The global hematology analyzers market is anticipated to grow at a considerable pace over the forecast period owing to the innovations in various areas such as genetic therapies, pharmacogenomics, bleeding disorders, hemoglobinopathies, stem cell research, and proteomics. Likewise, factors such as the rise in public awareness and the consolidation of diagnostic laboratory chains have been driving the growth of the global hematology market, and the trend is expected to continue over the forecast period.
Rising adoption rates of automated hematology instruments combined with growing preferences towards high sensitivity hematology testing are anticipated to drive the global market over the forecast period. Moreover, increasing technological development such as the expansion of high throughput hematology analyzers and the introduction of basic cytometry techniques analyzers have been propelling industry growth and the trend is expected to continue over the next seven years.
However, intense competition among existing players and the high cost of hematology analyzers are supposed to restrain industry growth over the next seven years. Also, time-consuming and stringent regulatory policies for hematology instruments are projected to hamper market growth over the forecast period.
Hematology analyzers are made up of several analytical modules with distinctive sample preparation procedures. They assist in the diagnosis of numerous diseases such as viruses, anemia, infections, cancer, genetic problems, and diabetes. It also controls plasma drug level for both illicit drugs and therapeutic drugs. Research institutions, hospitals, and clinical testing laboratories are few of the users of hematology analyzers. Analyzers are specialized computers, which determine the different types of cellular elements, and its presence and count in the blood samples. All the stated process helps in screening and analyzing the diseases hence are widely used by physicians and doctors globally. This factor is expected to have a positive impact on the industry over the next seven years.
The hematology analyzer market is segmented into products and services. By products, hematology analyzers are divided into consumables and instruments. The hematology instruments market is further bifurcated into slide strainers and analyzers, while, the hematology consumables market has been segmented into three major sections namely; controls & calibrators, stains, and regents. Among all, a stain is most attractive compared to the other hematology consumables segments, owing to their extensive use by lab technicians or doctors to separate white blood cells from the blood.
Based on the end-users, the hematology analyzers market has been segmented into stand-alone hospitals, clinical testing labs, research institutes, and commercial organizations, while clinical testing labs held the maximum market share in the recent past. By automation, the hematology market is segmented into semi-automated hematology analyzers and fully automated hematology analyzer.
Factors attributing towards the dominance of clinical testing labs division are chronic lead poisoning and sickle cell disease, increasing the prevalence of blood-related disorders such as hereditary spherocytosis, cytochemistries on blood and bone marrow, identification of abnormal hemoglobin’s, and chronic granulomatous disease.
Geographically the global hematology market is segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East and Asia. North America dominated the market on revenue share in the recent past owing to the high disposable income and implementation of automated hematology instruments by diagnostic laboratories. Asia Pacific is anticipated to witness maximum growth over the forecast period due to the presence of untapped opportunity mainly in the developing economies of China and India. Moreover, growing awareness regarding better health care facilities, rising occurrences of diseases and increasing population in various countries has been fueling the growth of the hematology analyzer market, and the trend is expected to continue over the next seven years.
Key market players in the hematology analyzer market include Abbott Laboratories, Beckman Coulter, HORIBA Ltd, Siemens AG, Sysmex Corporation, Nihon Kohden Corporation, Bio-Rad Laboratories, Bio-Rad Laboratories, Mindray Medical International Ltd., Roche Diagnostics, and Boule Diagnostics AB.
Beckman Coulter, Inc. held the top position in the hematology analyzers market in recent past. The company has an extensive product portfolio with radical technological based products in the field of hematology analyzers. Beckman Coulter’s clients include pharmaceutical and biotechnology companies, research institutions, medical schools and universities. More than 250,000 Beckman Coulter systems operate in both diagnostics and life sciences laboratories across regions including Americas, Asia Pacific, MEA, and Europe.
The Large client base of Beckman Coulter, Inc. along with its numerous product portfolio plays a vital role in its high positioning in hematology market. Over the past years, the company’s major focus has been on innovative product developments, strategic partnerships as its key business strategies, and new product launches, to increase its share globally.
The market players are majorly focused on developing innovative technologies to meet the necessities of users. Several companies are also involved in numerous merger & acquisitions as their key strategy to maintain substantial market share. These factors are expected to have a positive impact on industry growth over the next seven years.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.