(Australia-NewsWire.Com, May 24, 2018 ) HbA1c may be a modified kind of an oxygen-carrying pigment situated in red blood cells mentioned as hemoglobin. Most of the hemoglobin is in HbA kind but a small low fraction transforms into HbA1 within the middle of their lifespans. Patients stricken by diabetes have an alarmingly high level of HbA1c in their body as its formation happens alone throughout a technique called glycosylation that involves the conversion of glucose into glycogen for storage purpose.
The Asia Pacific HbA1c Testing market is anticipated to grow at 12.67% CAGR from 2017 to 2022 and it is approximated that the Asia Pacific market was valued at USD 0.26 billion in 2017 and is predicted to achieve USD 0.48 billion by 2022. The emergence of the point of care and many modern and new devices to lower the value of diabetes testing is additionally expected to help the market growth.
Globally, USD 673 billion expenditure is spent on diabetes management that is around 11% of total healthcare expenditure. In 2015, around 5.0 million deaths occurred because of diabetes. The number of individuals suffering from diabetes is rising exponentially with every passing day because of poor dietary decisions plus lack of physical activities and high levels of stress. As a result, physicians are progressively prescribing HbA1c test to their patients that successively is predicted to drive the market revenue for HbA1c Testing. The trendy technologies for diabetes management and increase in awareness of preventive care are projected to fuel the enlargement of HbA1c testing device market.
With increasing home care service and demand for homecare HbA1c testing device, homecare section will exhibit very important growth among the forecast period. The Middle East region is anticipated to show the fastest enlargement over the forecast period of time. This might be propelled by an increase in the diabetic population because of urbanization and by expected technology launches. In addition, increasing doctor’s prescription pattern for HbA1c testing may well be a key factor in generating plenty of demand for the HbA1c testing device.
On the premise of geography, the HbA1c Testing market is divided into India, China, Japan, South Korea and Australia. As of 2017, China is predicted to indicate the foremost promising growth during this region. The Asia Pacific is projected to register the best rate of growth within the next few years because of the growing cases of diabetes. Moreover, low price of healthcare in Asia counties could be a key issue boosting medical tourism within the region that successively can aid the market growth.
Some of the key players operating in the market are like Transasia Biomedicals ltd., Abbott Laboratories, Alere, Inc., Arkray, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Siemens Healthcare and Trinity Biotech plc.
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