Fructosamine Test Market Predicted to Hit US$ 399.9 Million in 2034, Riding on a Strong 3.8% CAGR Wave | Future Market Insights Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Fructosamine testing for diabetes is booming due to rising diabetes rates, awareness, and need for faster blood glucose monitoring. Point-of-care tests offer quick, accessible results for better diabetes management.
NEWARK, Del, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global fructosamine test market was valued at around US$ 266.3 million in 2023 and is poised to exhibit a CAGR of 3.8% during the forecast period. Accordingly, total market valuation is expected to increase from US$ 275.9 million in 2024 to US$ 399.9 million by 2034.
Several factors are anticipated to drive the growth of the fructosamine test industry over the assessment period. These include increasing incidence of diabetes and obesity, growing awareness about fructosamine testing, and rising need for efficient blood glucose monitoring diagnostic tests.
Fructosamine testing has become a widely used method for measuring blood glucose. It does not require fasting and can be helpful when an HbA1c test is unreliable.
There has been a sharp rise in cases of diabetes during the last few years. For instance, according to the International Diabetes Federation, around 537 million adults were living with diabetes in 2021. This, in turn, is expected to uplift demand for fructose tests.
Fructosamine testing is an important method that helps medical professionals monitor glycemic management in diabetics. The growing demand for these monitoring technologies highlights the need to address the expanding diabetes epidemic. It also shows the critical role innovative approaches, such as fructosamine testing, play in treating and reducing the effects of this chronic condition.
Another notable trend is the growing focus on fructosamine point-of-care diagnostics, which provide quick and easy glycemic control monitoring at the patient's location. This change speeds up the evaluation of fast-acting blood glucose levels, allowing for rapid medical choices.
Point-of-care testing minimizes the need for a large laboratory infrastructure by streamlining the diagnostic procedure and providing instant results. This trend supports proactive diabetes management by improving patient accessibility to timely healthcare information, which is the primary goal.
Point-of-care fructosamine tests are a major improvement in decentralized healthcare due to their accessibility and speed. They significantly promote quicker interventions and improve overall patient outcomes.
Key Takeaways from the Fructosamine Test Market Study
The global market for fructosamine test is set to attain a valuation of US$ 399.9 million in 2034
By disease indication, the diabetes II segment held a market share of about 59.4% in 2023.
By sample, the blood serum is expected to progress with a CAGR of 3.5%.
By end-user, the hospitals segment accounted for a revenue share of 29.8% in 2023.
North America dominates the global market with a share of around 31.5%.
The United States market value totaled US$ 74.7 million in 2023.
Demand in India is predicted to rise at 7.9% CAGR through 2034.
“The rising focus on personalized diabetes management and compliance with CLIA standards enhances the use of fructosamine tests in clinical laboratories. This, in turn, will boost the growth of the fructosamine test industry over the forecast period,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
The primary strategies employed by the industry's leading manufacturers include new product launches, distribution agreements, partnerships, acquisitions, and collaborations. Several companies are also launching awareness programs and campaigns to expand their customer base.
The Top Key Companies Profiled in the Fructosamine Test Market
Beckman Coulter, Inc.
Randox Laboratories Ltd.
Fortress Diagnostics
KAMIYA BIOMEDICAL COMPANY
Abbexa
Weldon Biotech, Inc.
Eurolyser Diagnostica GmbH
F. Hoffmann-La Roche Ltd
Asahi Kasei Pharma Corporation (EKF DIAGNOSTICS)
LifeSpan BioSciences, Inc
Zhejiang Kangte Biotechnology Co., Ltd.
Diazyme
Abcam plc.
Weldon Biotech, Inc.
Bio Vision
Mybiosource
For instance,
In June 2023, Fortress Diagnostics created awareness with a focus on men's health testing awareness month and posted an article on diabetes and a higher risk of diabetes due to reduced rates of weight gain and accumulation of fat.
Want More Insights?
Future Market Insights (FMI) brings a comprehensive research report on projected revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. The global fructosamine test market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the fructosamine test industry based on disease indication (diabetes I, diabetes II, Gestational Diabetes], sample (blood serum, blood plasma), application (clinical diagnostics for humans, clinical diagnostics for animals, research use), and end-user (hospitals, specialty clinics, veterinary hospitals, diagnostic laboratories, academic & research institutes) across seven major regions.
About Healthcare Division at Future Market Insights (FMI)
Future Market Insights (FMI) facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
