Hemoglobin Testing Market | Growing Incidence of Diabetes Worldwide to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 16, 2020--
The global hemoglobin testing market size is poised to grow by USD 612.82 million during 2020-2024, progressing at a CAGR of almost 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Hemoglobin Testing Market 2020-2024 (Graphic: Business Wire)
Globally, the prevalence of diabetes has significantly increased over the decades. This can be attributed to sedentary lifestyles, obesity, and lack of physical activity. The prevalence of diabetes is growing significantly in countries across the Middle East such as Iran, where around 24% of the people aged over 40 have diabetes. In the UAE, more than 16% of the total population aged 20-79 years had diabetes in 2019. The rising prevalence of diabetes has increased the demand for effective and advanced hemoglobin testing devices to monitor glucose levels, thereby driving the growth of the market.
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- The major hemoglobin testing market growth came from the healthcare centers segment in 2019. This is due to the increasing number of hospitals in developing countries and the growing trend of medical tourism.
- North America was the largest market for hemoglobin testing in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the increasing prevalence of obesity and diabetes in the region.
- The global hemoglobin testing market is fragmented. Abbott Laboratories, ACON Laboratories Inc., Bayer AG, Bio-Rad Laboratories Inc., Danaher Corp., Diazyme Laboratories Inc., EKF Diagnostics Holdings Plc, F. Hoffmann-La Roche Ltd., Siemens AG, and Thermo Fisher Scientific Inc. are some of the major market participants. To help clients improve their market position, this hemoglobin testing market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global hemoglobin testing market 2020-2024 is expected to have neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/hemoglobin-testing-market-industry-analysis
Growing preference for home care settings will be a Key Market Trend
Over the years, the demand for homecare blood testing devices has increased across the globe. This is because home care testing devices provide faster results and help patients better manage their disease. They also reduce the overall investigation time and the number of visits to hospitals outpatient department and diagnostic laboratories. This has encouraged vendors in the market to offer a wide range of diagnostics devices that are ideal for home use. For instance, PTS Diagnostics offers A1CNow SELF CHECK. The device is affordable, easy to use, portable, and requires only a small sample of blood. It provides fast and accurate HbA1cresults at home. It also measures the average 2-3-month level of blood glucose and displays the results in five minutes. Thus, the increasing preference for home care settings is expected to have a positive impact on the growth of the global hemoglobin testing market during the forecast period.
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Hemoglobin Testing Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist hemoglobin testing market growth during the next five years
- Estimation of the hemoglobin testing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the hemoglobin testing market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of hemoglobin testing market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Reagent and consumables
Market Segmentation by Technology
- Market segments
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Healthcare centers - Market size and forecast 2019-2024
- Diagnostic laboratories - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Abbott Laboratories
- ACON Laboratories Inc.
- Bayer AG
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- Diazyme Laboratories Inc.
- EKF Diagnostics Holdings Plc
- F. Hoffmann-La Roche Ltd.
- Siemens AG
- Thermo Fisher Scientific Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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SOURCE: Technavio Research
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PUB: 10/16/2020 12:30 PM/DISC: 10/16/2020 12:30 PM