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Home>POC HbA1C Testing Market - Drivers and Forecasts by Technavio

POC HbA1C Testing Market - Drivers and Forecasts by Technavio

POC HbA1C Testing Market - Drivers and Forecasts by Technavio

10/03/2017

POC HbA1C Testing Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global POC HbA1C testing market to grow at a CAGR of almost 9% during the forecast period, according to their latest report.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171003005999/en/

Technavio has published a new report on the global POC HbA1C testing market from 2017-2021. (Graphic ...

Technavio has published a new report on the global POC HbA1C testing market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global POC HbA1C testing market for 2017-2021. The market is segmented based on product (consumables and instruments) and geography (the Americas, EMEA, and APAC).

Numerous factors drive the global POC HbA1c testing market. The key driver in this market is unhealthy lifestyles of people, which increases the prevalence of diabetes and obesity. Lifestyle habits such as the high consumption of alcohol and smoking and health conditions such as hypertension and diabetes are some of the reasons for the growth of the market globally. Other key drivers of the market include easy patient accessibility to POC tests and faster availability of results than conventional laboratory testing procedures.

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Technavio healthcare and life science research analysts highlight the following three factors that are contributing to the growth of the global POC HbA1C testing market:

  • Increasing equipment rental agreements
  • Rise in diabetic prevalence
  • High adoption rate of molecular POC testing

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Increasing equipment rental agreements

The rise of online marketing has helped end-users seeking for time-efficient tests in obtaining the requested products within a limited time. In 2015, about 70% of the US population used online shopping portals for purchasing various items.

Srinivas Sashidhar, a lead in-vitro diagnostic research analyst at Technavio, says, “Vendors are using promotional strategies such as online marketing to offer better accessibility of their products to end-users, which, in turn, will increase their product sales. Online marketing strategies also help the vendors in minimizing business setup, distribution, and operational costs. They help end-users by providing information about devices and their types.”

Rise in diabetic prevalence

The main point of focus for the providers of POC HbA1C testing as well as glucose meters has been to enable quick measurements. The focus is on improved optical sensitivity such as infrared spectroscopy to develop non-invasive POC testing meters. Hence, efforts are being emphasized on collaborating HbA1c testing with other tests such as for cholesterol.

“Combining HbA1c testing with urine analysis is also an effective solution for measuring microalbuminuria and nephropathy. Alere's Afinion is one such example. These expanded menus will provide a wider scope of test menus on a single platform along with efficient workflow for diagnostic laboratories,” adds Srinivas.

High adoption rate of molecular POC testing

The introduction of POC diagnostics has changed the way digital platforms work. The diabetic population uses the personal health records like EHRs to monitor their clinical conditions. This helps vendors to focus on developing mobile apps to use portable diagnostic devices remotely. Various non-profit organizations and governments are supporting the ongoing researches on digital healthcare platforms.

One of the concerns of POC diagnostics was that the results were not captured electronically. Therefore, they were less accessible and are not included in data analytics. Often the POC diagnosis data was available at the place of testing, but once the patient leaves the testing location, results become unavailable unless the devices are connected to the LIS and/or EHR.

Top vendors:

  • Abbott
  • Alere
  • Bio-Rad Laboratories

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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