logo
logo
Sign in

Advanced Glycation End Products Market Challenges: Strategies for Overcoming Industry Hurdles

avatar
Roger
Advanced Glycation End Products Market Challenges: Strategies for Overcoming Industry Hurdles

Advanced Glycation End Products (AGEs) are formed in the body as a result of hyperglycemia and are implicated in the development of chronic diabetic complications. Advanced glycation end products testing helps in early detection of diabetes and related chronic diseases along with monitoring disease progression and treatment response. AGEs testing provides quantitative measurement of three major circulating AGEs (carboxymethyl-lysine, carboxyethyl-lysine, and pentosidine) in the blood and is playing an important role in risk stratification and advancing precision medicine approaches for diabetes and associated conditions.


The global Advanced Glycation End Products Market is estimated to be valued at US$ 1.2 billion in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Opportunity

Prevalence of Diabetes and Other Chronic Diseases


The market opportunity lies in the rising prevalence of diabetes and other chronic diseases globally. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is expected to rise to 643 million by 2030 and 783 million by 2045. Diabetes leads to serious health complications affecting eyes, kidneys, heart, nerves, and blood vessels. AGEs testing helps in early detection of diabetes related complications and facilitating timely intervention. Moreover, AGEs levels also increase with age and play a role in age-related chronic conditions like cardiovascular disease, renal disease, neurological disorders providing opportunities for AGEs testing in geriatric population screening and management of chronic diseases.


Porter's Analysis

Threat of new entrants: New entrants face high initial costs of establishing manufacturing plants and R&D facilities, acting as a barrier. Bargaining power of buyers: Individual buyers have low bargaining power as they lack specialized healthcare knowledge but group buyers like hospitals have moderate bargaining power. Bargaining power of suppliers: The presence of numerous ingredient suppliers keeps bargaining power in balance. Threat of new substitutes: Potential substitutes can emerge but require sizable investments in research and approvals. Competitive rivalry: Intense competition exists between leading players to launch new products and increase geographic presence.


SWOT Analysis

Strengths: Strong research expertise and proprietary formulation technologies. Rising healthcare costs increase demand.

Weaknesses: High dependency on few therapeutic areas and key products for growth. Vulnerable to patent cliff of major drugs.

Opportunities: Emerging markets provide scope for expansion. Incremental product innovations address unmet needs.

Threats: Stringent regulations delay product launches. Price controls affect revenue in regulated markets.


Key Takeaways

The global Advanced Glycation End Products Market is expected to witness high growth during the forecast period of 2023 to 2030.

North America currently dominates the market due to rising obesity prevalence and diabetes. The key regional markets with high growth potential include Asia Pacific and Middle East & Africa on account of expanding healthcare infrastructure and patient awareness.


Key players operating in the Advanced Glycation End Products market are Merck KGaA, Thermo Fisher Scientific, Cayman Chemical Company, Abcam PLC, BioVision Inc., Intracellular Therapies, AMS Biotechnology, and Bioss Antibodies.


collect
0
avatar
Roger
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more