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Advanced glycation end products (AGEs) are a group of heterogeneous compounds that are formed by nonenzymatic reactions between reducing sugars or carbohydrates and amino groups on proteins, lipids, and nucleic acids. AGEs are believed to play a role in aging and the development of several age-related diseases such as diabetes, neurodegenerative disorders, cardiovascular diseases, and cancer. AGE inhibitors can help block the formation and accumulation of AGEs and are used to treat various disorders associated with increased AGE levels, such as diabetes and its complications. Significant growth in the diabetic population worldwide is expected to drive the demand for AGE inhibitors over the forecast period.
The global advanced glycation end products market is estimated to be valued at US$ 3.1 billion in 2024 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 Dynamics:
Increasing prevalence of diabetes is driving the advanced glycation end products market. According to the International Diabetes Federation, around 537 million people aged 20-79 years suffered from diabetes worldwide in 2021. This number is projected to reach around 643 million by 2030 and 783 million by 2045. Growing diabetes prevalence increases the risks of diabetes-related complications like neuropathy, nephropathy, cardiovascular diseases, and cancer, which involve elevated AGE levels. Therefore, rising diabetes burden is augmenting the demand for AGE inhibitors during the forecast period. Another major driver for the market growth is the increasing number of clinical trials being conducted to evaluate the role of AGE inhibitors in reducing diabetes complications. For instance, in November 2020, AI Therapeutics announced the commencement of Phase III clinical trials to evaluate the efficacy and safety of pimagedine, an AGE inhibitor, in slowing the progression of diabetic kidney disease. Thus, ongoing research and development activities related to AGE inhibitors are propelling the market growth.
Segment Analysis
The advanced glycation end products (AGEs) market can be segmented into diagnostic assays, fluorescence assays, ELISA assays, and chromatography assays based on product types. ELISA assays dominate the market with over 40% share as they are cost-effective and easy to use for quantitative measurement of AGEs.
PEST Analysis
Political: The advanced glycation end products market is regulated by stringent approval norms governed by regulatory bodies like FDA in the US and EMA in Europe. Any changes in regulations can impact the market growth.
Economic: Growing geriatric population and the increasing prevalence of chronic diseases like diabetes, CVDs drive the economic growth of this market. However, the high cost of novel diagnostic may hinder adoption in price-sensitive developing regions.
Social: Rising health awareness and focus on early disease diagnosis are positive social factors contributing to the market growth. Social programs promoting preventive healthcare and wellness further boost demand.
Technological: Continuous R&D in the development of advanced point-of-care and non-invasive diagnostic assays incorporating novel biosensors and biomarkers will expand applications and drive the technological growth of this market over the forecast period.
Key Takeaways
The global advanced glycation end products market is expected to witness high growth.
Regional analysis: North America dominates with over 30% market share due to growing diabetic population and rapid adoption of novel diagnostic in the US and Canada. Asia Pacific is the fastest growing region attributed to increasing healthcare expenditure,rising medical tourism, and growing awareness in countries like China and India.
Key players operating in the advanced glycation end products market are Abcam PLC, Cell Biolabs, Inc., Cusabio Technology LLC, Creative Diagnostics, Diazyme Laboratories, Inc., Elabscience Biotechnology Co., Ltd., Genway Biotech, Inc., Hycult Biotech, Novus Biologicals, and Thermo Fisher Scientific Inc.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
