POC HbA1c Testing Global Market Opportunities And Strategies To 2032

This report describes and explains the POC HbA1c testing market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report evaluates the market across each region and for the major economies within each region.

The global POC HbA1c testing market reached a value of nearly $760.3 million in 2022, having increased at a compound annual growth rate (CAGR) of 7.6% since 2017. The market is expected to grow from $760.3 million in 2022 to $1,258.1 million in 2027 at a rate of 10.6%. The market is then expected to grow at a CAGR of 10.5% from 2027 and reach $2,070.8 million in 2032.

Growth in the historic period resulted from strong economic growth in emerging markets, an increase in diabetes prevalence, a rise in COVID-19 cases and an increase in disposable income. Factors that negatively affected growth in the historic period were a lack of awareness, development of alternative blood monitoring methods and stringent regulatory approval processes for medical devices.

Going forward, rising government support, an increasing prevalence of diabetes- type II diabetes, the easy accessibility of POC tests and the faster availability of results than conventional laboratory testing procedures will drive the market. Factors that could hinder the growth of the POC HbA1c testing market in the future include a rise in interest rates, the inability of testing devices to assess all blood types and the Russia-Ukraine war impact.

The POC HbA1c testing market is segmented by type of product into instruments and consumables. The instruments was the largest segment of the POC HbA1c testing market by type of product, accounting for $484.0 million or 63.7% of the total market in 2022. It is expected to be the fastest-growing segment going forward at a CAGR of 10.9%.

The POC HbA1c testing market is segmented by technology into ion-exchange HPLC, enzymatic assay, affinity binding chromatography, immunoassay and other technologies. The immunoassay market was the largest segment of the POC HbA1c testing market by technology, accounting for $348.1 million or 45.8% of the total market in 2022. The ion-exchange HPLC market is expected to be the fastest-growing segment going forward at a CAGR of 11.0%.

The POC HbA1c testing market is segmented by end user into hospitals, physician office/outpatient center, home care and other end users. The hospitals was the largest segment of the POC HbA1c testing market by end user, accounting for $329.3 million or 43.3% of the total market in 2022. The physician office/outpatient center market is expected to be the fastest-growing segment going forward at a CAGR of 10.8%.

North America was the largest region in the POC HbA1c testing market, accounting for 36.6% of the global market in 2022. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the POC HbA1c testing market will be North America and the Western Europe, where growth will be at CAGRs of 11.9% and 10.8% respectively from 2022-2027.

The global POC HbA1c testing market is highly concentrated, with a small number of large players. The top ten competitors in the market made up to 87.3% of the total market in 2021. F. Hoffmann-La Roche Ltd was the largest competitor with 19.9% share of the market, followed by Siemens Healthineers AG with 19.3%, Bio-Rad Laboratories, Inc with 13.7%, Menarini Group with 12.2%, Danaher Corporation with 8.9%, Tosoh with 5.0%, ARKRAY Inc with 3.0%, Abbott Laboratories with 2.4%, Trinity Biotech plc with 1.7%, and PTS Diagnostics with 1.0%.

The top opportunities in the POC HbA1c testing market by type of product will arise in the instruments market, which will gain $326.2 million of global annual sales by 2027. The top opportunities in the POC HbA1c testing market by technology will arise in the immunoassay market, which will gain $220.2 million of global annual sales by 2027. The top opportunities in the POC HbA1c testing market by end user will arise in the hospitals market, which will gain $210.8 million of global annual sales by 2027. The POC HbA1c testing market size will gain the most in the USA at $179.8 million.

Market-trend-based strategies for the POC HbA1c testing market include focus on HbA1c microfluidic immunofluorescence test, increasing use of home collection hba1c testing kits, focus on HbA1c test using capillary electrophoresis technology and advances in testing technologies.

Player-adopted strategies in the POC HbA1c testing industry include enhancing operational capabilities through the launch of innovative solutions, strengthening business operations through the launch of new solutions, strengthening operational capabilities through upgrading product portfolio, enhancing business capabilities through strategic acquisitions and strengthening business operations through receiving regulatory approvals.

To take advantage of the opportunities, the publisher recommends the POC HbA1c testing companies to focus on HbA1c microfluidic immunofluorescence test, focus on home collection HbA1c testing kits, focus on HbA1c test using capillary electrophoresis technology, focus on advances in testing technologies, expand in emerging markets, continue to focus on developed markets, focus on competitive pricing, continue to use B2B promotions, participate in precision medicine seminars and conferences, target hospitals and pharmacies to spread awareness and continue to target fast-growing end-users.