Hospitals, clinics, and research laboratories use clinical chemistry analyzers to measure the concentration of certain metabolites, electrolytes, proteins, and/or drugs in samples of serum, plasma, urine, cerebrospinal fluid, or other body fluids. According to a recent report from Data Bridge Market Research, the clinical chemistry analyzer market, which accounted to USD 9.2 billion in 2016, is expected to grow at a CAGR of 6.0% during the forecast period 2017-2024.
The report identifies the key factors driving the growth of this market as:
- Rapidly aging population
- Increasing healthcare expenditure
- Increasing prevalence of lifestyle and chronic diseases, such as diabetes
- Increasing use of point of care testing devices
- Increase in laboratory automation
Stringent regulatory policies for medical devices are a key factor that restrains this market's growth.
This report classifies the market on the basis of product type, type of test, end users, and geographic regions. Product type includes analyzers and reagents. Analyzers are further divided into small, medium, large and very large, while the reagents are sub-segmented into calibrators, controls, standards and others reagents. Based on the type of test, the market is divided into liver panels, electrolyte panels, thyroid function panels, lipid profiles, basic metabolic panels and renal profiles.
End-users of this global market include hospitals, diagnostic centers, research institutions, and pharmaceutical and biotechnology companies. Geographically, the report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East and Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America dominated the market.
Some of the key players operating in this market include Abbott Laboratories, Danaher, ThermoFisher Scientific Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson Services Inc., Siemens AG, ELITechGroup, HORIBA, Ltd., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Randox Laboratories Ltd., Ortho Clinical Diagnostics, Nova Biomedical, Sysmex Corporation, BioSystems Diagnostics Pvt. Ltd., DiaSys Diagnostic Systems GmbH, Endress+Hauser Management AG, Diatron, SFRI, EKF and Medica Corporation.