According to a recent market report from Transparency Market Research, the global market for clinical chemistry analyzers is expected to expand at a healthy growth rate during the forecast period of 2015 to 2023. Technologically advanced and sophisticated clinical chemistry analyzers are highly accurate as well as time efficient. Currently, these analyzers are used in healthcare settings for the analysis of several conditions such as diabetes, hyperlipidemia, and arteriosclerosis along with other regular health check-up.
Several factors that favor the future of the global market for clinical chemistry analyzers are:
- Technological advancements that have led to innovative devices such as StaRRsed Inversa Automated ESR analyzer
- Growing awareness about personal health
- Availability of diagnostic tests among the vast populations across the globe
- Increase in the number of in-vitro diagnostic tests and prevalence of various chronic diseases
- Rising geriatric population
- Increased focus on reduction of healthcare expenditure
- Rising number of point-of-care testing capabilities
- Growing incidence of crime because chemistry analyzers play a pivotal role in the investigations
However, high cost, the requirement of qualified and trained professionals, and risk of result uncertainty are some of the factors that may hinder the growth rate during the forecast period.
The report divides the global market on the basis of test, product, sector, end users, and geography. The test segment includes liver panels, electrolyte panels, thyroid function panels, lipid profiles, basic metabolic panels, and renal profiles. Product-wise, the market is divided into analyzers, reagents, and other products. Based on sector, the global market is divided into mid and small, large, and ultra-large sector clinical chemistry analyzers. End-users of the market are diagnostic laboratories, hospitals, and academic research institutes.
Based on region, North America serves most of the demand for clinical chemistry analyzers due to robust healthcare infrastructure and high affordability of the consumers. However, Asia Pacific is projected for the most robust growth rate as several emerging economies in the region such as China, India, Indonesia, and Malaysia are aggressively investing in the healthcare sector.
The global market is highly fragmented with the presence of several International and domestic players, and new version of devices is expected to determine the leader during the forecast period. Key players are Beckman Coulter, Inc., Siemens AG, Thermo Fisher Scientific, Inc., Nova Biomedical Corporation, Abbott Diagnostics, Elitech Group, Mindray Medical International Limited, Johnson and Johnson, Horiba, Ltd., Sysmex Corporation, and Ortho-Clinical Diagnostics, Inc.