Hematology Analyzers and Reagents Market

Report Description
Table of Contents

Report Description

The global hematology analyzers and reagents market size is estimated to be USD xx billion in 2021 and is expected to witness a CAGR of xx% during the forecast period. High preferences for automated instrumentation is a key driver for the growth of the global hematology analyzers and reagents market. Additionally, advanced technologies available for hematology analysis and growth in the number of blood donations in the hematology analyzers and reagents market are some of the other drivers propelling the market growth. Nevertheless, lack of preference resulting in slow rate of adoption and product recalls are expected to restrain the global market growth.

Global Hematology Analyzers and Reagents Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Product & Service

Based on product & service, the market is segmented into hematology products & services, hemostasis products & services, and immunohematology products & services. In 2021, the hematology products & services segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to increase in the high rate of adoption for POC testing hematology analyzers worldwide. Hemostasis products & services segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increase in initiatives by various public and private organizations in development of technology in the hemostasis products & services market.

By Price Range

Based on price range, the market is categorized into low-end hematology analyzers, high-end hematology analyzers, and mid-range hematology analyzers. In 2021, the low-end hematology analyzers segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the increasing demand and continuous investment in these types of hematology analyzers worldwide. The mid-range hematology analyzers segment is anticipated to grow at a profitable CAGR during the forecast period, due the launch of new products by the major players in the market is the key factors driving the market worldwide.

By End User

Based on end user, the market is categorized into commercial service providers, hospital laboratories, government reference laboratories, and research & academic institutes. In 2021, the commercial service providers segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is due to the growth in cases of anaemia and leukaemia, change from manual testing to automate testing worldwide. The research & academic institutes segment is anticipated to grow at a profitable CAGR during the forecast period, due the occurrence of blood-related disorders such as chronic granulomatous disease, chronic lead poisoning, hereditary spherocytosis, and sickle cell disease.

Regional Insights

In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increasing cases of patients suffering from various blood disorders, growth in target diseases, and rising requirement of blood transfusions in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the growth in government and corporate investment in healthcare sector, less stringent regulations, growing elderly population, and availability of skilled labour forces at economic costs, are the major factors in this region.

Competitor Insights

Some of the key players in the hematology analyzers and reagents market are Sysmex Corporation (Japan); Danaher Corporation (U.S.); Nihon Kohden (Japan); Siemens (Germany); Abbott Laboratories (U.S.); Boule Diagnostics (Sweden); HORIBA (Japan); Bio-Rad Laboratories (U.S.); BioSystems (Spain); and Diatron (Hungary). The leading players operating in the hematology analyzers and reagents 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 hematology analyzers and reagents market report is categorized into the following segments and subsegments: