The global Hematology Analyzers and Reagents Market is forecasted to grow at a rate of 7.1% from USD 7.00 billion in 2021 to USD 12.10 Billion in 2030. Hematology is the branch of medicine that includes the study of the cause, treatment, and prevention of diseases related to blood. Hematology analyzers and reagents are mainly used to treat the diseases associated with blood vessels, red blood cells, platelets, white blood cells, bone marrow, and other diseases related to blood.
Increase in the prevalence of diseases related to blood is one major factor driving Hematology Analyzers and Reagents Market. Another major factor boosting the Hematology Analyzers and Reagents Market is the technological advancements of the analyzers and reagents. The increasing number of blood donations all across the world are boosting the Hematology Analyzers and Reagents Market. The blood donation camps or bloodmobile collect the blood from the donors and then deliver them to blood banks. The blood banks use the hematology analyzers and reagents to test the blood and to analyze the blood group and the presence of any infectious diseases.
Request a Sample@ https://www.qyresearchmedical.com/sample/119166
The World Health Organization stated that the blood donations organized by different organizations worldwide increased by 10.5 million between 2009 and 2016. The manufacturers of the hematology analyzers and reagents are investing a lump sum amount in the research and development of the instruments. An increasing number of research and development will help produce analyzers that are more technically advanced and deliver more efficient results. More research is taking place regarding the usage of microfluidics technology in the analyzers as it produces the result by using a lower volume of the sample. The usage of microfluidics technology in the analyzers will help to reduce the operating costs.
The factors hindering the growth of the market are the increasing amount of products being recalled and the high initial set up cost. The manufacturer recalls the products because they may provide wrong results, and consideration of the wrong result by the doctor may lead to misdiagnosis of the patient. Such incidence may lower the confidence of the patient on the analyzers. The regulatory authorities always advise healthcare professionals to remain aware of the inaccurate results and should manually check the scanning to prevent such incidents. High setup costs may act as a barrier in front of the organizations to use the technologically advanced analyzers because the low or middle-income groups will not be able to afford the service and high hospital bills.
On the basis of the product segment, the hematology analyzers and reagents market is classified as Plasma Protein Analyzers, Immunohematology Analyzers, Hemostasis Analyzers, Hemoglobin Analyzers and Hematology Analyzers. The hematology analyzers registered the largest market share of about 30.5% in the Hematology analyzers and reagents Market in 2019 and are expected to experience the highest CAGR over the forecast period. The increasing usage of the hematology device is mainly due to the growing adoption of Point-of-Care technology in the developing economies. The other factors that boost the market are the accessibility of various hematology services from different manufacturers and the rise of technologically advanced hematology products.
End User Outlook:
Based on the end-user segment, the hematology analyzers and reagents market are classified into Research & Academic Institutes, Blood Banks, Hospital laboratories, and Commercial service Providers. The Commercial Service Providers segment registered the highest market share of about 26.6% in the hematology analyzers and reagents market in 2019. It is expected to experience the highest CAGR over the forecast period. The demand for commercial services was mainly due to the increasing prevalence of diseases related to blood, such as anemia, blood cancers (leukemia), Hemorrhagic conditions, and others. The clinical testing laboratories are also experiencing growth over the forecast period.
Based on regions, North America registered the highest growth in the hematology analyzers and reagents market over the forecast period. The main reasons motivating the growth of North America are the increasing number of patients suffering from blood-related diseases, high disposable income, growing demand of blood transfusions, and the adoption of advanced technology-based hematology devices. Following North America, Asia Pacific is also expected to experience growth in the coming years due to the presence of a largely untapped opportunity that the manufacturers still need to explore. The other factors supporting the growth is improving healthcare structure and growing investments by different organizations and manufacturers towards the development of the hematology products.
- The increasing incidence of blood donations arranged by different organizations worldwide is driving the growth of the market. The increasing adoption rates of automated technology and growing preferences towards POC testing are boosting the industry. The hematology devices are used extensively by doctors as they help in analyzing and screening the disease.
- The emergence of the COVID-19 virus has dramatically changed the life on Earth and impacted billions of people. The attack of the virus has revolutionized lifestyles and led to the rapid adoption of many innovative techniques.
- Clinical testing labs are experiencing growth over the forecasting period, mainly due to the increasing prevalence of blood-related diseases such as bone marrow, anemia, chronic granulomatous disease, and others.
- The market in the Asia Pacific region is expected to grow at a CAGR of 7.2% due to the development of the healthcare infrastructure and the growing investments from the manufacturers towards the development of the hematology products.
- Europe is likely to grow at a rate of 6.7% over the forecast period and is expected to experience a growth in the market in the future. The rise in people\’s disposable income and the growing demand for automated hematology devices are driving the growth of the market in that region.
Companies considered and profiled in this market study
Companies like Abbott Laboratories, Roche Diagnostics, Siemens AG, Beckman Coulter, HORIBA Ltd, Nihon Kohden Corporation, Bio-Rad Laboratories, Sysmex Corporation, Boule Diagnostics AB and Mindray Medical International Limited have been profiled in the report. They are the leading manufacturers in the Hematology Analyzers and Reagents Market.
The players operating in the market have undertaken a number of strategies related to the market in the period. The key highlight is:
- In July 2022, Sysmex introduced several automated hematology analyzers in the U.S. such as XN-L, XN-9100, XN-1500, XN-3100, and SP-50.
- In November 2016, Sysmex partnered with the National Health Laboratory. The partnership was created to improve the quality of clinical testing and the technological advancement of hematological products.
The Hematology Analyzers and Reagents Market offers numerous growth opportunities. Thus, a number of startups providing innovative products and technologies have been entering the market.
Acculi labs is a Bangalore based startup that invented a mobile app named Lyfas COVID score, which is used for detection and risk assessment of COVID-19 infected individuals. The Department of Science and Technology has chosen Acculi to develop a COVID risk assessment profile. The app also provides hematology, cardio-respiratory and neurology based parameters which are capable of tracking minute pathophysiological changes in the body.
Mergers and Acquisitions are an integral part of the Hematology Analyzers and Reagents Market. Along with the companies operating in the market, other key market players have also been entering the industry.
- In January 2019, Luminex Corporation acquired EMD Millipore Corporation. The Luminex Corporation acquired the flow cytometry portfolio of EMD Millipore for USD 75 million. The corporation supplies tools for the pharmaceutical and biotechnology industries.
Reports and Data forecast promising developments for increased adoption of innovative techniques in the production of hematology products. According to industrial experts, demand relating to the hematology products will increase. Furthermore, new manufacturers are contemplated to enter the market, which is likely to provide more technologically advanced and inexpensive products. Startups infiltrating the industry would focus on innovating and manufacturing new products through advanced technologies, thereby reducing complexity and lowering the overall total cost of operation. Experts also believe that increase in the adoption of science for research in emerging nations would be a key development area for the industry.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2018 to 2030. The scope of the report can be defined as:
For the purpose of this report, have segmented the global Hematology Analyzers and Reagents Market on the basis of product, price range, end-users, application, and region:
Product Outlook (Revenue, USD Billion; 2022-2030)
- Hematology Analyzers
- Hemostasis Analyzers
- Plasma Protein Analyzers
- Hemoglobin Analyzers
- Immunohematology Analyzers
Price range Outlook (Revenue, USD Billion; 2022-2030)
- High-end Hematology Analyzers
- Mid-range Hematology Analyzers
- Low-end Hematology Analyzers
End Users Outlook (Revenue, USD Billion; 2022-2030)
- Research & Academic Institutes
- Blood Banks
- Hospital laboratories
- Commercial service Providers
Application Outlook (Revenue, USD Billion; 2022-2030)
- Infection Related Conditions
- Blood Cancers
Regional Outlook (Revenue, USD Billion; 2022-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119166/1500
You can place an order or ask any questions, please feel free to contact firstname.lastname@example.org | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us: