition immunoassay, affinity binding chromatography, ion-exchange HPLC, enzymatic assay, and numerous others. The turbid metric inhibition immunoassay market was the prime division of the POC HbA1C testing market, dominating for USD 222.01 million or 45.9% of the total during 2019 and affinity requisite chromatography market is probable to be the fastest-growing division going forward at a CAGR of 11.1%.
The POC HbA1C testing market is divided by end user into physician office/outpatient center, home care, hospitals, and several others. The physician office/outpatient center market was the principal segment of the POC HbA1C testing market separated by end user, governing for USD 270.96 million or 56.0% of the entire during 2019 and is projected to be the fastest-growing sector going forward at a CAGR of 8.4%.
In addition, the North America was the greatest region in the POC HbA1C testing market, dominating for 41.5% of the global market during 2019. It was shadowed by Asia-Pacific, Western Europe and then the other regions. Going forward, the remotest increasing regions in the POC HbA1C testing market will be the Eastern Europe and Asia Pacific, where growth will be at CAGRs of 12.4% and 10.4% consistently. These will be shadowed by Africa and Middle East, where the markets are projected to grow at CAGRs of 10.3% and 9.1% respectively. Therefore, in the near years, it is predicted that the market of POC HbA1C testing will increase around the globe more actively over the inflowing duration.
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Ankur Gupta, Head Marketing & Communications