About the Hemoglobin Testing Market
The red blood cells in the bloodstream carry a protein known as hemoglobin, which helps to transport oxygen throughout the body. Hemoglobin tests are conducted to detect the quantity of hemoglobin present in the blood. These tests are often done as a part of complete blood count during a routine health check-up or at the time of any illness to determine the type of anemia, which occurs due to low count of red blood cells. Studies estimated that worldwide around 416 million people were living with diabetes in 2015. Out of which, around 46% of them, i.e., 191.3 million people, were not diagnosed with this disease, owing to lack of awareness. Diabetes and anemia are not directly linked, but studies reveal that around 26% of people with diabetes are diagnosed with anemia. Kidney damage or chronic kidney disease is a common condition observed in people with chronic diabetes.
Technavio’s analysts forecast the global hemoglobin testing market to grow at a CAGR of 10.58% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hemoglobin testing market for 2016-2020. To calculate the market size, we use revenue generated from the sales of various types of hemoglobin testing equipment and consumables.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hemoglobin Testing Market 2016-2020
Technavio recognizes the following companies as the key players in the global hemoglobin testing market: Abbott Diagnostics, Alere, Danaher, EKF Diagnostics Holdings, and Roche Diagnostics.
Other Prominent Vendors in the market are: ACON Laboratories, ARKRAY, Bayer Medical Care, Bio-Rad Laboratories, Daiichi Biotech, DiaSys Diagnostic Systems, Diazyme Laboratories, Epinex Diagnostics, Erba Diagnostics, Fisher Scientific, GREEN CROSS MEDIS, HORIBA, HUMAN Gesellschaft für Biochemica und Diagnostica, Masimo, Mindray Medical International, OrSense, PTS Diagnostics, Randox Laboratories, Sebia, Siemens Healthcare, Sysmex, TaiDoc Technology, Tosoh Bioscience, Trinity Biotech, and Una Health.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth is the shift from centralized laboratory use to POCT. The centralized hemoglobin testing methods are useful to diagnose people with diabetes and anemia. However, the time required for the sample analysis is more, and this adds up the time for diagnosis. This drawback of centralized testing has shifted the blood sample analysis to POCT, where the results are provided instantly in the POC settings. This assists physicians in the immediate diagnosis of disease, thereby initiating effective treatment strategies. The POC hemoglobin testing devices are useful, particularly in people with anemia, to check the hemoglobin variants and HbA1c levels.”
According to the report, a key growth driver is the development and launch of novel testing devices by vendors. Development in hemoglobin testing has offered many advantages in the clinical diagnosis methods. Manufacturers develop and launch innovative products in the market, which helps them penetrate the market. For instance, manufacturers are focused on developing hemoglobin test devices that can be used at home settings. In addition, vendors are developing compact and portable devices, which require less space and can be transferred easily during emergency situations.
Further, the report states that one challenge that could hamper market growth is the high cost and maintenance of hemoglobin testing. In the case of POC analyzers it is mandatory to maintain the products with correct functioning to obtain accurate results. Also, storage conditions of blood testing strips and operator's performance need to be checked continuously. The
Abbott Diagnostics, Alere, Danaher, EKF Diagnostics Holdings, Roche Diagnostics, ACON Laboratories, ARKRAY, Bayer Medical Care, Bio-Rad Laboratories, Daiichi Biotech, DiaSys Diagnostic Systems, Diazyme Laboratories, Epinex Diagnostics, Erba Diagnostics, Fisher Scientific, GREEN CROSS MEDIS, HORIBA, HUMAN Gesellschaft für Biochemica und Diagnostica, Masimo, Mindray Medical International, OrSense, PTS Diagnostics, Randox Laboratories, Sebia, Siemens Healthcare, Sysmex, TaiDoc Technology, Tosoh Bioscience, Trinity Biotech, Una Health.