The Insight Partners published latest research study on “Hematology Analyzers and Reagents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Service, Application, and End User,” the market is expected to reach US$ 13,007.87 million by 2027 from US$ 7,252.54 million in 2019. It is estimated to grow at a CAGR of 7.6% from 2020 to 2027. The report highlights the trends prevailing in the global hematology analyzers and reagents market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to increasing incidence of hematologic diseases and technological advancements in hematology analyzers during the forecast period.
The hematology analyzers and reagents market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the hematology analyzers and reagents market are present globally and have wide distribution and sales network through partnerships or authorized dealers.
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The players operating in the hematology analyzers and reagents market are highly competitive and have been introducing novel products and reagents. For instance, in May 2020, Beckman Coulter introduced DxH 690T hematology analyzer in the US to streamline workflow and minimize the downtime in medium-sized laboratories.
Moreover, in August 2020, IDEXX Laboratories, Inc. introduced ProCyte OneHematology Analyzer that helps deliver workflows with simplicity and consistency at the point of care. The company has also announced its plans for the global rollout of this product by early 2021. In addition, in July 2017, Sysmex launched the XN-L automated hematology analyzers in the US. Later in September 2018, it also launched XS-500ix in the Chinese market. The new product is an automated hematology analyzer of its XS-Series. Furthermore, in September 2020, Agappe Diagnostics, in collaboration with L&T Technology Services Limited, introduced its first indigenously developed hematology analyzer, Mispa Count X. The launches of such new products are fueling the growth of the hematology analyzers and reagents market.
Browse key market insights spread across 229 pages with 162 list of tables & 83 list of figures from the report, “Hematology Analyzers & Reagents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Service (Hematology Products & Services, Hemostasis Products & Services, and Immunohematology Products & Services), Application (Anemia, Blood Cancer, Hemorrhagic Conditions, Infection Related Conditions, Immune System Related Conditions, and Other Applications), and End User (Hospital Laboratories, Commercial Service Providers, Government Reference Laboratories, and Research and Academic Institutes)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/hematology-analyzers-and-reagents-market
Hematology Analyzers & Reagents Market: Competitive Landscape and Key Developments
The most notable market participants are Clinical Diagnostic Solutions, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Danaher, BIO-RAD LABORATORIES INC., Abbott, Diatron, ERBA Diagnostics Inc., EKF Diagnostics, HORIBA Medical, and Biosystems S.A. occupying a considerable share of the market owing to their offerings to the market.
Market leaders are involved in extensive research for the development of new hematology analyzers and reagents and therapeutics with better efficiency and treatment outcomes. For instance, in May 2018, EKF Diagnostics, the global in-vitro diagnostics company, announced U.S. Food and Drug Administration 510(k) clearance and CLIA waiver for the Company’s hand-held, reagent-free hemoglobin analyzer, the DiaSpect Tm. The device is cleared for use in point of care (POC) and Certificate of Waiver settings, such as physicians’ offices, clinics and other non-traditional laboratory locations.
Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as collaborations and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:
In 2020, Beckman Coulter launched DxH 690T hematology analyzer in the U.S. Designed to streamline workflow and minimize downtime in mid-volume laboratories, the DxH 690T delivers all of the benefits of the company’s flagship DxH 900 large-volume hematology analyzer in a table-top configuration.
In 2019, ERBA Diagnostics Mannheim GmbH (Mannheim, Germany) launched its latest hematology analyzers at MedLab Middle East, an international platform for laboratory management and medicine that was held between February 4-7, 2019, at the Dubai International Convention and Exhibition Centre, Dubai, UAE
In 2019, HORIBA Medical and LABORATORIO ECHEVARNE, one of the major Laboratory Medicine providers in Europe have signed a multi-year, multi-site contract for the supply of the high range fully automated Hematology analyzers during the EuroMedLab congress
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Impact of COVID-19 on Hematology Analyzers & Reagents Market
The COVID-19 pandemic is estimated to have a significant positive impact on the hematology analyzers and reagents market. Majority of the pharmaceutical companies across the world are engaged in the development of vaccines for COVID-19. Moreover, companies are now focusing on the development of the antibody-specific COVID-19 blood tests, which is anticipated to have a positive impact on the other segments of the market in the coming months. However, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.
Based on product and service, the global hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest market share. The same segment is also expected to dominate the market by 2027 as it has diverse testing volumes that helps deliver accurate results. Moreover, these instruments are generally used in medical laboratories to detect protein or enzymes, and count blood cells in order to help in the diagnosis of illness and genetic defects.
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