Diabetic Markers Market En Route to US$ 2.6 Billion by 2033

The diabetic indicators market is anticipated to be valued US$ 928.1 million in 2023. Due to the rising number of burn injuries, the market is anticipated to reach US$ 2.6 billion by 2033 and develop at an 11.0% CAGR over the course of the forecast period. As diabetes becomes more prevalent worldwide, the market for diabetic indicators has been growing significantly. Diabetes is becoming more common due to a number of causes, such as sedentary lifestyles, poor diets, obesity, and an ageing population.

Different measures are referred to as diabetic indicators and are used to identify and track diabetes. Blood glucose levels, HbA1c (glycated hemoglobin), fasting plasma glucose, an oral glucose tolerance test, and random plasma glucose are examples of common indicators. These indicators assist medical practitioners in evaluating a person’s blood glucose management and overall diabetes treatment.

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Numerous diabetes diagnostic tests are available on the market. These examinations might consist of laboratory-based examinations carried out in clinical settings, such as HbA1c and blood glucose testing. Additionally, there are point-of-care (POC) tests that provide rapid results and can be performed outside of traditional healthcare settings, offering convenience and accessibility.

The diabetic marker market is expected to continue growing in the future. The market is expanding as a result of elements such rising diabetes awareness, better diagnostic and monitoring technologies, and the focus on early identification and prevention. The future of diabetes indicators may also be brightened by developments in personalized therapeutics, precision medicine, and machine learning and artificial intelligence.

Key Takeaways:

• The diabetic markers industry in the United States is predicted to reach US$ 771.6 million by 2033, increasing at a 10.0% CAGR.

• The diabetic markers industry in the United Kingdom is estimated to reach a market size of US$ 175.6 million, expanding at a CAGR of 8.2% by 2033.

• During the forecast period, the diabetic markers industry in China is expected to reach a market value of US$ 326.1 million, securing a 15.1% CAGR.

• The diabetic markers industry in Japan is predicted to reach US$ 203.0 million by 2033, increasing at a 14.1% CAGR.

• South Korea’s diabetic markers industry is predicted to achieve a market value of US$ 17.1 million, rising at an 18.2% CAGR during the forecast period.

• With a CAGR of 9.5% from 2023 to 2033, the traditional biomarkers is expected to dominate the diabetic markers industry.

• With a CAGR of 17.7% from 2023 to 2033, the type 2 diabetes is expected to dominate the diabetic markers industry.

• With a CAGR of 13.9% from 2023 to 2033, the hospitals expected to dominate the diabetic markers industry.

How Does the Competition Look in the Diabetic Markers Market?

The market for diabetic markers is quite competitive, with numerous companies vying for market share. Several significant participants in this industry comprise Tosoh Corporation, Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Bio-Rad Laboratories, Becton, Dickinson and Company, Sysmex Corporation, Ortho Clinical Diagnostics, Beckman Coulter, Randox Laboratories, DiaSys Diagnostic Systems, Trividia Health among other companies.

Leading firms are heavily spending in research and development initiatives in order to create innovative and unique goods with enhanced dependability, efficacy, and cost. To match evolving customer expectations, businesses are also expanding their product portfolio and strengthening their distribution strategy.

Tactical alliances and partnerships with other firms are becoming increasingly common in the industry, allowing parties to capitalise on one another’s advantages and expand their market dominance.

Mergers and consolidation are used by leading corporations to grow into new areas and increase their market share. The sector is quickly expanding in emerging nations, notably in China and India.

Major corporations are expanding their distribution networks and establishing regional production facilities to increase their presence in these areas. In order to gain a competitive edge, they are also focusing on providing cost-effective solutions to clients in these areas.

Key Players:

• Tosoh Corporation

• Roche Diagnostics

• Abbott Laboratories

• Siemens Healthineers

• Bio-Rad Laboratories

• Becton, Dickinson and Company

• Sysmex Corporation

• Ortho Clinical Diagnostics

• Beckman Coulter

• Randox Laboratories

• DiaSys Diagnostic Systems

• Trividia Health

Key Developments:

• March, 2022. In a partnership that was launched, Roche and Bristol-Myers Squibb will enhance two tests for use in clinical trials through the creation and implementation of two novel digital pathology algorithms. The first test is VENTANA PD-L1 (SP142) Assay in which Bristol Myers Squibb will be involved in the generation of biomarker data from clinical trial samples.

• In June 2022, during a historic CES keynote, Abbott introduces a new category of biowearables. In order to provide consumers a greater understanding of their health and wellness, Abbott will measure important indicators in the body such glucose, ketones, lactate, and alcohol.

Key Segmentation:

By Biomarker:

• Traditional Biomarkers

• Novel Biomarkers

• Inflammatory Biomarkers

By Application:

• Type 1 Diabetes

• Type 2 Diabetes

By End User:

• Hospitals

• Diagnostics Centers

• Specialty Clinics