The boronate affinity tests global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Boronate Affinity Tests Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The boronate affinity tests market size has grown strongly in recent years. It will grow from $3.15 billion in 2023 to $3.47 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to increased research and development, a rising incidence of chronic diseases, a growing biotechnology industry, growing government and academic research funding, increasing demand for personalized medicine, and increased availability of advanced equipment.
The boronate affinity tests market size is expected to see rapid growth in the next few years. It will grow to $5.08 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to growing adoption in clinical diagnostics, rising awareness and education, expansion into emerging markets, strategic collaborations and partnerships, increasing prevalence of metabolic disorders, and a growing focus on early disease detection. Major trends in the forecast period include integration with digital health, automation and high-throughput screening, expansion in clinical applications, advancements in sample preparation, an increased focus on glycomics, the development of new reagents and kits, and regulatory advancements.
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Scope Of Boronate Affinity Tests Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Boronate Affinity Tests Market Overview
Market Drivers –
The increasing diabetic population is expected to propel the growth of the boronate affinity tests market going forward. Diabetes is a chronic medical condition characterized by high blood glucose levels due to the body’s inability to produce or effectively use insulin. The diabetes cases are rising due to poor diet, especially high consumption of processed foods and sugary drinks, and sedentary lifestyles characterized by minimal physical activity. Moreover, the aging population and family history of diabetes increase the risk, indicating a genetic predisposition. Boronate affinity tests are used in diabetes management to accurately measure glycated proteins, providing a reliable indicator of long-term blood glucose control. For instance, in June 2023, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, global diabetes cases are projected to increase from 529 million in 2021 to 1.3 billion by 2050. Therefore, the increasing diabetic population will drive the growth of the boronate affinity tests market.
<h4 class=reporthtag>Rising Focus On Personalized Medicine Drives Growth In Boronate Affinity Tests Market</h4>
The increasing focus on personalized medicine is expected to propel the growth of the boronate affinity tests market going forward. Personalized medicine customizes healthcare using individual genetic, environmental, and lifestyle information to optimize treatment outcomes. The growing emphasis on personalized medicine is fueled by a better understanding of genetic variations and their health impacts, as well as advancements in diagnostic tools and progress in data analysis, bioinformatics, and precision medicine technologies. Boronate affinity tests in personalized medicine are used for precise monitoring of glycation levels in patients, aiding in tailored diabetes management and treatment plans. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Moreover, it includes seven drugs tailored for cancer treatment and three targeting different diseases and conditions. Therefore, the increasing focus on personalized medicine will drive the growth of the boronate affinity tests market.
The boronate affinity tests market covered in this report is segmented –
1) By Product Type: Test Kits, Instruments, Consumables
2) By Technology: Fluorescence Based Tests, Colorimetric Assays, Electrochemical Methods
3) By Indication: Type 1 Diabetes, Type 2 Diabetes
4) By End User: Hospitals And Clinics, Diagnostics Labarotories, Research Institutes, Pharmaceutical And Biotechnology Companies
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Regional Insights –
North America was the largest region in the boronate affinity tests market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the boronate affinity tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the boronate affinity tests market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers, Merck KGaA, Tosoh Corporation, Agilent Technologies Inc, Bio-Rad Laboratories Inc, Alere Inc, Green Cross Holdings Corp., Bio-Techne Corporation, ARKRAY Inc, EKF Diagnostics Holdings plc, HemoCue AB, Trinity Biotech, SeraCare Life Sciences Inc, Medix Biochemica, PTS Diagnostics, Biosynth, Santa Cruz Biotechnology, A Menarini Diagnostics Srl, Diazyme Laboratories Inc, Bioventix PLC, GenWay Biotech Inc, Diatheva, OSANG Healthcare Co Ltd, Cypress Diagnostics, Goldsite Diagnostics Inc
Table of Contents
1. Executive Summary
2. Boronate Affinity Tests Market Report Structure
3. Boronate Affinity Tests Market Trends And Strategies
4. Boronate Affinity Tests Market – Macro Economic Scenario
5. Global Boronate Affinity Tests Market Size and Growth
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32. Global Boronate Affinity Tests Market Competitive Benchmarking
33. Global Boronate Affinity Tests Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Boronate Affinity Tests Market
35. Boronate Affinity Tests Market Future Outlook and Potential Analysis
36. Appendix
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