A new market research report released by MarketsandMarkets predicts that the global clinical chemistry analyzer market is set to grow at a CAGR of 5.52% between 2014 and 2019, from a value of $8,965 million in 2014 to $11,728.01 million in 2019.
Clinical chemistry analyzers are among the most widely used laboratory equipment. They are used to perform tests on whole blood, serum, plasma, or urine samples to determine concentrations of analytes such as cholesterol, electrolytes, glucose, and calcium, and to provide certain hematology values such as hemoglobin concentrations and prothrombin times. They are also used for assaying certain therapeutic drugs, which helps to diagnose and treat numerous diseases including diabetes, cancer, HIV, STD, hepatitis, kidney conditions, fertility, and thyroid problems.
The analysis shows that basic metabolic panel tests are the largest test segment for the clinical chemistry analyzer market in 2014. The lipid profile test segment is expected to record the highest CAGR between 2014 and 2019. According to the report, the factors driving the growth of the clinical laboratory product and analyzer market are
- Growth in the basic metabolic panel tests
- Increased awareness about preventive care
- Rising incidence of lifestyle diseases
- Increase in aging population
- Increase in reagent rental agreements
- Growing trend of laboratory automation
The report classifies the market by product such as analyzers by size, reagents, and other items; by test including basic, electrolyte panel, thyroid function, specialty chemicals, etc; and by end users, namely, academic research institutions, diagnostic labs, hospitals, and others.
The geographic segments included are the Americas, Europe, BRIC, Japan and Rest of the World (RoW). The analysis showed that the Americas had the largest share in the global market in 2014, while the demand for automation from the BRIC segment is expected to drive a faster growth in this region from 2014 to 2019.
A combination of approaches was used to calculate the market sizes and growth rates of the global clinical chemistry analyzer market and its various segments. Secondary information was used to determine overall revenues, geographic reach, and product portfolios of the market players. Primary interviews with leading players to corroborate estimates of their clinical chemistry analyzers segment revenues. Primary interviews with key opinion leaders helped determine percentage shares of each subsegment and the relative differences in the growth rates.
Major players in the clinical chemistry analyzer market such as Roche Diagnostics (Switzerland), Beckman Coulter (U.S.) Abbott Diagnostics (U.S.) Siemens AG (Germany), Ortho-Clinical Diagnostics (U.S.), Thermo Fisher Scientific (U.S.) Randox Laboratories Ltd. (U.K.), ElitechGroup (France), Mindray (China), and Horiba (Japan) offer chemistry analyzers for high and low volume clinical laboratories. Based in the U.S., Awareness Technologies Inc. also offers chemistry analyzers that are optimized for quality, speed, dependability, and economy. Several models in the ChemWell and Stat Fax series of chemistry analyzers from Awareness Technologies are designed specifically for the smaller lab environment.