According to the current analysis of Reports and Data, the global Clinical Chemistry Analyzers market was valued at USD 11.07 Billion in 2019 and is expected to reach USD 16.81 Billion by the year 2027, at a CAGR of 5.7 percent. Clinical chemical analyzers are the computerized equipment used to analyze the stages of sugar and protein in the blood. Owing to their accuracy and time efficiency, these devices are used for the analysis of various diseases like diabetes and hyperlipemia, among others.
Increasing incidences of chronic lifetime diseases and a growing aging population are the factors that drive the global clinical chemistry analyzers market during the forecast period. Technological advancements in clinical chemistry analyzers such as StaRRsed Inversa automated erythrocyte sedimentation rate (ESR) analyzer, computer-assisted interpretation, and artificial intelligence have enabled large-scale testing and have facilitated early-stage detection of diseases in various areas like oncology, gynecology, and endocrinology.
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Moreover, consistent efforts by healthcare organizations to increase the reliability of data fuels the demand for clinical chemical analyzers. Moreover, growing awareness regarding preventative healthcare and specialized diagnostic methods, and rising healthcare expenditure are the factors expected to propel the market growth during the forecast period. The Clinical chemistry analyzers market is much fragmented and includes a large number of manufacturing giants as well as emerging players. Additionally, the emerging players have an excellent opportunity to enter the clinical chemistry analyzers market, owing to developments in the market and high demand from end-use industries.
A significant number of different products have been launched and developed in the clinical chemistry analyzers market. Key companies involved in the market are constantly improving their product portfolio and developing their product offerings. For instance, in July 2015, EKF Diagnostics, the global in-vitro diagnostics company, announced the international launch of the Altair 240 clinical chemistry analyzer at the American Association for Clinical Chemistry (AACC) Annual Meeting and Clinical Lab Expo Meet in Atlanta, U.S.
Further key findings from the report suggest
- Growing demand for clinical chemistry analyzers for various applications such as monitoring disease, drugs of abuse testing is also resulting in high growth of the market.
- Europe is expected to be the fastest-growing market segment with a CAGR of 5.9% owing to increased healthcare spending by governments of the countries in Europe.
- Based on the type of test, the lipid profile segment is expected to grow at the highest CAGR of 6.3% during the forecast period.
- Asia Pacific region is expected to witness lucrative growth at CAGR of 5.2% owing to the high prevalence rate of chronic diseases and the growing geriatric population in the region.
- However, the high cost of analyzers and risk of result uncertainty are some of the restraining factors for the growth of the clinical chemistry analyzers market over the forecast period.
- Key participants include Roche, Thermo Fisher, Johnson & Johnson, Siemens, and Beckman Coulter.
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For the purpose of this report, Reports and Data has segmented the Clinical Chemistry Analyzers Market on the basis of product, test type, end-use, and region:
Product (Revenue, USD Million; 2017–2027)
- Very Large
Test Type (Revenue, USD Million; 2017–2027)
- Basic Metabolic Panel
- Electrolyte Panel
- Lipid Profile
- Renal Profile
- Thyroid Function Panel
- Specialty Chemical Panel
End-Use (Revenue, USD Million; 2017–2027)
- Academic Research Centers
- Diagnostic Laboratories
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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