Hematology analyzers help in the diagnosis of viral infections, anemia, cancer, genetic problems, and diabetes. According to a new report from Zion Market Research, the global hematology analyzers and reagents market that was valued at approximately USD 2.99 billion in 2017 is expected to generate revenue of around USD 5.09 billion by end of 2024, growing at a CAGR of around 7.90% during the forecast period 2018-2024.
Key factors driving the global market for hematology analyzers and reagents are:
- Rising innovation in the field of pharmacogenomics, genetic therapies, bleeding disorders, stem cell research, and proteomics
- Consolidation of diagnostic laboratory chains
- Rising public awareness
- Development of high-end technology, and
- Expansion of high throughput hematology analyzers
This report divides the market on the on the basis of products into instruments, reagents and consumables, and services. The instruments segment is further classified into hematology analyzers, hemostasis analyzers, plasma protein analyzers, coagulation analyzers, and other analyzers. The hematology analyzer segment includes 3-part fully automated units, point-of-care testing systems, 5-part and 6-part fully automated units, and semi-automated models. Owing to the growing demand for these instruments from end users and increasing adoption rate along with the growing demand for highly sensitive hematology testing, the instruments segment is likely to drive the market during the forecast period.
On the basis of application, the market is divided into anemia, blood cancer, hemorrhagic conditions, infection-related conditions, conditions related to immune system, and others. Due to the rising prevalence of sickle cell disease and blood-related disorders, the anemia application segment held the largest share of the market.
End-users of this market include commercial service providers, hospitals, reference laboratories, and research and academic institutes. Of these, hospitals and commercial service providers accounted for a larger market share in 2017 and are anticipated to witness the highest growth rate during the forecast period.
Geographically, North America is expected to be the leading market, followed by Europe. This growth is mainly due to factors such as the high disposable income of the population and rising adoption of automated hematology instruments by most of the hospitals and diagnostics laboratories in these two regions.
Some of the leading players in this market include Abbott Diagnostics, Bio-Rad Laboratories, Drew Scientific, Sysmex Corporation, Siemens AG, Bayer Healthcare, Beckman Coulter, Heska Corporation, Danaher Corporation, and Cholestech Corporation.