POC HbA1C Testing Global Market Opportunities and Strategies to 2030

This report describes and evaluates the global POC HbA1C testing market. It covers two five-year periods, 2015 to 2019, termed the historic period, and 2019 through 2023, 2025F, and 2030F the forecast period.

The global POC HbA1C testing market reached a value of nearly $483.8 million in 2019, having grown at a compound annual growth rate (CAGR) of 6.37% since 2015, and is expected to grow at a CAGR of 8.0% to nearly $658.6 million by 2023.

Growth in the historic period resulted from rise in diabetes prevalence, and increase in disposable income. Factors that negatively affected growth in the historic period were lack of awareness, and development of alternative blood glucose monitoring methods.

Going forward, favorable government initiatives, changing lifestyles, and rise in diabetic population will drive growth. Factors that could hinder the growth of the POC HbA1C testing market in the future include inability of testing devices to assess all blood types.

The POC HbA1C testing market is segmented by product into consumables, and instruments. The consumables market was the largest segment of the POC HbA1C testing market segmented by product, accounting for $316.31 million or 65.4% of the total in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 8.4%.

The POC HbA1C testing market is segmented by technology into turbidimetric inhibition immunoassay, affinity binding chromatography, ion-exchange HPLC, enzymatic assay, and others. The turbidimetric inhibition immunoassay market was the largest segment of the POC HbA1C testing market, accounting for $222.01 million or 45.9% of the total in 2019 and affinity binding chromatography market is expected to be the fastest-growing segment going forward at a CAGR of 11.1%.

The POC HbA1C testing market is segmented by end user into physician office/outpatient center, home care, hospitals, and others. The physician office/outpatient center market was the largest segment of the POC HbA1C testing market segmented by end user, accounting for $270.96 million or 56.0% of the total in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 8.4%.

North America was the largest region in the POC HbA1C testing market, accounting for 41.5% of the global market in 2019. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest growing regions in the POC HbA1C testing market will be Eastern Europe and Asia Pacific, where growth will be at CAGRs of 12.4% and 10.4% respectively. These will be followed by Africa and Middle East, where the markets are expected to grow at CAGRs of 10.3% and 9.1% respectively.
The POC HbA1C testing market is highly concentrated, with a small number of players dominating the market. The top ten competitors in the market made up to 72.1% of the total market in 2019. Major players in the market include Bio-Rad Laboratories, Inc., Siemens Healthineers AG, Menarini Group, F. Hoffmann-La Roche Ltd, Abbott Laboratories, Tosoh Bioscience, Danaher corporation Trinity Biotech plc, EKF Diagnostics Holdings plc, and Others.

The top opportunities in the POC HbA1C testing market segmented by product type will arise in the consumables segment which will gain $436.75 million of global annual sales by 2023. The top opportunities in the POC HbA1C testing market segmented by technology will arise in the affinity binding chromatography segment which will gain $245.37 million of global annual sales by 2023. The top opportunities in the POC HbA1C testing market segmented by end user will arise in the physician office/outpatient center segment which will gain $374.28 million of global annual sales by 2023.

The POC HbA1C testing market size will gain the most in USA at $51.56 million. Market-trend-based strategies for the POC HbA1C testing market include developing and deploying technologies to capture and analyze data from the medical devices, M&A growth strategies to expand their customer base and geographic presence, online marketing strategies to expand their customer base and geographic presence. Player-adopted strategies in the POC HbA1C testing industry include expanding the diagnostics product portfolio and increase investments in R&D, expanding its business through collaborations, strengthening of its research and development network capability globally.

Diabetic patients are considered to have higher risk of suffering complications of COVID-19, therefore their usual treatment plans may change as communities and health services look to protect sufferers and follow social distancing measures and keep them home as much as possible. According to the World Health Organization (WHO), the most at-risk populations from corona virus are older people and individuals with pre-existing medical conditions such as high blood pressure, diabetes, heart disease, lung disease, and cancer. People with these conditions seem to develop more serious illness when they contract the virus. Both diabetes type 1 and 2 can increase risk of contraction. According to current Diabetes review, type 2 diabetes can increase the incidence of infectious diseases. According to other studies, Diabetes type 1 also increases risks for morbidity and mortality. In addition to that, according to the American Diabetes Association, in China, most cases occurred so far, people with diabetes had much higher rates of serious complications and death than people without diabetes. Therefore, POC HbA1C testing of diabetic patients is necessary due to COVID-19, so that they can seek to maintain and manage their condition at home, whilst limiting their potential exposure to the virus