A recent report from Transparency Market Research assesses the growth of the clinical chemistry analyzer market during 2015-2023. According to the report, the growth of the market will be driven by factors such as technological advancements, increase in global number of in-vitro diagnostic tests and increased awareness among the public about health and diagnostic tests.
Clinical chemistry analyzers perform tests to measure and analyze the chemical components in body fluids such as serum, plasma, and urine to evaluate kidney function, liver function, nutritional state and more. Assessing these chemical changes in the body help in the diagnosis, prognosis, and treatment of various diseases.
The Transparency Market Research report lists the factors responsible for the growth of the global clinical chemistry analyzers market as:
- Technological advancements
- Aging population
- Increased public awareness about health
- Increase in global volume of in-vitro diagnostic tests
- Increasing prevalence of chronic diseases and criminal activities
- Increased focus on reduction of healthcare expenditure
- Rising number of point-of-care testing capabilities
However, high cost, need of highly qualified and trained personnel, and risk of result uncertainty are identified as constraints to the growth of the market.
The report categorizes the end users of the market as hospitals, diagnostic laboratories, academic research institutes and others. The types of tests these analyzers can handle are segmented as liver panels, lipid profiles, electrolyte panels, thyroid function panels, renal profiles and basic metabolic panels. The products in the clinical chemistry market include analyzers, chemistry reagents, and other products.
Based on region, North America is the most dominating market and Asia-Pacific region is anticipated to be the highest growing market for the forecast period. Due to market maturity and expansion of the clinical diagnostics segment in the Asian region, the U.S., Europe and Japan, which account for more than 60% share of the market, are expected to witness decline in their market share.
Key players in the market include Beckman Coulter, Nova Biomedical Corporation, Abbott Diagnostics, Siemens AG, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Inc., Sysmex Corporation and more. Many manufacturers are expected to launch new versions of devices to address unmet needs.