Global Glycated Albumin Assay Market to Surpass US$ 776.5 Million by 2027 - Coherent Market Insights
SEATTLE, March 23, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global glycated albumin assay market is estimated to be valued at US$ 428.1 Mn in 2019, and is expected to exhibit a CAGR of 7.7% during the forecast period (2019-2027).
Key Trends and Analysis of the Global Glycated Albumin Assay Market:
Rising availability of albumin assay developed from animal species such as rat, mouse, horse, rabbit, monkey, and other animals is expected to propel the segment growth over the forecast period. For instance, LifeSpan BioSciences, Inc., a U.S.-based company offers wide range of animal glycated albumin assay such as rat glycated albumin ELISA kit, sheep glycated albumin ELISA kit, monkey glycated albumin ELISA kit, and others for research use.
Increasing adoption of inorganic growth strategies such as partnerships and collaborations by key players are expected to drive growth of the global glycated albumin assay market. For instance, in July 2018, Asahi Kasei Corporation entered into distribution agreement with Stanbio Laboratory, L.P., a subsidiary of EKF Diagnostics Holdings plc. for marketing of Lucica GA-L, an in vitro diagnostic assay kit, in the U.S.
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Furthermore, increasing regulatory approvals for novel glycated albumin assay is expected to drive growth of the global glycated albumin assay market. For instance, in October 2017, Asahi Kasei Pharma, an in vitro diagnostics company, received the U.S. FDA approval for its Lucica Glycated Albumin-L test, a liquid, enzymatic test for glycated albumin (GA). Moreover, in November 2016, Diazyme Laboratories, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Direct HbA1c assay, which is developed for use in general clinical chemistry analyzers.
Among regions, Asia Pacific is expected to witness significant growth in the glycated albumin assay market over the forecast period, owing to increasing regulatory approval for glycated assays. For instance, in 2015, Taiwan Food and Drug Administration (TFDA) approved Lucica Glycated Albumin-L to sell and distribute the product in Taiwan market.
Key Market Takeaways:
- The global glycated albumin assay market is expected to exhibit a CAGR of 7.7% over the forecast period (2019-2027), owing to adoption of inorganic growth strategies such as partnerships and acquisitions by key players. For instance, in August 2016, GlycoMark, Inc. entered into partnership agreement with Diazyme Laboratories, to launch the first diabetes panel. The newly launched panel includes assays for measuring both intermediate-term and long-term glycated Serum Protein/GSP (albumin) and enzymatic HbA1c.
- Among product type, human glycated albumin assay segment is expected to witness significant growth in the glycated albumin assay market over the forecast period, owing to increasing product approvals by regulatory authorities and product promotions by market players. For instance, in August 2018, EKF Diagnostics, an in vitro diagnostics company, introduced Stanbio Chemistry Glycated Albumin (GA) assay kit ?Lucica GA - glycated albumin assay kit and DiaSpect hemoglobin point of care analyzer, at the AACC 2018 Clinical Lab Expo, held at Chicago
Major players operating in the global glycated albumin assay market include?
Asahi Kasei Corporation, Diazyme Laboratories, Inc., LifeSpan BioSciences, Inc., Biomatik Corporation, Abbexa Ltd., Geno Technology, Inc., DRG International, Inc., AMS Biotechnology (Europe) Limited, Abnova Corporation, Ethos Biosciences, Inc., Epinex Diagnostics Inc., DxGen Corp., and PathShodh Healthcare Private Limited.
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Market Segmentations:
- Global Glycated Albumin Assay Market, By Product Type:
- Human Glycated Albumin Assay
- Animal Glycated Albumin Assay
- Global Glycated Albumin Assay Market, By Application:
- Diagnostics
- Prediabetes
- Type 1 Diabetes
- Type 2 Diabetes
- Research
- Global Glycated Albumin Assay Market, By End User:
- Hospital
- Diagnostic Centers
- Research Centers
- Others
- Global Glycated Albumin Assay Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- Asia Pacific
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
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