The report forecasts the global hemoglobin testing market to grow at a CAGR of 10.58% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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.
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.