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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. In the healthcare sector, the market for Hematology Analyzers and Reagents has experienced substantial growth among smaller and mid-sized laboratories. This expansion is attributed to the implementation of automated solutions, which offer cost-effective and precise results. By automating labor-intensive tasks, researchers can dedicate their time to data analysis and interpretation. Furthermore, these systems minimize human error, ensuring the delivery of accurate results. The advantages of cost savings, time efficiency, and error reduction are propelling market growth in the healthcare industry. Automation is revolutionizing the hematology analysis process, enabling laboratories to enhance productivity and deliver reliable diagnostic services.
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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 analysis 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, and 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.
The market is pivotal in the healthcare sector, addressing critical aspects of blood analysis and diagnosis. With a focus on blood donations, disorders, and cancers, hematology analyzers play a crucial role in assessing hemostasis, immunohematology, and hematocrit levels. Cutting-edge technologies like Plasma Protein Analyzer and Flow Cytometers enhance precision and efficiency in analyzing hemoglobin, white blood cells (WBC), and C-reactive protein (CRP) levels. Automated hematology analyzer streamlines processes in blood banks, detecting infections and abnormalities with accuracy. As blood-related conditions continue to pose significant health challenges, the demand for advanced hematology parameters and analyzers remains robust, driving innovation and research in the field of immunohematology and blood cancer diagnostics.
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 market forecast period.
Limited access in rural areas is one of the key challenges hindering 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
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market is crucial for diagnosing and managing various blood disorders, including leukemia, anemia, and hemorrhagic conditions. Hematology providers, including hospital laboratories and commercial service providers, rely on advanced technologies such as flow cytometry instrumentations to analyze blood components like red and white blood cells, platelets, and detect blood cancers and infections. Integration of high-throughput analyzing instruments and point-of-care test instruments ensures safety and accuracy in diagnosis within the health care sector. Government reference laboratories play a key role in setting standards for hematology testing, while laboratory technicians utilize magnifiers and semi-automated hematology analyzer for efficient analysis. Reagent and consumables for coagulation testing Analyzer or Coagulation Analyzer, along with control and calibration processes, are essential for ensuring reliable results, facilitating critical procedures like blood transfusions, and contributing to patient care.
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 technology and in medical science.
In addition, advanced technologies like high throughput analyzing instruments enable rapid analysis of blood components such as blood platelets, aiding in the detection of infections in the blood. The adoption rate of these innovative instruments are increasing, driven by the need for accurate diagnosis and treatment. In addition to infection-related conditions, hematology analyzers also assist in identifying immune system related conditions, contributing to better patient care. Semi-automated hematology analyzers, along with magnifier adoption, are utilized by healthcare professionals for precise analysis, ensuring reliable results. Furthermore, the market offers a range of healthcare products, including reagents and consumables, to support critical procedures like blood donation and enhance patient outcomes.
Market Scope |
|
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 |
USD Fragmented |
YoY growth 2023-2024(%) |
6.54 |
Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, Germany, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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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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