The Global Hematology Market has been estimated to be valued at USD XX billion for the year 2016 and it is expected to reach USD XX billion by 2021 at a CAGR of XX%, during the forecast period from 2016 to 2021.
Hematology is the branch of medicine which deals with the study, diagnosis, and treatment of blood-related disorders. Hematology instruments are the diagnostic tools that analyze blood. They are used in testing, counting, measuring and analyzing red blood cells, WBC and platelets. Hematology instruments have evolved rapidly in recent years and many traditional tools were replaced by automated instruments which provide fast and accurate results. Automation is a growing trend in this market. The market is shifting from manual testing to semi-automated analyzers to fully automated analyzers.
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Hematology instruments are used for both regular and critical testing in clinical laboratories. These tools offer solutions to both physicians and healthcare providers. Hematology tools are used for general assessment of health for patients during regular check-ups and for diagnosing conditions such as anemia, leukemia, hemophilia, infection, allergy, iron and vitamin deficiencies, myelofibrosis, malignant lymphomas etc. According to Leukemia & Lymphoma Society (LLS), approximately 9.8% of the population in U.S. was diagnosed with leukemia, myeloma and lymphoma of the 1,658,370 new cases of cancer in 2015. National Hemophilia Foundation data shows that nearly 400,000 cases are suffering from hemophilia.
They are used in Clinical laboratories (medical & diagnostic), Hospitals, Point-of-Care testing, Patient self-testing, Biopharmaceutical industries, Academics and Others. In recent years, the use of hematology diagnostic tools has increased due to increasing incidences of blood disorder diseases. The market potential of hematology is anticipated to grow due to increasing support from private and government organizations and improvement in the technologies. Development of advanced, automated hematology instruments (use of digital imaging systems, microfluidics technology in hematology analyzers) creates opportunities for growth of this market.
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Increasing incidences of blood disorders, aging population, rapid technological advances, rising demand for improved healthcare facilities, increased adoption of hematology instruments by the diagnostics industry and increasing development of high throughput hematology analyzers are the major factors boosting the market growth. In addition, rising government initiatives to support this market is fueling its growth. However, there are certain factors constraining the growth of global hematology market. High cost of the instruments, poor health insurance coverage, and lack of awareness among people are the factors restraining market growth.
The Hematology market can be segmented on the basis of Products and Reagents. The products segment includes Hematology Analyzers (Fully automated hematology analyzers and semi-automated analyzers), Flow Cytometers, Coagulation Analyzers, Slide Stainers, Centrifuges, and Hemoglobinometers. Reagents segment includes Coagulation reagents, Flow cytometer reagents, Hematology reagents, Control plasmas, Hematology stains and Immunohematology reagents.
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. North America dominates the global hematology market. It is currently the single largest market for hematology analyzers owing to increasing incidence of blood disorders, availability of a large number of diagnostic centers and rising R&D investments. Europe is the 2nd largest market. Asia Pacific is expected to witness a high growth rate. India and China are expected to witness fast growth due to the availability of large patient pools, rising demand for technologically-advanced diagnosis devices and improving healthcare infrastructure.
Many players in this market are trying to expand their product portfolio in order to top the global market. Few companies adopted product innovation and new product launches as its key business strategy to ensure its dominance in this market. The key players for hematology market are Beckman Coulter, Abbott Laboratories, Danaher, Siemens Healthcare, Sysmex Corporation, Mindray Medical International Ltd, Beckman Coulter, Inc., Roche Diagnostics, Bio-Rad Laboratories and Sigma Aldrich Corporation among others. In an effort to boost their market share in an increasingly competitive market, hematology companies have been very active with acquisitions and partnerships. Sysmex Corporation, Beckman Coulter, Inc., and Abbott Laboratories are known to dominate the hematology market.
Key Deliverables in the Study
Market analysis for the Global Hematology Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global hematology market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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Some points from TOC:
1.1 Study deliverables
1.2 Market Definition
1.3 Sizing Units
1.4 Base Currency
1.5 Review and Forecast period years
1.6 General Study Assumptions
- Research Methodology
2.2 Analysis Methodology
2.3 Econometric Forecast Model
2.4 Research Assumptions
- Executive Summary
- Key Inferences
- Market Overview and Industry trends
5.1 Current Market Senario
5.2 Porter’s Five Forces
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat to new entrants
5.2.4 Threat to substitute products and services
5.2.5 Competitive Rivalry within the industry
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