Boronate Affinity Tests Market Report 2024

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 during the historic period can be attributed to several factors, increased research and development, a rising incidence of chronic diseases, expansion of the biotechnology industry, growing government and academic research funding, increasing demand for personalized medicine, and greater 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 anticipated growth during the forecast period can be attributed to several factors, increased adoption in clinical diagnostics, rising awareness and education, expansion into emerging markets, strategic collaborations and partnerships, a higher prevalence of metabolic disorders, and a growing focus on early disease detection. Major trends expected to drive growth include the integration with digital health technologies, advancements in automation and high-throughput screening, expansion into new clinical applications, improvements in sample preparation, a heightened focus on glycomics, development of new reagents and kits, and ongoing regulatory advancements.

The growing diabetic population is anticipated to drive the expansion of the boronate affinity tests market. Diabetes, a chronic condition marked by elevated blood glucose levels due to ineffective insulin production or use, is on the rise due to factors such as poor diet - particularly high consumption of processed foods and sugary drinks - and sedentary lifestyles with minimal physical activity. Additionally, an aging population and genetic predisposition, including family history of diabetes, further contribute to the increase in cases. Boronate affinity tests are crucial for managing diabetes as they accurately measure glycated proteins, which serve as reliable indicators of long-term blood glucose control. For example, data from The Lancet published in June 2023 projected global diabetes cases to rise from 529 million in 2021 to 1.3 billion by 2050. This increasing prevalence of diabetes is expected to propel the growth of the boronate affinity tests market.

The growing emphasis on personalized medicine is also likely to boost the boronate affinity tests market. Personalized medicine tailors healthcare based on individual genetic, environmental, and lifestyle factors to enhance treatment outcomes. This approach is gaining traction due to advancements in genetic understanding, diagnostic tools, data analysis, bioinformatics, and precision medicine technologies. Boronate affinity tests are integral to personalized medicine for precise monitoring of glycation levels, which supports customized diabetes management and treatment plans. For instance, the Personalized Medicine Coalition reported in February 2024 that the FDA approved 16 new personalized therapies for rare diseases in 2023, up from six in 2022. This includes seven drugs for cancer and three for other conditions. The increasing focus on personalized medicine is expected to drive the demand for boronate affinity tests.

In December 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., a medical technology company based in China, acquired a 75% stake in DiaSys Diagnostic Systems GmbH for an undisclosed sum. This acquisition aims to strengthen Mindray's global presence in the in vitro diagnostics (IVD) sector by leveraging DiaSys's established supply chains and expertise in clinical chemistry. DiaSys Diagnostic Systems GmbH, based in Germany, is known for its diagnostic systems, including HbA1c analyzers that use boronate affinity chromatography.

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.

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.

The countries covered in the boronate affinity tests market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Boronate affinity tests are utilized to explore interactions between boron-containing compounds and molecules with diol or other cis-diol functional groups. These tests take advantage of the ability of boronate esters to form reversible covalent bonds with diol groups, which is valuable for applications such as protein and carbohydrate analysis and drug development.

The primary product types for boronate affinity tests include test kits, instruments, and consumables. Test kits are pre-packaged sets containing all necessary reagents and materials to conduct the tests, designed for detecting specific compounds such as glycated proteins using boronate affinity technology. Technologies used in these tests include fluorescence-based assays, colorimetric assays, and electrochemical methods, with applications in diagnosing conditions such as type 1 and type 2 diabetes. End users of boronate affinity tests include hospitals, clinics, diagnostic laboratories, research institutes, and pharmaceutical and biotechnology companies.

The boronate affinity tests market research report is one of a series of new reports that provides boronate affinity tests market statistics, including boronate affinity tests industry global market size, regional shares, competitors with an boronate affinity tests market share, detailed boronate affinity tests market segments, market trends and opportunities, and any further data you may need to thrive in the boronate affinity tests industry. This boronate affinity tests market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The boronate affinity tests market consists of revenues earned by entities by providing services such as glycoprotein and carbohydrate detection, glycosylation pattern analysis, and biomolecule isolation using boronic acid derivatives. The market value includes the value of related goods sold by the service provider or included within the service offering. The boronate affinity tests market also includes sales of boronate affinity columns, boronate affinity resins, boronate affinity kits, detection reagents, assay plates, instrumentation and calibration standards. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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