Global Glycated Albumin Assay Market, by Product Type (Human Glycated Albumin Assay and Animal Glycated Albumin Assay), by Application (Diagnostics (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes) and Research), by End User (Hospital, Diagnostic Centers, Research Centers, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key players in the market are focusing on adoption of inorganic growth strategies such as partnerships and collaborations, in order to strengthen their market presence in the global glycated albumin assay market which is expected to drive the market growth over the forecast period. For instance, in August 2022, Precision Diabetes, Inc., a bioscience company and DxGen Corp., which is a Point-Of-Care (POC) diagnostics company situated in U.S., announced that they have entered in an exclusive agreement in the U.S. to launch Epithod AutoDx, a fully-automatic point-of-care (POC) analyzer that measures a comprehensive profile of diabetes tests.
Global Glycated albumin assay market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
The COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown that was imposed in several countries such as India, China, Brazil, and others problems were faced with regards to the transportation of drugs from one place to another.
The COVID-19 had a positive impact on the global glycated albumin assay market, owing to its diagnostic application in the COVID-19-pandemic. For instance, in April 2022, a report published on MDPI, which is an open source scientific journal, described the use of glycated albumin assay to predict the progression of coronavirus disease from mild to severe disease in Korean patients with type 2 diabetes.
Global glycated albumin assay market: Key Developments
In September 2021, Boehringer Ingelheim, a German based company which is a pharmaceutical company, acquires Abexxa Biologics, a biopharmaceutical company, to further expand Boehringer Ingelheim’s research efforts in cancer immunology and novel immunotherapeutic approaches.
In December 2022, Labcorp, a leading global life sciences company, announced that it has begun operations at a new, larger anatomic pathology and histology (APH) laboratory in Los Angeles, U.S., expanding the company’s global central laboratory capabilities.
In December 2022, Asahi Kasei Pharma Corporation, which is a research-based, health care innovator company, announced that they have received the U.S. Food and Drug Administration (FDA) approval to manufacture and sell Cresemba Capsule 100 mg and Cresemba Intravenous Infusion 200 mg in Japan for treatment of the fungal infections of aspergillosis, mucormycosis, and cryptococcosis.
In June 2022, Asahi Kasei Pharma Corporation, which is a research-based, health care innovator company, announced that they have entered into an exclusive license agreement to develop and commercialize Alchemedicine company’s selective Endothelin A receptor antagonist (preclinical stage), which is a provider of drug discovery services intended to treat diseases with highly unmet medical needs.
The increasing product launches and company acquisitions by key market players is expected to create new opportunities for market and drive the global glycated albumin assay market during the forecast period.
Browse 32 Market Data Tables and 36 Figures spread through 208 Pages and in-depth TOC on “Global Glycated albumin assay market”- Forecast to 2030 by Product Type (Human Glycated Albumin Assay and Animal Glycated Albumin Assay), by Application (Diagnostics (Prediabetes, Type 1 Diabetes, and Type 2 Diabetes) and Research), by End User (Hospital, Diagnostic Centers, Research Centers, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)\
To know the latest trends and insights prevalent in this market, click the link below:
http://www.coherentmarketresearch.in/market-insight/glycated-albumin-assay-market-1915
Key Takeaways of the Global Glycated Albumin Assay Market:
- The global glycated albumin assay market is expected to exhibit a CAGR of 8.07% during the forecast period. Increasing adoption of inorganic growth strategies, such as acquisitions by key players in the market to expand product portfolio, is expected to drive the segment growth over the forecast period. For instance, September 2022, Abbott, one of the leading multinational pharmaceutical companies, completes the acquisition of St. Jude Medical, a developer, manufacturer and distributor of cardiovascular medical devices.
- Among product type, human glycated albumin assay segment is estimated to hold a dominant position in the global glycated albumin assay market over the forecast period, owing to increasing research and development activities by various national laboratories related to glycated albumin assay. For instance, in August 2022, an article published in MDPI, which is an open source scientific journal, stated the use of glycated albumin assay for the manufacturing of Point Of Care (POC) devices for early detection of diabetes mellitus in humans.
- Among region, North America is expected to be the dominant region in the global glycated albumin assay market, owing to increasing adoption of inorganic growth strategies, such as agreement by the key players in the market to expand the product portfolio and strengthen their market presence, which is expected to drive the segment growth over the forecast period. For instance, in November 2022, Hamilton, a global manufacturer of precision measurement devices and instruments, acquired BioFluidiX, a micro technology company.
- Major players operating in the global Glycated albumin assay market include Asahi Kasei Pharma Corporation, Weldon Biotech, Inc., Abbexa Ltd., Laboratory Corporation of America, Biocompare, EFK Diagnostics, Elabscience Biotechnology Inc., Abbott, Diazyme Laboratories, Inc., Abnova Corporation, BSBE, Maccura Biotechnology Co.,Ltd., Hamilton Company, LifeSpan BioSciences, Inc., Biomatik, Geno Technology Inc., AMS Biotechnology (Europe) Limited, Epinex Diagnostics Inc., DxGen Corp.
