Higher prevalence of diseases associated with blood is boosting demand for hematology analyzers and reagents and fueling market growth.
The Global Hematology Analyzers and Reagents Market is foreseen to expand at a stellar CAGR of 7.1% during the forecast period. The market is forecast to reach a valuation of USD 12.10 Billion by the end of 2027 from an estimated value of USD 7.00 Billion in the year 2019. Hematology is a branch of medicine which involves the study of cause and treatment of blood. The analyzer and reagents are mainly used for the treatment of diseases related to blood vessels, platelets, red and white blood cells, and bone marrow.
Another key factor boosting growth of the market is advent of technological advancements. The advancements in the technology are creating numerous opportunities for expansion of the market. Additionally, increasing demand for new technologies for the treatment of more deadly diseases and advanced blood testing for early screening of infectious diseases is fuelling growth of the global hematology analyzers and reagents market.
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Rising awareness about blood donations is leading to surge number of blood donation camps and blood banks, which is the increasing implementation of blood tests. This is a key factor propelling growth of the hematology analyzers and reagents market. Additionally, blood banks are increasingly using hematology analyzers and reagents for tracing potential infectious diseases in stored blood, which is another crucial factor further fuelling the market growth.
However, higher initial set up costs along with higher medical costs is restraining the hematology analyzers and reagents market growth substantially. Another factor leading to restraining market growth is the potential failure of wrong results, which may lead to misdiagnosis by clinicians. Nonetheless, increasing investment in the research and development (R&D) for improving tests results and technical advancements, improving the efficiency of tests are estimated to offer several opportunities for growth in the coming years. Additionally, the key players are further investing in improvement if microfluidic technologies to reduce overall operating costs is estimated to offer opportunities for growth during the forecast period.
Regionally, the hematology analyzers and reagents market is dominated by North America owing to a large number of patient’s pool suffering from blood-related diseases. Additionally, the factors such as defined governmental reimbursement policies, higher income, the advent of newer technologies in hematology devices, and growing demand of blood transfusions are estimated to fuel hematology analyzers and reagents market growth over the forecast period.
The market in Asia Pacific is following growth trend of North America and is estimated to expand at fastest CAGR during the forecast period. Growth of the market in Asia Pacific is credited to the presence of untapped opportunities and large patients pool in the region. Furthermore, the higher investment in the healthcare industry to cater to large patients pools and to adopt advanced healthcare infrastructures from government, key players in the industry, and from healthcare provider are estimated to fuel market growth in coming years.
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Key participants in the hematology analyzers and reagents market include:
- Roche Diagnostics
- Abbott Laboratories
- Siemens AG
- HORIBA Ltd
- Beckman Coulter
- Nihon Kohden Corporation
- Sysmex Corporation
- Bio-Rad Laboratories
- Mindray Medical International Limited
- Boule Diagnostics AB
Hematology Analyzers and Reagents Market: Segmentation
For the purpose of this report, Reports And Data has segmented the global hematology analyzers and reagents market based on product, price range, end-user, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Hematology Analyzers
- Hemostasis Analyzers
- Plasma Protein Analyzers
- Hemoglobin Analyzers
- Immunohematology Analyzers
- Others
Price Range Outlook (Revenue, USD Billion; 2017-2027)
- High-end Hematology Analyzers
- Mid-range Hematology Analyzers
- Low-end Hematology Analyzers
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Research & Academic Institutes
- Blood Banks
- Hospital laboratories
- Commercial service Providers
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Infection Related Conditions
- Blood Cancers
- Anemia
- Hemorrhagic
- Others
Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Hematology Analyzers and Reagents Market Segmentation & Impact Analysis
4.1. Hematology Analyzers and Reagents Market Product Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing number of blood disorders
4.2.2.2. Increasing number of blood donations
4.2.3. Market restraints analysis
4.2.3.1. High initial setup cost
4.2.3.2. Stringent Government rules and Regulations
Continue…
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