Chemistry analyzers are used to test whole blood, serum, plasma and other samples for the detection of analyte concentrations, diagnose disease, assess metabolic function, and detect the presence of drugs. According to the report from Credence Research, the clinical chemistry market is expected to grow at a CAGR of 5.1% during 2017-2025. The market is majorly influenced by increasing incidence of infectious disease and growing prevalence of lifestyle diseases such as diabetes and cardiovascular disorders.
The key factors driving the overall growth of the clinical chemistry market are:
- growing geriatric population
- healthcare initiatives from government as well as public and private healthcare facilities
- health screening programme and
- routine health check-ups
The use of automated clinical chemistry is on rise due to benefits such as reduction in workload, increase in turnaround time, faster and accurate results, and improved reproducibility. Growing healthcare infrastructure facilities, implementation of advanced technology, and increasing use of automation are anticipated to create more opportunities for the clinical chemistry market. However, the high cost of devices and requirements of skilled professionals might pose some challenges on the smooth growth of the clinical chemistry market, according to the report.
The market comprises two product categories - analyzers and reagents. Analyzers are segmented into fully-automated analyzers, semi-automated analyzers, and accessories. Reagents include calibrators, standard, controls and other reagents. Based on the clinical chemistry application, the market is classified into: basic metabolite panel, electrolyte panel, liver function test, lipid profile, kidney function test, thyroid profile, specialty chemical test and other biochemical tests.
Geographically, market is divided into five principal areas - North America, Europe, Asia Pacific, Latin America Middle East and Africa, Middle East and Africa. Owing to factors such as emerging economy, developing healthcare infrastructure and rising health awareness, Asia Pacific is expected to witness significant growth.
The dominant players inthe market include ELITechGroup, Roche Diagnostics International Ltd., Beckman Coulter, Inc., Thermo Fisher Scientific, Alfa Wassermann, Abbott, HORIBA, Ltd., EKF Diagnostics, Medica Corporation, Siemens Medical Solutions USA, Inc., Randox Laboratories Ltd And more.