Global HbA1c testing device market could reach $1.86 billion in 5 years

Data from a recent report published by Transparency Market Research showed that the global market for Hb1Ac testing devices could reach a value of US $1.86 billion by 2019.

The blood glucose testing devices market was valued at US $0.94 billion in 2012; the projected growth demonstrates a compound annual growth rate of 10.3% from 2013 to 2019.

North America dominated the hemoglobin HbA1c testing devices market in 2012, and the report slates North America to remain in the lead through 2019. The Asian-Pacific market is predicted to grow at a higher compound annual growth rate of 12.2% from 2013 to 2019, “due to increasing awareness about accuracy and efficacy of HbA1c testing,” according to the report.

India and China have the highest percent of population with diabetes, and rates of diabetes diagnosis are rising in these countries. Demand in developing nations is sure to rise in the coming years, according to a press release from Transparency Market Research (TMR).

The global HbA1c testing devices market is currently dominated by ion-exchange HPLC testing, the success of which TMR attributes to its high accuracy and reliability. The boronate affinity chromatography technology market is projected to grow at a compound annual rate of 11.9% due to its superior accuracy among all techniques and quick results, the report said.

For more information, read the full report from Transparency Market Research.