By Type (Assays, Devices,Consumables), Disease Type (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), Deployment (Automated, Manual), End User (Hospitals, Clinics, Diagnostic Laboratories, Academic Institutes, Others), Distribution Channel (Direct, Indirect), Country (China, Japan, India, South Korea, Australia, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific), Market Trends and Forecast to 2027.
Market Analysis and Insights: Asia-Pacific Diabetic Assays Market
Asia-Pacific diabetic assays market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the CAGR of 4.8% in the forecast period of 2020 to 2027and expected to reach USD 991.48 million by 2027 from USD 688.27 million in 2019. Growing awareness among population for the detection of diabetes and rising government funding for the diagnosis of vascular diseases is accelerating the market growth.
The government plays major role while taking initiative for the diabetes diseases because diabetes is a leading chronic disease. Diabetes has increased very briskly in people from past decades. The cases of diabetes is increasing globally, which enforced governments to take action against diabetes by increasing awareness about diabetes, educating people about diabetes disorder via organizing campaigns, events and awareness days to help people manage diabetes and to reduce chances of death.
For instance, Australian Institute of Health and Welfare (AIHW) support and funded to national monitoring and surveillance of different vascular diseases, which also include diabetes, along with cardiovascular disease and chronic kidney disease. This government initiative focuses on awareness generation for life-style changes and behaviour, early diagnosis and screening of persons with risk and treatments and referrals to higher facilities disease management including diabetes.
This diabetic assays market report provide details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Diabetic Assays Market Scope and Market Size
Diabetic assays market is segmented on the basis of type, disease type, deployment, end-user and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
On the basis of type, the market is segmented into device, assays and consumables. In 2020, the assays segment is dominating the assays provide the accurate measurement of diabetes diagnosed using glucose tests.
The advancement in assays such as quick identification of diabetes through blood samples, major vendors augmented the market growth of diabetes assays market.
- In July 2017, Bio-Rad Laboratories Inc received approval from the FDA for D-10 Hemoglobin A1c Program, a diagnostic product which will provide accurate test results and early diagnosis for patient health improvement. Through this, the company has expanded its product offering and will also provide diagnosis and identification for the patients at risk of developing the diabetes at an earlier stage.
On the basis of disease type, the diabetic assays market is segmented into type 1 diabetes, type 2diabetes and gestational diabetes. Asian-Pacific region remains to be at forefront of type 2 diabetes epidemics including the consequences towards the health which threaten to be growing and devastating. For instance, in 2019, International Diabetes Federation (IDF) projected there was an estimated 463 million people which were affected from diabetes. In which Western Pacific comprises the total cases of diabetes around 163 million whereas South-East Asia comprises around 88 million in 2019. The project number of cases was estimated as 212 and 153 million respectively in 2045. This growing number of diseases and majority around 90% of diseases is type 2 diabetes accelerating the diagnosis of cases and leading to market growth.
On the basis of deployment, the diabetic assays market is segmented into automated and manual. In 2020, automated segment is dominating and growing with the highest CAGR because of the new development of analyzers and associated software which provides automated operational workflow while diagnosis procedure.
On the basis of end-user, the diabetic assays market is segmented into hospitals, clinics, diagnostic laboratories, academic institutes and others. In 2020, hospitals segment is dominating as well as growing in the market as the diabetes assays due to the wide availability of diagnostic procedures of diabetes in hospitals laboratories which is performed under trained professionals for analysis of blood glucose level of diabetic patient.
On the basis of distribution channel, the diabetic assays market is segmented into direct and indirect. In 2020, the direct segment is dominating the Asia-Pacific diabetic assays market and is growing with the highest CAGR as the hospitals, established diagnostic laboratories and among others prefer the product supply directly from the manufacturers as the offering through this mode are lower in cost and are at discounted prices. Further, massive supply of such product is directly maintained by the manufacturer itself and due to these reasons this segment is leading in the forecasted period.
Diabetic Assays Market Country Level Analysis
Asia-Pacific diabetic assays market is analysed and market size information is provided by country, by type, disease type, deployment, end-user and distribution channel as referenced above.
The countries covered in the diabetic assays market report are China, Japan, India, South Korea, Australia, Malaysia, Singapore, Thailand, Indonesia, Philippines and Rest of Asia-Pacific in Asia-Pacific.
Country Level Analysis, By Type
Asia-Pacific dominates the diabetic assays market as the China is leader in diabetic assays manufacturing and major leaders are generating revenue from China due to high prevalence cases of diabetes in China in Asian region population requires high detection of diabetes assays for the identification and detection of diabetes diseases. For instance, in 2017, according to International Diabetes Federation (IDF) in China the total number of diabetes cases was 120,907,995, whereas diabetes cost per person was around USD 564.01. The overall expenditure and high prevalence rate focused towards the diagnosis of diabetes and accelerating the growth of diabetes assays in forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Awareness towards the Detection of Diabetes and New Technology Penetration
Asia-Pacific diabetic assays market also provides you with detailed market analysis for every country growth in healthcare industry with diabetic assays sales, assays and devices sales, impact of technological development in assays and changes in regulatory scenarios with their support for the diabetic assays market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Diabetic Assays Market Share Analysis
Asia-Pacific diabetic assays market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Asia-Pacific diabetic assays market.
The major players covered in the report are Abbott, Danaher, Merck KGaA, SIEMENS HEALTHINEERS AG, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., EKF Diagnostics, DRG INSTRUMENTS GMBH, PTS Diagnostics, Ortho Clinical Diagnostics, Medipan GmbH, Diagnostic Automation/Cortez Diagnostics Inc., Diazyme Laboratories, Inc., Ethos Biosciences, Inc., BioAssay Systems, Tosoh Corporation, Abnova Corporation, Monobind Inc, ORGENTEC Diagnostika GmbH, ALPCO, among other players in Asia-Pacific. Diabetic assays market share data is available for Asia-Pacific separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the Asia-Pacific diabetic assays market.
- In November 2018, Diazyme Laboratories, Inc has received 510(K) approval from the U.S. Food and Drug Administration (FDA) for its product named 1,5 AG assay. This offers a fully automated reagent sample for use on approved medicinal chemistry analyzers. This approval from FDA will expand the product portfolio as well as market size of the company.
- In February 2018, Merck KGaA (Germany) has set up a new production unit for the life sciences business in Mumbai, India. The unit occupies 10 acres of space plus gross domestic product storage for future growth, thereby reducing lead times along with improving inventory availability. This manufacturing unit will expand the business growth as well as overall revenue of the company.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for diabetic assays through expanded model range.
Customization Available : Asia-Pacific Diabetic Assays Market
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