The size of the Europe HbA1c Testing market is anticipated to grow at 11.32% CAGR from 2023 to 2028. The European market was estimated to be valued at USD 356.22 Million in 2023 and is expected to reach USD 608.96 Million by 2028.
Due to poor food choices, a lack of physical activity, and excessive stress levels, the number of people affected by diabetes grows significantly with each passing day. Consequently, physicians are increasingly recommending HbA1c tests to their patients, which is likely to boost HbA1c Testing market revenue. Furthermore, the introduction of point-of-care and other novel gadgets to reduce the cost of diabetes testing is expected to boost the HbA1c Testing Market's growth.
The senior population is growing rapidly in the European region, increasing diabetes patient accounts worldwide. Because of technology improvements, novel testing methodologies and portable devices are projected to emerge, providing attractive prospects for HbA1c testing market participants. The expanding scope of medical tourism in developing countries is likely to boost the market for HbA1c testing. The market's key participants are projected to benefit from rising public awareness of the need to effectively controlling diabetes.
Rising patient footfall is predicted to boost the affordability of testing equipment in hospitals during the forecast period, resulting in more opportunities for the HbA1c testing market to grow. In the long run, the prevalence of early illness diagnoses among people is also fuelling market demand. These factors are positively impacting the market during the forecast period.
The testing equipment is expensive. In underdeveloped nations, the adoption of these technologies is low, which is projected to hamper the growth of the HbA1c testing market. The high manufacturing costs of these devices have resulted in limited production of HbA1c testing devices, offering a challenge to the HbA1c market's major competitors. Inaccuracies in testing due to disparities in interpretations are another key obstacle projected to impede market progress over the forecast period. Government restrictions and guidelines may have a detrimental influence on the HbA1c Testing Market's growth rate. Europe HbA1c Testing market is expected to be restrained by these limitations.
This research report on the European HbA1c Testing market has been segmented and sub-segmented into the following categories.
By End User:
Due to the increased use of modern diagnostic tools and devices, as well as strategic initiatives such as collaborations and agreements by prominent vital players, Europe is expected to have the second-largest market share.
Due to the progressive growth in the adoption of sophisticated diagnostic tools by medical professionals, the HbA1c testing market in Europe is expected to see a significant increase throughout the review period. They also provide funds for developing models that provide a better patient experience. Furthermore, in the years ahead, an increase in the availability of molecular diagnostic test kits and incremental developments in precision medicine might contribute to the market's geographical expansion.
The UK is expected to lead the European market during the forecast period. Increasing demand for portable analyzers and the proliferation of diagnostic facilities in rural areas of nations are projected to fuel the HbA1c market's expansion during the forecast period.
Following the United Kingdom, Germany is predicted to have the largest share of the European HbA1c Testing market. The hba1c testing market is rapidly expanding, and leading market players are likely to benefit from several growth prospects throughout the forecast period.
KEY MARKET PLAYERS:
Some of the key players operating in the market are 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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