Market Research Report
Global Hematology Analyzers and Reagents Market - 2021-2028
|Global Hematology Analyzers and Reagents Market - 2021-2028|
Published: September 9, 2021
Content info: 238 Pages
Delivery time: 1-2 business days
The Global Hematology Analyzers and Reagents Market is expected to grow at a CAGR during the forecasting period (2021-2028).
Hematology involves the science or investigation of blood cells and coagulation. Blood testing is essential for the usual physiological symptoms, such as infections, anemia, autoimmune disorders, diabetes, and cancer. Blood analysis or examination often reveals genetic data, organ defects, viruses, and so on. Hematology analyzers are commonly available to analyze blood and blood-related issues and take the form of simple handheld photo-optical equipment, advanced diagnostic point-of-care tools, and a highly automated or complex test facility analyzer.
The global hematology analyzers and reagents market size was worth US$ XX billion in 2020 and further predicted to reach US$ XX billion by 2028, at a CAGR of XX% during the forecast period (2021-2028).
The rates for automated hematology Instruments coupled with the preferences for high-sensitivity point-of-care (POC) hematology tests are expected to drive the market for hematology analyzers and reagents during the forecast period. In addition, rapid technological advances such as the implementation of basic flow cytometry techniques and the growth of high throughput hematology analyzers are expected to have a high impact on this industry's drivers.
The players active in the hematology analyzers and reagents market are highly competitive and have introduced novel products and reagents in the past. For instance, in May 2020, Beckman Coulter introduced DxH 690T hematology analyzer in the US to streamline workflow and reduce downtime in medium-sized laboratories. Besides, in August 2020, IDEXX Laboratories, Inc. launched a ProCyte OneHematology Analyzer to help deliver workflows with ease and accuracy at the point of treatment. The company also confirmed plans for the global roll-out of this product by early 2021. Besides, Sysmex unveiled an automated XN-L hematology analyzer in the US in July 2017. Later in September 2018, XS-500ix was also released on the Chinese market; the latest device is an automated hematology analyzer of the XS series. Also, Agappe Diagnostics, in partnership with L&T Technology Services Limited, launched the first indigenous hematology analyzer, Mispa Count X, in September 2020. The introduction of such new products is fuelling the growth of the market for hematology analyzers and reagents.
The lack of preference, which results in a slow rate of adoption of this instrument from developing regions of the world, is a limiting factor for market development. Increased customer fears about these products' safety and efficacy in the context of recent recall by major market players.
With globally rising infections of COVID-19, the apprehension of the lack of vital life-saving equipment and other essential medical supplies to prevent the spread of this pandemic is also widening and providing optimal treatment for the infected. In addition, before pharmacological therapy is established, ventilators serve as a crucial treatment choice for COVID-19 patients who may need critical care. Also, there is an immediate need for rapid acceleration of a wide variety of test kits in the manufacturing process (antibody tests, self-administered, and others). The study will account for COVID-19 as a primary contributor to the industry.
Based on the product & service, the hematology analyzers and reagents market has been classified into hematology products and services, hemostasis products and instruments, and immunohematology products and services.
The hematology product and service segment held the largest market share. The same segment is also expected to dominate the market by 2027, as it has various test volumes that help produce accurate results. In addition, these devices are commonly used in medical laboratories to detect proteins or enzymes and count blood cells to diagnose disease and genetic defects better.
Based on the application, the hematology analyzers and reagents market has been classified int anemia, blood cancer, hemorrhagic condition, infection-related conditions, immune system-related conditions, other applications
The segment of anemia had the largest market share in 2019 and is also expected to dominate the market by 2027. It is a medical disorder in which the patient lacks sufficiently healthy red blood cells to bring enough oxygen to the body's tissues.
Based on the end user, the hematology analyzers and reagents market has been classified into hospital laboratories, commercial service providers, government reference laboratories, and academic and research institutes
The hospital laboratory segment had the highest market share. In addition, the segment is expected to dominate the market during the forecast period as blood collection and analysis instruments are commonly used in hospitals and pathology laboratories. In addition, instruments such as tubes, needles, holders, blood analyzers, and other consumables are used in the hospital for a complete blood check-up. In the laboratory, blood collected/sampled is used for clinical studies.
Based on geography, the study analyzes the hematology analyzers and reagents market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America is held a dominant position in the global hematology analyzers and reagents market in 2019. In North America, the U.S. is expected to represent considerable growth during the forecast period. Factors attributed to the region's development include the rising incidence of patients suffering from blood disorders, the growing prevalence of target diseases, and the increasing demand for blood transfusions. Moreover, Latin America is expected to represent significant growth in terms of value during the forecast period. Growing adoption rates towards automated hematology instruments coupled with increasing preferences towards high sensitivity point-of-care (POC) hematology testing is a factor behind region growth. Additionally, the hematology analyzers and reagents market for Asia Pacific is expected to observe rapid growth over the forecast period, backed by the increasing incidence of hematologic diseases and technological advancement.
The hematology analyzers and reagents market is highly competitive. The key hematology analyzer and reagent players which are contributing to the growth of the global market include Clinical Diagnostic Solutions, Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Danaher, Bio-Rad Laboratories Inc., Abbott Laboratories, Diatron, ERBA Diagnostics Inc., EKF Diagnostics HORIBA Medical, Biosystems S.A., among others. The major players are adopting new product launch and expansion strategies for global growth in the hematology analyzers and reagents market.
The global hematology analyzer and reagent market report would provide access to an approx. 54 market data tables, 56 figures, and 180 pages.