Hematology Analyzer Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Blood Disorders
Hematology Analyzer Market |
The hematology analyzer market consists of various automated
hematology analyzers that are used for blood cell counting and for detecting
abnormalities in samples in healthcare settings. Hematology analyzers are used
for complete blood count test which helps identify conditions like anemia, infection,
cancer, and other blood-related disorders. The market witnesses high demand for
these systems due to rising prevalence of blood disorders like leukemia, blood
cancer, and lymphoma. Hematology analyzers provide reliable and quicker results
as compared to manual methods. Growing focus on early disease diagnosis is also
contributing to market growth.
The global hematology analyzer market is estimated to be
valued at US$ 8.07 billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period
of 2024 to 2031.
Key Takeaways
Key players operating in the hematology analyzer market are Boule Diagnostics
AB, Bio-Rad Laboratories, Danaher Corporation, Sysmex, Horiba Medical, Nihon
Kohden Corporation, Siemens AG, Shenzhen Mindray Bio-Medical Electronics Co.,
Ltd, Abbott, Drew Scientific, Diatron, EKF Diagnostics, F. Hoffmann-La Roche
Ltd, Cormay Diagnostics, AGD Biomedicals, Pioneer Impex, BIOGENIX INC. PVT.
LTD, and Drucker Diagnostics. These players are focusing on new product
launches, mergers, acquisitions, and geographical expansion to gain market
share.
Rising awareness about early disease diagnosis and growing preference for
quality healthcare present huge opportunities for players in the Hematology
Analyzer Market Size. With increasing investment in research &
development and emergence of technologically advanced products, the market is
expected to witness high demand globally over the forecast period.
Some of the major players are focusing on expanding their presence in
developing countries in Asia Pacific and Latin America. This is attributed to
increasing healthcare spending, rising awareness, and growth in healthcare
infrastructure in emerging countries provide lucrative growth opportunities for
players operating in the global hematology analyzer market.
Market drivers:
Growing geriatric population prone to blood disorders is driving the market
growth. Rising prevalence of target diseases like leukemia and lymphoma due to
changing lifestyles is also fueling the sales of hematology analyzers.
Market restraints:
High prices of automated hematology analyzers limit their access and
adoption in price sensitive developing regions. Lack of skilled lab technicians
to operate complex automated hematology analyzers can also hamper the market
growth.
Segment
Analysis
The
consumables segment is dominating the Hematology analyzer market as consumables
are needed on a regular basis for the maintenance and running of these
analyzers. These consumables include reagents, slides, tubes etc. that need to
be replaced periodically during the use of hematology analyzers for ensuring
accurate test results. Being the recurrent expense, the consumable segment
generates continues revenue streams for the manufacturers.
Within consumables, reagents sub segment holds the largest market share as
hematology analyzers depend highly on reagents for performing various blood
tests like complete blood count, blood smear, etc. Reagents kits need to be
replaced after testing specific number of samples bringing consistent sales for
the companies. This sub segment is expected to continue dominating over the
forecast period owing to the recurring nature of purchase of reagents.
Global Analysis
The North America region currently holds the largest share in the global
hematology analyzer market due to presence of advanced healthcare
infrastructure and availability of reimbursement for hematology tests in the
region. Rising prevalence of blood disorders as well as growing geriatric
population undergoing various blood investigations drives the market in North
America. Asia Pacific is expected to witness highest growth during the forecast
period owing to increasing healthcare spending, large patient pool, and growing
awareness about hematology tests in emerging countries like China and India.
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