The global hemoglobin A1c (HbA1c) testing market is poised for significant transformation and rapid growth, according to the Hemoglobin A1c (HbA1c) Testing Global Market Report 2024 by The Business Research Company, which presents market data spanning from 2019 to 2034.
As of 2024, the global HbA1c testing market is valued at $1,863.41 million, having grown at a compound annual growth rate (CAGR) of 5.73% since 2019. The market is projected to reach $2,896.70 million by 2029 with a robust CAGR of 9.22%, and further expand to $4,485.00 million by 2034, reflecting a 9.14% CAGR. These figures underscore the rising global demand for effective diabetes management and cutting-edge diagnostic solutions.
Market Segmentation Insights
The report breaks down the market by type, product, technology, and region, offering in-depth insights into growth trends:
- Type: Point-of-care (PoC) testing dominates, representing 78.15% of the market in 2024. This segment is projected to grow at a 9.62% CAGR by 2029.
- Product Type: Reagents and kits lead with 61.08% market share, while software and services are forecasted to be the fastest-growing segment at an 11.24% CAGR from 2024 to 2029.
- Technology: Immunoassays accounted for 36.42% of the market in 2024. Meanwhile, high-performance liquid chromatography (HPLC) is expected to grow rapidly, at a 12.61% CAGR in the coming years.
Regional Market Outlook
- North America currently leads with 42.60% of global market share in 2024.
- However, Asia-Pacific and South America are emerging as the fastest-growing regions, with forecasted CAGRs of 10.80% and 10.63%, respectively, through 2029.
Innovation Spotlight: Qvin’s Q-Pad
Innovation continues to reshape the HbA1c testing landscape. In January 2024, Qvin, a U.S.-based biotech firm, received FDA approval for its Q-Pad A1c Test System—a groundbreaking diagnostic tool that uses menstrual blood for HbA1c testing. This innovation enhances point-of-care testing by offering a more convenient and less invasive approach with faster results.
Key Market Opportunities and Strategic Insights
- PoC Testing: Expected to generate $848.40 million in annual global sales by 2029.
- Reagents and Kits: Forecasted to grow by $661.73 million, driven by the increasing global diabetes burden and the push toward personalized medicine.
- Top Players: Industry leaders such as Danaher Corporation, F. Hoffmann-La Roche Ltd., and Siemens Healthineers AG are leveraging strategic acquisitions, product innovation, and partnerships to expand their market presence.
Market Drivers and Challenges
- Growth Drivers:
- Rising healthcare expenditures in emerging economies
- Rapid urbanization
- Strong economic development across Asia, Latin America, and Africa
- Key Challenges:
- High costs of diagnostic devices
- Shortage of trained professionals
- Limited awareness of diabetes testing in underserved regions
What the Report Offers
This report is a comprehensive resource for healthcare and diagnostics stakeholders, offering:
- Data-Driven Insights: Analysis of key drivers, restraints, and growth opportunities
- Competitive Intelligence: Profiles of leading market players and their strategies
- Forecasting to 2034: Long-term trends and projections to support strategic planning
- Innovation Case Studies: Examples like Qvin’s Q-Pad highlight cutting-edge solutions
Why It Matters
The global HbA1c testing market represents a dynamic and fast-growing space fueled by medical innovation, expanding healthcare infrastructure, and increasing awareness of chronic disease management. Investing in this space—whether through research, partnerships, or product development—positions stakeholders at the forefront of a $4.5 billion opportunity by 2034.
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About The Business Research Company
The Business Research Company is a global market intelligence firm specializing in company, market, and consumer research. With offices worldwide, the company has expert consultants across diverse industries including healthcare, manufacturing, financial services, chemicals, and technology. Follow them on LinkedIn, Twitter, Facebook, and YouTube for the latest insights.
