Glycated Albumin Assay MarketSize and Trends

Global glycated albumin assay market is estimated to be valued at US$ 571.0 million in 2023 and is expected to exhibit a CAGR of 8.07% during the forecast period (2023-2030).

Figure 1.Global Glycated Albumin Assay Market Share (%), by Product Type, 2023

Global Glycated Albumin Assay Market- Driver

Increasing research and development activity by key players in the market

The glycated albumin assay is used in research and development for the diagnosis of diabetes. Thus, increasing research related to glycated albumin assay, by key players in the market is expected to drive the market growth over the forecast period. For instance, in June 2022, Frontiers Media, which is an open source scientific journal, published an article stating the use of glycated albumin to define partial remission in type 1 diabetes.

Increasing prevalence of diabetes

The glycated albumin assay technology is used for the diagnosis of diabetes, and thus, the increasing prevalence of diabetes is expected to drive the market growth over the forecast period. For instance, in October 2021, a report published on National Center for Biotechnology Information (NCBI), stated that the prevalence of diabetes in India has risen from 7.1% in 2009 to 8.9% in 2019.

Figure 2. Global Glycated Albumin Assay Market Share (%), by Region, 2023

Global Glycated Albumin Assay Market- Regional Analysis

Among region, North America is expected to dominate the market over the forecast period. This is attributed to increasing adoption of inorganic growth strategies, such as company acquisitions by key players in the region to expand their product portfolio. This is expected to drive the market growth over the forecast period. For instance, in July , LifeSpan BioSciences, a leading provider of antibodies and life science research reagents announced its acquisition of Everest Biotech, certified experts in antigen affinity purified goat polyclonal antibodies which will help LifeSpan BioSciences to develop new technologies for glycated albumin assay.

European region is expected to hold the second largest market share over the forecast period, owing to increasing prevalence of chronic kidney diseases in this region, which can use glycated albumin for the diagnosis of kidney diseases, which is expected to drive the market growth over the forecast period. For instance, in February 2022, European parliament stated that in Europe, 100 million people suffer from chronic kidney diseases, and predictions suggest that it will become the fifth leading cause of death globally by 2040.

Global Glycated Albumin Assay Market- Market Trends

Increasing research and development activity by key players in the market

Increasing prevalence of diabetes

Global Glycated Albumin Assay Market Analysis by Region

Among region, North America is expected to dominate the market over the forecast period. This is attributed to increasing adoption of inorganic growth strategies, such as company acquisitions by key players in the region to expand their product portfolio. This is expected to drive the market growth over the forecast period. For instance, in July, LifeSpan BioSciences, a leading provider of antibodies and life science research reagents announced its acquisition of Everest Biotech, certified experts in antigen affinity purified goat polyclonal antibodies which will help LifeSpan BioSciences to develop new technologies for glycated albumin assay.

European region is expected to hold the second largest market share over the forecast period, owing to increasing prevalence of chronic kidney diseases in this region, which can use glycated albumin for the diagnosis of kidney diseases, which is expected to drive the market growth over the forecast period. For instance, in February 2022, European parliament stated that in Europe, 100 million people suffer from chronic kidney diseases, and predictions suggest that it will become the fifth leading cause of death globally by 2040.

Glycated Albumin Assay Market Report Snapshots