Hematology Diagnostics Market Size, Share & Trends Report

Hematology Diagnostics Market Size, Share & Trends Analysis Report By Product (Instrument, Consumables), By Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), And Segment Forecasts, 2018 - 2025

  • Published Date: Dec, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-660-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2016
  • Number of Pages: 98

Industry Insights

The global hematology diagnostics market size was estimated at USD 5.96 billion in 2017. It is anticipated to expand at a CAGR of 5.85% over the forecast period. The factors such as increasing prevalence of blood disorders coupled with increasing awareness about these disorders, and presence of sophisticated & advanced technologies are anticipated to propel the market growth.

According to an article published by Bristol-Myers Squibb, nearly 1 million new cases of blood cancer are expected to be diagnosed by 2020, which is anticipated to account for nearly 6.0% of all new cancer. Furthermore, a significant number of the world population have different hemoglobinopathies. High prevalence of blood disorders, such as thalassemia is anticipated to boost the demand for hematology testing.

Global hematology diagnostics market

Automation is one of the main focus areas for hematology labs. Several laboratories are adopting automation for the post analytical, analytical, and pre-analytical steps to improve efficiency and to standardize the process. Furthermore, automation sample collection, processing, test identification, and test ordering among other processes reduces administrative errors and facilitates reliable test results.

Point-Of-Care (POC) hematology tests are user friendly as they reduce the need for user training along with enabling remote testing. Furthermore, these tests reduce the turnaround time. Rising adoption of these tests is anticipated to fuel the market growth over the forecast period.

Product Insights

Based on product, the hematology testing market is segmented into instruments and consumables. The latter is further divided into reagents, stains, and others. Consumables segmented is anticipated to maintain its dominance over the forecast period. This can be attributed to increased demand for consumables owing to rise in diagnosis of blood disorders and other infections. In addition, increasing test volume owing to rising awareness and early detection is also fueling growth of the segment.

Global hematology diagnostics market share

The instrument segment is further divided into analysers, flow cytometers, and others. Analysers dominated the segment revenue in 2017. Technological advancements and increasing automation are anticipated to be the primary growth drivers for this segment.For instance, the advanced instruments offer good sensitivity, reliability, specificity, ease of operation, and safety. Therefore, such technological advancements are propelling the demand for analyzers.

End-use Insights

Based on end-use, the market for hematology testing is segmented into hospitals, diagnostic labs, and others. Hospital held the dominant end use segment in 2017. Diagnostic labs segment, on the other hand, is anticipated to expand at a rapid pace over the forecast period. Increasing number of diagnostic centers and availability of advanced instruments are anticipated to fuel the demand. Furthermore, automation of diagnostic instruments is projected to reduce the cost of these tests and thus, drive the demand.

Test Type Insights

On the basis of test type, the market for hematology diagnostics is segmented into blood count, platelet function, hemoglobin, and hematocrit. Blood count held the largest market share in terms of revenue in 2017 and is anticipated to expand at a lucrative CAGR over the forecast period. Complete Blood Count (CBC) tests are useful for general evaluation of health during routine check-ups. Several conditions such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests. Abnormal CBC test results prompt other non-hematological confirmatory tests, which may diagnose diseases such as long-term infections, acute infectious diseases, blood cancers, bone marrow and autoimmune disorders, liver and spleen diseases, and other malignancies. Such broad scope of application is anticipated to fuel the market growth.

Regional Insights

In 2017, North America held the leading market share in terms of revenue. Key factors such as constantly increasing geriatric population, favorable reimbursement scenario, sophisticated technological facilities, and introduction of advanced technologies for the POC test can be attributed to this growth.

Asia Pacific is expected to register the fastest CAGR. Rise in per capita income leading to increased adoption of diagnostic and therapy products coupled with government initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.

Hematology Diagnostics Market Share Insights

The global market is highly competitive. Some key industry participants includeBeckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Limited; F. Hoffmann-La Roche Ltd.; and Sysmex Corporation. New product developments, mergers and acquisitions, and collaborations are some of the major strategies adopted by these players to counter the stiff competition.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2015 - 2016

Forecast period

2018 - 2025

Market representation

Revenue in USD Million and CAGR from 2018 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Canada, U.K., Germany, Japan, China, Mexico, Brazil, South Africa, Saudi Arabia

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global hematology diagnostics market report on the basis of product, test type, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Instrument

      • Analyzers

      • Flow Cytometers

      • Others

    • Consumables

      • Reagents

      • Stains

      • Others

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Hospitals

    • Diagnostic Labs

    • Others

  • Test Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Blood count

    • Platelet function

    • Hemoglobin

    • Hematocrit

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

Key questions answered by the report
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