Market Research Report
Global Biochemistry Analyser Market - 2019-2026
|Published by||DataM Intelligence||Product code||879312|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Biochemistry Analyser Market - 2019-2026|
|Published: June 1, 2019||Content info: 130-180 Pages||
The global Biochemistry Analysers market was worth $XX billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.
The biochemistry analyzer is an instrument that uses a blood or urine sample and induces reactions using reagents to measure various components, such as sugar, cholesterol, etc. These tests are performed for routine health checks or at hospitals, and the results provide objective data enabling early detection and diagnosis of disease, as well as indicating the effects of treatment and patient prognosis.
The global market for biochemistry analysers is driven by the increase in the number people affected with chronic diseases such as diabetes, decentralisation of diagnostics services, increase in demand for POC solutions and the rising investment in healthcare infrastructure in emerging markets.
Chronic diseases affect millions of people worldwide with diabetes alone affecting 422 million people. The number is projected to rise to 629 million by 2045 as per the International Diabetes Federation. In the UK alone, 500 million biochemistry tests are performed each year with more than 50 % of them being for chronic diseases. With the number of people affected by these disorders increasing worldwide, the demand for diagnostic tests could increase.
Technological advances have resulted in biochemistry analysers becoming faster and smaller. The rising availability of portable and smaller biochemistry analysers has made it possible for physicians to set up their own point of care diagnostic centres instead of sending the samples to large labs. The number of diseases covered by point of care devices is also rising, thus potentially increasing the demand for small analysers. Along with these factors, due to the necessity of performing biochemistry tests for confirmation of multiple disorders, rising healthcare expenditure by governments and private sector could lead to higher investments in infrastructure such as the biochemistry analysers.
The global market for biochemistry analysers is restrained by the high capital cost of the machines, reduction in insurance reimbursement in North America and shortage of skilled labour. Biochemistry analysers have a significant capital cost; high-end machines may cost as much as $4,50,000. These high capital costs are forcing users such as hospitals to acquire them on rental plans leading to lower sales.
Based on product the global market for Biochemistry Analysers is broadly segmented as type, configuration and end-users.
By type, the global market for biochemistry analysers is bifurcated into fully automated and semi-automated systems. Semi-automated systems dominate the global market by volume due to their significantly lower cost. These analysers are commonly used in small diagnostic labs where the number of samples processed per day is low such as clinics or hospitals whereas automated analysers are used in core diagnostic labs with high sample volumes. The market for automated analysers could increase faster due to the increasing trends towards automation in the industry.
By configuration, the global market for biochemistry analysers is bifurcated into floor-standing and bench-top analysers. The market is dominated by floor-standing analysers by revenue and by bench-top analysers by volume. Floor Standing analysers are typically larger and faster than bench-top analysers but their size and cost restricts their usage to core diagnostic laboratories.
By End-Users, the global market for biochemistry analysers is segmented into Hospitals, Diagnostic labs, research institutions and others. Diagnostic Labs dominate the global market by revenue due to the high capital cost required for the installation of the machines. Hospitals are expected to be the fastest growing segment during the forecast period due to the demand for faster results along with increasing availability of small scale and Point of Care analysers.
The global Biochemistry Analyser market is segmented into North America, Europe, Asia Pacific, South America, Middle-East and Africa.
North America is the largest market for biochemistry analysers due to its well-established healthcare infrastructure, large number of R&D labs and a population mostly covered by insurance. The market also dominates the Point of Care segment globally.
The Asia-Pacific market for biochemistry analysers is expected to grow the fastest during the forecast period due to the increasing investment in healthcare combined with the increase in population with the disposable income to spend on diagnostic tests.
The market for biochemistry analysers remains highly fragmented even though consolidation is taking place in the industry. Key players face competition in regional markets from local players. For instance, the local market in India is dominated by TransAsia.
Key players are acquiring other competitors, launching new products and increasing R&D spending in the low cost and POC analysers segment. To maintain product differentiation, key players are introducing new technologies such as the integrated and modular clinical chemistry analysers which perform the work of multiple machines at a faster rate. New players in emerging markets such as the Shanghai Kehua Co. Ltd. are launching new products and expanding global distributor networks to compete with established players.
Major players in biochemistry analyzer market are Siemens Healthineers AG, Roche AG, JEOL Ltd, Ortho Clinical Diagnostics, Shanghai Kehua Bio-Engineering Co. Ltd., Danaher Corporation, Hitachi, Horiba Group, Sysmex, EKF Diagnostics
In March 2019, Beckman Coulter announced the fully automated haemoglobin A1c (HbA1c) Advanced assay. The new assay enables mid- to high-volume laboratories to provide physicians with state-of-the-art precision and accuracy for diagnosing diabetes, monitoring long-term glucose control and identifying patients who may be at risk of developing diabetes.
In November 2018, FDA cleared VITROS® XT 7600 Integrated System from Ortho Clinical Diagnostics, Bringing Innovative New Approach to Clinical Lab Management. With this approval, Ortho introduces DIGITAL CHEMISTRY™ technology to clinical lab management in the U.S. by combining Ortho's proprietary MicroSlide technology with sophisticated digital imaging capabilities and the potential to perform two separate lab tests simultaneously.
In October 2017, Abbot Laboratories acquired Alere, a major player in the point of care diagnostic market for $5.3 billion, making the surviving entity the market leader in the $7 billion point-of-care diagnostic space.
Global Biochemistry Analyser Market Methodology and Scope
Global Biochemistry Analyser Market - By Type
Global Biochemistry Analyser Market - Premium Insights