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Glycated Albumin Market By Geography, Trends And Growth
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Glycated albumin is glucose bonded to an albumin molecule. Protein molecule i.e. albumin is present in the blood, major body organs, and body fluids. Function of albumin is to maintain shape of the cell and distribute hormones and nutrients.
The amount of albumin decreases in the body when blood glucose levels are low, whereas increases when blood glucose levels are high. Glycated albumin is measured during initiation of diabetes therapies to determine medication dose for treatment of diabetes.
According to a study conducted by American Association for Clinical Study, in 2011, glycated albumin is described as a novel biomarker for the detection and management of diabetes. Treatment of diabetes requires glycemic control. There are various measurements used to provide indicators, which include glycated hemoglobin (HbA1c), 1, 5-anhydroglucitol (1,5AG), and glycated albumin.
Glycated hemoglobin (HbA1c) indicates the glycemic level during the first three months of diabetes incidence. This measurement is useful for the confirmation of short-term therapeutic efficacy during initiation of the treatment for diabetes.
Increasing number of approvals of novel glycated albumin products in the market is expected to fuel the glycated albumin market growth in the near future
In 2015, Asahi Kasei Pharma Corporation received CE Marking for its new Lucica Glycated Albumin-L, an in vitro diagnostic assay kit, for glycated albumin (GA-L) in Europe. Lucica Glycated Albumin-L is used for the quantitative measurement of glycated albumin in human serum on compatible clinical chemistry analyzers. In 2015, Lucica Glycated Albumin-L received approval in Taiwan, in 2013 it received approval in Indonesia, and Korea.
In 2011, Diazyme Laboratories, Enzymatic glycated serum protein (GSP, Glycated Albumin) Assay Kit received approved by the U.S. Food and Drug Administration (FDA). Enzymatic glycated serum protein (GSP, Glycated Albumin) assay is two part liquid stable reagent, which can be used with various types of automated clinical chemistry analyzers. This product provides additional diagnostic values to clinical practices in diabetes management and screening. Thus, increasing approval of novel glycated albumin kits launched by key players in the market is expected to create a lucrative environment for the global glycated albumin market growth.
The global glycated albumin market value was US$ XX Mn in 2017, and is expected to witness a CAGR of XX% over the forecast period (2018 – 2026).
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Increasing prevalence of diabetes is expected to fuel the glycated albumin market growth
According to the International Diabetes Federation (IDF), the global diabetic population in 2015 was around 415 million and is expected to reach 642 million by 2040. Thus, rising prevalence of diabetes is expected to increase the demand for glycated albumin for its diagnosis, which in turn is expected to fuel the global glycated albumin assay market growth over the forecast period.
North America is expected to hold a dominant position in the global glycated albumin kits market due to high prevalence of diabetes in region. For instance, according to data published by American Diabetes Association in 2015, around 1.25 million children and adults in the U.S. were suffering from type 1 diabetes and around 84.1 million people aged 18 years and above had prediabetes.
Asia Pacific glycated albumin market is expected to show significant growth owing to increasing number of approvals for novel glycated albumin kits in the region. For instance, in 2015, Lucica Glycated Albumin-L by Asahi Kasei Pharma Corporation received approval in Taiwan. Company also received approval for its Lucica Glycated Albumin-L in Indonesia and Korea.
This report provides in-depth analysis of glycated albumin market and provides market size (US$ Million) and cumulative annual growth rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global glycated albumin market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies, and future plans
Key companies covered as a part of this study include Lifespan Biosciences, Biomatik Corporation, Abbexa Ltd., G Biosciences, DRG International, Inc., Amsbio LLC, Signalway Antibody LLC, United States Biological, Diazyme Laboratories, Abnova Corporation, Maccura Biotechnology Co. Ltd., Exocell Inc., Biorbyt Ltd., and Epinex Diagnostics Inc.
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