Glycated albumin assay is a blood test used to monitor glycated proteins in patients with diabetes and prediabetes. It measures the level of glycated albumin, or albumin that is bound to glucose in the bloodstream. Elevated glycated albumin levels indicate poor glycemic control and higher risk of diabetes complications. The test is useful for optimizing diabetes therapy and management.

The global Glycated Albumin Assay Market is estimated to be valued at US$ 571.0 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers for the growth of the glycated albumin assay market is the rising prevalence of diabetes globally. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide, and the number is projected to rise to 643 million by 2030 and 783 million by 2045. Diabetes management relies heavily on frequent monitoring of glucose levels and glycemic control. Glycated albumin assay serves as an alternative tool to HbA1c for diabetes monitoring and management. Its growing adoption among healthcare professionals is expected to boost the market during the forecast period. Additionally, ongoing research activities to develop improved assay kits and techniques will also contribute to market growth between 2023 and 2030.

SWOT Analysis
Strength: Glycated albumin assay has several advantages over HbA1c testing for diabetes management. It provides a short-term indication of glycemic control compared to HbA1c which reflects glucose levels over past 2-3 months. Glycated albumin levels are less affected by factors like blood transfusions and hematocrit levels. Additionally, glycated albumin assay kit availability from major companies has improved test accessibility.
Weakness: Glycated albumin testing has relatively higher costs than HbA1c testing. There is also limited awareness among physicians and patients about its clinical utility compared to the well-established HbA1c test. Collection and storage of blood samples needed for glycated albumin assay requires careful handling and processing within short time to avoid GA degradation influencing results.
Opportunity: Growing geriatric population suffering from diabetes worldwide presents a sizable patient base demanding improved glucose monitoring options. This offers scope to position glycated albumin assay as an effective complementary test to HbA1c. Increasing focus on personalized diabetes management also creates scope to educate healthcare providers and patients about the clinical advantages of glycated albumin testing.
Threats: Longstanding clinical guidelines and reimbursement policies favoring HbA1C testing pose challenges in market adoption of glycated albumin assay. Significant R&D investments are required by manufacturers for demonstrating superior clinical utility and cost-effectiveness over existing standard of care. Economic slowdowns can negatively impact sales growth of new diagnostic tests.

Key Takeaways

The global Glycated Albumin Assay Market Demand is expected to witness high growth over the forecast period supported by the rising diabetes prevalence globally. The global glycated albumin Assay Market is estimated to be valued at US$ 571.0 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.

North America currently dominates the market owing to the presence of major players and favorable reimbursement policies for new diabetes diagnostic technologies. Increasing healthcare expenditure and government initiatives in countries like China and India are fueling market growth in Asia Pacific which is emerging as the fastest growing regional market for glycated albumin assay.

Key players operating in the glycated albumin assay market are Asahi Kasei Pharma Corporation, Weldon Biotech Inc., Abbexa Ltd., Laboratory Corporation of America, EFK Diagnostics, Elabscience Biotechnology Inc., Abbot, Diazyme Laboratories Inc., Abnova Corporation, BSBE, Maccura Biotechnology Co.,Ltd., LifeSpan BioSciences Inc., Biomatik, Geno Technology Inc., AMS Biotechnology (Europe) Limited, Epinex Diagnostics Inc., DxGen Corp. Major companies are focused on new product launches and geographic expansions to consolidate their market shares.

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