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Glycohemoglobin Analyzer Market Report

RA08360

Glycohemoglobin Analyzer Market by Type (Bench Top and Portable), Distribution (Hospitals, Clinics, Laboratories, and Residential), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

RA08360

Pages: NA

Mar 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

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Impact of covid-19 on Glycohemoglobin Analyzer Market

The global glycohemoglobin analyzer market is growing at a substantial rate. Glycohemoglobin analyzer is a tool used to monitor sugar levels in the blood sample of an individual.

Global Glycohemoglobin Analyzer Market

The global glycohemoglobin analyzer market is expected to grow at a significant pace in the coming years due to the increasing number of people suffering from diabetes, globally. Millions of people across the globe are living with diabetes. An increased blood glucose level can cause serious health-related problems including heart attack, stroke, and kidney failure, among others. Diabetic people need to keep their blood glucose level under control to avoid any health-related complications. Therefore, glycohemoglobin analyzers prove to help monitor diabetes. 

The rising economic power in some regions have boosted healthcare services including usage of glycohemoglobin analyzers for diabetes treatment. Such developments have escalated the demand for glycohemoglobin analyzers and its tools.

Increasing prevalence of diabetes, globally is expected to fuel the growth for glycohemoglobin analyzer market

The number of people suffering from diabetes is increasing at a significant pace due to genetic inherence and environmental factors.

Due to the changing lifestyle, the number of people suffering from diabetes is increasing at an exponential pace, globally. For instance, according to the International Diabetes Federation (IDF), in 2019, around 463 million people, aged around 20–79 years were living with diabetes, worldwide.

People have started giving more importance to their health status due to increasing awareness about related health complications such as heart attack, strokes, and kidney failure. For this, they are updating themselves about the current healthcare technology in the market. This is significantly impacting the market of glycohemoglobin analyzers and the market is estimated to increase in the coming years.

The last year, i.e. 2020, had a great impact on the glycohemoglobin analyzer market. Due to the COVID-19 pandemic, people have been restricted from visiting hospitals and clinics for their regular glucose level checkups. This has also increased the demand for portable glycohemoglobin analyzer which can be easily used by patients from the comfort of their homes.

Stringent reimbursement policies and high cost, and poor reach & supply of glycohemoglobin analyzers are expected to restrain the growth of market

China and India are the worst affected by diabetes. The lack of knowledge of device handling along with poor penetration of diabetic care devices is expected to hinder the growth of the market in the foreseeable future.

Additionally, owing to the lack of awareness campaigns related to device handling, most patients prefer tablets over regular injectable due to fear of injury and infection. Moreover, in China and India, most of the patients are unable to bear the expenses for test, which is projected to hinder the market growth in the region.

Moreover, in some parts of North America and Europe, there is reimbursement limit on the patient for testing by glycohemoglobin analyzers multiple times. If the company’s manufacturing glycohemoglobin analyzers market focus more on the analyzer’s accuracy, precision, usability, cost effectiveness and reach, the market is envisioned to gain profit in the near future.

Increasing number of end users and market demands are creating various opportunities for glycohemoglobin analyzer market

An increase in the application of the glycohemoglobin analyzers has resulted in the expansion of the market. Companies are extensively working on expanding the diagnostics products and increasing investments in R&D to cater to the needs of the healthcare market and the users.

The number of diabetic patients in the U.S have been on a rise because of more dependency on packed and junk food, lack of sleep and exercise, and other factors. These dynamics have created opportunities for the companies to develop analyzers that can detect glucose level in the blood in a short time.

Global Glycohemoglobin Analyzer Market, by Type:

It is expected that portable devices will be preferred in the global glycohemoglobin analyzer market in next few years

In terms of types, the global glycohemoglobin analyzer market is bifurcated into Bench Top and Portable. Among these, the benchtop type is widely used in hospitals, clinics, and laboratories. However, portable devices are expected to gain preference among the consumers owing to ease of handle and interpreting the results.

As the market for glycohemoglobin is expanding, the requirements and innovations are also acquiring pace.

Global Glycohemoglobin Analyzer Market, by Distribution:

Increase in the number of end users has also increased the application centers for glycohemoglobin analyzer

As the number of users have increased, so have the application centers. Earlier, glycohemoglobin analyzers were used mainly in hospitals. Now, different clinics and laboratories have also started using these analyzers. Due to the availability of portable analyzers, patients can also use them at their residence.

It is estimated that the use of glycohemoglobin analyzers in hospitals will increase because of increasing hospitalization rate due to increasing  number of diabetic patients.

Global Glycohemoglobin Analyzer Market, Regional Insights:

Globally, glycohemoglobin analyzers market in China and India is expected to grow at a promising CAGR in the forecast period

By region, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America covers the market analysis for the U.S., Canada, and Mexico. Europe provides market analysis for Germany, the UK, France, Spain, Italy, and the Rest of Europe. Asia-Pacific market cover market analysis for China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific. LAMEA market cover analysis for Latin America, Middle East, and Africa.

North America is expected to hold a leading position in the glycohemoglobin analyzers market in the forecast time duration.

Factors promoting the growth of the market in the U.S. are increase in diabetic cases and increased healthcare facilities for people. The government is also uplifting the technological advancements which will further increase the profit margins in America.

The glycohemoglobin analyzer market in Asia-Pacific region is expected to grow at a high pace in the coming years due to high incidence of diabetes in both the countries.

Key Distributers in the Global Glycohemoglobin Analyzer Market

Some leading manufacturers in the global glycohemoglobin analyzer market are Abbott, Siemens Healthcare Private Limited, Trinity Biotech Ireland, PTS Diagnostics, Bio-Rad Laboratories, Tosoh Corporation, Convergent Technologies GmbH & Co. KG, Convergent Technologies GmbH & Co. KG and Bayer AG.

Aspect

Particulars

  Historical Market Estimations

  2017-2019

  Base Year for Market Estimation

  2020

  Forecast timeline for Market Projection

  2020-2027

  Geographical Scope

 North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Bench Top
  • Portable

  Segmentation by Distribution

  • Hospitals
  • Clinics
  • Laboratories
  • Residential

  Key Regions Covered

  North America, Europe, Asia-Pacific, and LAMEA

  Key Companies Profiled

  • Abbott
  • Siemens Healthcare Private Limited
  • Trinity Biotech Ireland
  • PTS Diagnostics
  • Bio-Rad Laboratories
  • Tosoh Corporation
  • Convergent Technologies GmbH & Co. KG
  • Bayer AG

Frequently Asked Questions
 

A. North America has been leading and promises to hold its position in glycohemoglobin market in the forecast time duration. Factors promoting this growth in the U.S. are increase in diabetic cases and increased healthcare facilities for the people.

A. Certain factors such as stringent reimbursement rules, high cost, and poor reach & supply of glycohemoglobin analyzers are restraining the market growth in the forecast period.

A. Due to the changing lifestyle and increased diabetes cases, people are giving more importance to their health status and therefore, updating themselves about the current healthcare technology in the market. This is significantly impacting the market of glycohemoglobin market analyzer.

A. Due to the COVID-19 pandemic, people have been restricted from visiting hospitals and clinics for their regular glucose level checkups. This has also increased the demand for portable glycohemoglobin analyzer which can be easily used by the patients at home.

     

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