Rising diabetic population is attributed to the growth of HbA1c testing devices market in Asia Pacific
Regional segmentation of HbA1c testing devices market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The increase in number of patient population in North America is fuelling the growth of HbA1c testing devices market. Furthermore, the factors like established healthcare infrastructure and adoption to the technologically advanced medical devices, are helping North America to dominate in the HbA1c testing devices market. According to recent data given by International Diabetes Federation, there are around 109 million people in China and 69 million people in India with diabetes. The large number of diabetic population, unmet health needs, and development in healthcare sector are fuelling the growth of HbA1c testing devices market in Asia Pacific.
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Product development is helping the organizations in HbA1c testing devices market to hold the top position
Key industry players operating the global HbA1c market includes Abbott Laboratories, Transasia Biomedicals limited, Alere Incorporated, Arkray Incorporated, Danaher Co., Bio-Rad Laboratories, Siemens Healthcare, F.Hoffmann-La Roche Limited, and Trinity Biotech Plc. The industry players are likely to get involved in product development for higher accuracy, reliable results, and quicker turnaround time for the analyzers. The factors like product development and approval of devices for diagnosis of diabetes are helping the organizations to hold the maximum share in the HbA1c testing devices market.
Increase in healthcare expenditure over diabetes management is owing to the growth of HbA1c testing devices market
Growing diabetes patient population globally is one of the important factor driving the growth HbA1c testing devices market. According to World Health Organization (WHO), the number of patients with diabetes has increased from 108 million in 1980 to 422 million in 2014. Around 5 million deaths were reported in 2015 due to diabetes and 2.2 million deaths were attributed to high blood glucose level. The data given by International Diabetes Federation showed the expenditure of 673 billion USD on diabetes in 2015. Additionally, rise prescription by physicians for HbA1c test is contributing to the growth of HbA1c testing devices market. Moreover, factors such as growing awareness about diabetes preventive care, rise in geriatric and obese population which are more prone to diabetes, upgrading technologies for management of diabetes are expected to fuel the growth of HbA1c testing devices market. However, some factors are likely to hamper the growth of HbA1c testing devices market, such as high cost of testing devices and limitations for the results of certain population, which include pregnant women, elder people, and non-Hispanic black. HbA1c testing devices market have opportunities in future, due to untapped market and rise in demand for medical tourism.
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