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The Hematology Analyzers And Reagents Market size is estimated to grow by USD 3.91 billion at a CAGR of 6.95% between 2023 and 2028.
There has been an increased adoption of hematology analyzer solutions for smaller and mid-sized laboratories over the years. The main advantage of fully automated laboratory solutions are cost-effective and offer precise results. In addition, automated solutions also save the time of hospitals and clinical laboratories as automation replaces manually intensive tasks, enabling researchers to focus more on analyzing and interpreting results by saving time. Furthermore, automation reduces the chances of human error, thereby improving the productivity of laboratories. Hence, such factors are positively impacting the market.
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In the field of medical diagnostics, various analyzer types are utilized to assess different parameters, often requiring specific reagents categories for accurate results. Hematology instruments play a vital role in analyzing blood samples and diagnosing hematological conditions. These instruments employ various testing methods to provide comprehensive insights into blood composition and function. With diverse application areas ranging from clinical laboratories to research facilities, hematology solutions cater to a wide range of healthcare needs. Across different industry verticals, the adoption of advanced hematology technologies enhances patient care and contributes to advancements in medical science.
The reagents and consumables segment is estimated to witness significant growth during the forecast period. The market comprises distinct product segments, which are essential for the proper functioning and performance of the hematology analyzer. Reagents refer to substances or compounds utilized in chemical reactions to identify, measure, or generate other substances whereas consumables are items that are consumed or exhausted in the analysis process and must be replaced regularly.
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The reagents and consumables segment was the largest segment and was valued at USD 4.51 billion in 2018. Moreover, reagents constitute a very crucial part of the hematology system. In addition, hematology reagents are chemicals intended to perform analyses of the morphology of the blood, its components, and blood-forming tissues. Furthermore, hematology reagents are dedicated reagents used in automated cell counters. In addition, it is used to perform a quantitative and qualitative analysis of the elements of the blood. Hence, such factors are expected to fuel the growth of this segment which in turn drives the market growth during the forecast period.
There is an extensive use of Hematology analyzers in the hospital segment such that they are indispensable diagnostic tools to diagnose and treat blood-related disorders in a timely and accurate manner. In addition, the hospital's market segment includes a broad variety of hospitals, ranging from large tertiary care institutions to community hospitals and specialized clinics. Moreover, hospitals that prioritize patient care such as large tertiary care facilities, often have a specialized hematology department that is equipped with sophisticated analyzers and a team of experts to manage many samples. In addition, to ensure rapid and reliable results, these hospitals require sophisticated, high-quality hematology analyzers that can assist in making critical decisions. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors that is fuelling the market growth in North America is the significant investments in healthcare research and testing in the US. For example, in 2020, according to the Centers for Medicare and Medicaid Services (CMS), US national health expenditure spending grew 2.7% to USD4.3 trillion in 2021, or USD12, 914 per person, and contributed to 18.3 % of the gross domestic product of the US In addition, factors such as the strong distribution network of market in countries such as the US and Canada and the increasing focus of manufacturers on providing a complete hematology solutions portfolio, including automated analyzers, to hospitals and diagnostic centers are fuelling the market growth in North America. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Abbott Laboratories: The company offers hematology analyzers and reagents such as CELL DYN Sapphire, CELL DYN Ruby.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the healthcare sector, continuous technological advancements drive improvements in diagnostic tools and procedures, enhancing diagnostic accuracy and patient outcomes. Amidst evolving healthcare regulations, compliance standards ensure quality care delivery and patient safety. With an aging population and increasing disease prevalence, the demand for accurate diagnostics is more critical than ever. Streamlining laboratory processes improves laboratory efficiency, enabling timely diagnoses and treatments. Embracing cost-effective solutions addresses healthcare affordability challenges, ensuring access to quality services for all.
A key factor shaping the market growth is the increasing use of automated systems in the healthcare sector. Several market players have increased their focus on providing automated hematology analyzers and reagents for small and mid-sized laboratories, as these laboratories still rely on traditional solutions due to the high setup costs of automated hematology analyzers. For example, in 2021, Beckman Coulter Inc., a Danaher Corporation company, launched DxH 560 AL. This is an autoload hematology analyzer for small and midsized laboratories.
Moreover, the products are cost-effective and well-suited for small-sized laboratories. In addition, initially, most of the small and mid-sized laboratories relied on traditional. However, the rise in product availability specific to small and mid-sized laboratories has fuelled the adoption of hematology analyzers among them. Hence, such factors are driving the market trends during the forecast period.
Limited access in rural areas is one of the key challenges hindering the market growth. Rural areas are often characterized by a lack of healthcare services including medical facilities and qualified personnel. Therefore, it has led to a lack of availability and affordability of hematological analyzers and testing reagents, thus impeding the successful diagnosis and management of blood diseases.
Moreover, healthcare access is uneven across any country, and rural areas often lack the infrastructure and resources needed to provide quality medical care. In addition, with limited access to healthcare facilities, patients living in rural areas may not have access to hematological testing and treatments in a timely manner, including equipment and reagents needed for hematological testing. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Hematology analyzers play a vital role in medical sciences by providing accurate and efficient analysis of blood components like red cells, leucocytes (white blood cells), and platelets. They measure crucial parameters like hemoglobin and hematocrit, used in complete blood count (CBC) tests, employing methods like the cyanmethemoglobin method. These analyzers come in modular structures for flexibility and some even utilize flow-cytometry techniques for advanced analysis. The global hematology analyzer market is projected to grow steadily, driven by increasing demand for point-of-care (POC) testing and advancements in technology.
However, the market faces challenges like stringent regulatory policies, the high cost of instruments, and competition from newcomers seeking market share. Despite these challenges, advancements in technology, particularly in flow-cytometry, coupled with the growing need for accurate and timely blood analysis in various settings like research institutes, blood banks, and biopharma companies, are expected to propel the market forward. As the market evolves, manufacturers will need to navigate regulations, ensure high-quality equipment, and prioritize accuracy in results to gain a competitive edge.
The market growth analysis report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Hematology Analyzers and Reagents Market Scope |
|
Market Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.95% |
Market Growth 2024-2028 |
USD 3.91 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.54 |
Regional analysis |
North America, Asia, Europe, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Bio Rad Laboratories Inc., BioSystems SA, Boule Diagnostics AB, Danaher Corp., EKF Diagnostics Holdings Plc, Erba Diagnostics FZ LLC, F. Hoffmann La Roche Ltd., Heska Corp., HORIBA Ltd., Mindray Bio medical Electronics Co. Ltd., NeoMedica, Nihon Kohden Corp., Siemens AG, STRATEC SE, Sysmex Corp., Thermo Fisher Scientific Inc., Toyobo Co. Ltd., URIT Medical Electronic Co. Ltd., and Zoetis Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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