Clinical Chemistry Analyzer Market

Report Description
Table of Contents

Report Description

The global clinical chemistry analyzer market size is estimated to be USD 11.19 billion in 2021 and is expected to witness a CAGR of 4.45% during the forecast period. Rise in global geriatric population along with increase in occurrence of chronic & lifestyle diseases is a key driver for the growth of the global clinical chemistry analyzer market. Additionally, growth in adoption of point-of-care testing devices and increase in demand for laboratory computerization are some of the other drivers propelling the market growth. Nevertheless, capital intensive investments and lack of skilled laboratory technicians and accessibility of refurbished analyzers are expected to restrain the global market growth.

Global Clinical Chemistry Analyzer Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Product

Based on product, the market is segmented into reagents, analyzers, and others. In 2021, the reagents segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This can be attributed to recurring necessity of reagents in huge numbers in comparison to analyzers worldwide. Analyzers segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to the advantages that are predicted to be responsible for inspiring clinicians to use analyzers for precise diagnosis.

By Test

Based on test, the market is segmented into lipid profile, Basic Metabolic Panel (BMP), liver panel, electrolyte panel, renal profile, thyroid function panel, and specialty chemical tests. In 2021, the BMP segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to occurrence of diseases that are lifestyle-induced namely obesity, heart disease, and other metabolic abnormalities worldwide. Electrolyte panel segment is anticipated to grow at a profitable CAGR during the forecast period. This can be attributed to the increasing application of this segment in helping the doctors in monitoring and treating conditions, comprising of heart failure, high blood pressure (hypertension), liver disease, lung diseases, and kidney disease.

By End User

Based on end user, the market is categorized into hospitals, diagnostic laboratories, academic research centers, and others. In 2021, the hospitals segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is due to the high number of patients visiting hospitals, recurrent readmissions, along with huge sample volumes being collected in hospitals worldwide. The diagnostic laboratories segment is anticipated to grow at a profitable CAGR during the forecast period, due to the advantage of conducting wide-ranging number of tests at one location by using clinical chemistry analyzers.

Regional Insights

In 2021, North America hold highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increase in geriatric population, presence of major players in the region, increase in the share of healthcare expenditure in the per capita income, growth in initiatives from the government, accessibility of technologically advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to an increase in subcontracting to manufacture of these analyzers in the region, growing government and corporate investment in healthcare sector, increasing travel tourism in the developing economies, and occurrence of unmapped opportunities.

Competitor Insights

Some of the key players in the clinical chemistry analyzer market are F. Hoffmann-La Roche Ltd. (Switzerland); Danaher Corporation (U.S.); Abbott Laboratories (U.S.); Thermo Fisher Scientific Inc. (U.S.); Siemens AG (Germany); HORIBA Ltd. (Japan); Sysmex Corporation (Japan); HITACHI (Japan); EKF Diagnostics (U.K.); Ortho Clinical Diagnostics (U.S.); ELITech Group (France); Mindray Medical International Ltd. (China); SFRI Medical Diagnostics (France); Trivitron Healthcare Pvt. Ltd. (India); Randox Laboratories Ltd. (U.K.); and Medica Corporation (U.S.). The leading players operating in the clinical chemistry analyzer industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The clinical chemistry analyzer market report is categorized into the following segments and subsegments: