PUBLISHER: The Business Research Company | PRODUCT CODE: 1426205
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426205
Hematology analyzers play a crucial role in providing comprehensive blood analysis, including a complete blood count (CBC) with a three-part differential white blood cell (WBC) count. They possess the capability to detect minute cell populations, aiding in the diagnosis of rare blood conditions and assessing cell morphology.
The primary products within the realm of hematology analyzers and reagents include various instruments and associated reagents: hematology analyzers, hemostasis analyzers, plasma protein analyzers, hemoglobin analyzers, erythrocyte sedimentation rate analyzers, coagulation analyzers, flow cytometers, slide stainers, differential counters, and hematology stains. Hematology analyzers specifically measure hemoglobin concentration in blood samples. These analyzers find applications in various medical conditions such as anemias, blood cancers, hemorrhagic disorders, infections, immune-related conditions, and others. They are utilized by end-users including specialized research institutes, hospitals, specialized diagnostic centers, and other healthcare facilities for a wide range of diagnostic purposes.
The hematology analyzers and reagents market research report is one of a series of new reports from The Business Research Company that provides hematology analyzers and reagents market statistics, including hematology analyzers and reagents industry global market size, regional shares, competitors with a hematology analyzers and reagents market share, detailed hematology analyzers and reagents market segments, market trends and opportunities, and any further data you may need to thrive in the hematology analyzers and reagents industry. This hematology analyzers and reagents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hematology analyzers and reagents market size has grown strongly in recent years. It will grow from $4.56 billion in 2023 to $4.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion observed in the historical period can be linked to several factors, including the rising incidence of chronic diseases, a growing aging population, an increased burden of diseases across various demographics, and the escalating prevalence of infectious diseases. These factors collectively contributed to the growth and demand for hematology analyzers and their applications during that time.
The hematology analyzers and reagents market size is expected to see strongly grown in the next few years. It will grow to $6.12 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The projected growth in the forecast period is expected to be driven by global health concerns prompting increased focus on healthcare diagnostics, augmented investment in the infrastructure for hematology analyzers and reagents, the evolving landscape of personalized medicine, and the expansion of remote monitoring capabilities in healthcare.
The expansion of the hematology analyzers and reagents market is propelled by the increasing global blood donations, driving the demand for these tools essential in blood testing within blood banks. These analyzers play a crucial role in testing and screening donated blood, determining blood types, conducting plasma analysis, and detecting infectious diseases. Blood banks witness a continuous flow of blood both out to hospitals and other end-users and in from blood donation drives. The World Health Organization's data indicating a rise of 7.8 million blood donations from voluntary unpaid donors underscores the escalating demand for hematology analyzers and reagents, aligning with the growing blood donation rates.
Anticipated growth in the prevalence of blood disorders is a key driver for the hematology analyzers and reagents market. These disorders, affecting blood components' normal function, necessitate precise diagnosis and monitoring, tasks facilitated by hematology analyzers and reagents. For example, the American Cancer Society's 2023 statistics in the US revealed approximately 59,610 annual leukemia diagnoses, leading to 23,710 related deaths, with roughly 20,380 new acute myeloid leukemia (AML) cases and 11,310 AML-related fatalities each year. This surge in blood disorders underlines the market's momentum for advanced diagnostic tools.
Manufacturers in the hematology analyzers sector are increasingly directing investments into the development of analyzers integrated with microfluidics technology, enabling reduced sample and reagent volumes. Microfluidics technology, handling liquid flow within micrometer-sized channels, substantially cuts down reagent consumption in these analyzers, thus lowering operational costs. Notable examples include BioSystems' HA5 hematology system utilizing microfluidics, using approximately 75% fewer reagents than standard analyzers, and DiaSys' respons®3H and respons®5H systems, also employing microfluidics and consuming 70% fewer reagents, showcasing the industry's shift towards cost-efficient technologies.
Major players in the hematology analyzers and reagents market are strategically focusing on compact, integrated analyzer development to gain a competitive edge. These systems, offering efficient blood cell analysis in a space-saving format, streamline diagnostic processes. Mindray Bio-Medical Electronics Co. Ltd.'s March 2022 launch of the BC-700 Series, an integrated CBC and ESR hematology analyzer tailored for small-to-mid-sized labs, exemplifies this trend. This compact system merges CBC and ESR analysis, delivering rapid and accurate results within 1.5 minutes, significantly reducing turnaround time compared to traditional ESR tests, catering to the efficiency needs of smaller labs.
In May 2021, Soulbrain, a South Korean chemicals company, completed the acquisition of PixCell Medical for an undisclosed sum. This strategic move aligns with Soulbrain's growth strategy, particularly in expanding its presence within the diagnostics and point-of-care testing sectors. PixCell Medical, an Israeli company, specializes in the development of blood test analyzers, marking a significant addition to Soulbrain's portfolio and ambitions within the field of medical diagnostics.
Major companies operating in the hematology analyzers and reagents market include Abbott Laboratories, Bio-Rad Laboratories, Horiba Ltd., Siemens AG, Sysmex Corporation, BioSystems Diagnostics Pvt. Ltd., Boule Diagnostics, Danaher Corporation, Diatron MI PLC, Drew Scientific, EKF Diagnostics, Mindray, Nihon Kohden, Ortho Clinical Diagnostics, Roche, Beckman Coulter, Bayer AG, Cholestech, Heska, Drucker, Instrumentation Laboratory, Abaxis Inc., Accriva Diagnostics, ACON, Diamond Diagnostics, ERBA Diagnostics, Hycel, Maccura Biotechnology Co. Ltd., Genrui Biotech Inc., A&T Corporation, Beijing Succeeder Technology Inc., Diagnostica Stago SAS
North America was the largest region in the hematology analyzers and reagents market in 2023. Western Europe was the second-largest region in the hematology analyzers and reagents market report. The regions covered in the hematology analyzers and reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the hematology analyzers and reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The hematology analyzers and reagents market consists of sales electrolyte analyzer, hemocoagulometer, enzyme standard instrument, blood gas analyzer and immunoturbidimetry. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hematology Analyzers and Reagents Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hematology analyzers and reagents market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hematology analyzers and reagents? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hematology analyzers and reagents market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.