Hematology involves the study and treatment of blood. Hematology instruments including hematology analyzers are used in clinical settings and laboratories for testing, counting, analyzing and measuring of red blood cells, platelets, and white blood cells. According to the latest hematology market report from Coherent Market Insights, growing population with the blood related disorders is the major factor driving the growth of hematology market. Other factors that are predicted to boost the growth of this market during the forecast period of 2017-2025 are:
- Adoption of automated instruments by diagnostic laboratories, and
- Some advancements in the research areas such as genetic therapies, stem cell research, proteomics, pharmacogenomics, and bleeding disorders
However, the report notes that the growth of the market could be restricted by factors such as the high cost of hematology instruments, stringent and time consuming regulatory policies for hematology analyzers, and hematology product recalls.
Hematology instruments are seen to be evolving from traditional instruments to semi-automated instruments and advanced fully automated instruments. Based on products, the market is segmented into: hematology analyzers, flow cytometers, cell counters, slide strainers, coagulation analyzers, hematology testing, centrifuges, and hemoglobinometers.
The end users of the market include diagnostic laboratories, hospitals, clinics, and research and development centers. Based on application, the market is divided into infectious diseases, blood screening, diabetes, HIV, cancer, cardiovascular diseases and others.
Geographically, this global market comprises of North America, Latin America, Europe, Africa, Asia Pacific, and The Middle East. Owing to factors such as availability of a large number of diagnostic centers and adoption of highly adopted hematology analyzers by the laboratories, rising population with blood disorders and investments made in research and development, North America holds the largest share in hematology market. With some of the driving factors such as growing patient population, rising demand for technologically advanced medical devices, and rise in a number of advanced clinics, Asia Pacific is also expected to drive the growth in hematology market followed by North America and Europe.
Key business players operating the global hematology market includes Abbott Laboratories, Sysmex Co., Beckman Coulter, Danaher, Mind ray Medical International Limited, Siemens Healthcare, Roche diagnostics, Bio Rad laboratories, and Sigma Aldrich Co. The report notes that companies are trying to expand their product portfolio to grab the maximum share in the market. They are even adopting the merger and acquisition strategy to sustain in the global hematology market.