At 7.1% CAGR, Hematology Analyzers and Reagents Market Size to Surpass USD 19.5 Billion by 2028 | Global Industry Trends, Share, Growth, Value, Analysis & Forecast by Zion Market Research
21 Jun 2022
NEW YORK, June 21, 2022 /PRNewswire/ -- As per Zion Market Research study,
The global hematology analyzers and reagents market was worth around USD 8.1 billion in 2021 and is estimated to grow to about USD 19.5 billion by 2028, with a compound annual growth rate (CAGR) of approximately 7.1 percent over the forecast period.
Key Industry Insights & Finding of the Hematology Analyzers and Reagents Market Reports:
As per the analysis shared by our research analyst, the Hematology Analyzers and Reagents Market is expected to grow annually at a CAGR of around
7.1 % (2022-2028).
Through the primary research, it was established that the Hematology Analyzers and Reagents Market was valued approximately
USD
8.1 Billion in 2021 and is projected to reach to roughly
USD
19.5 Billion by 2028.
North America is expected to dominate the global hematology analyzers and reagents market owing to the strong presence of key companies and rising investment to create innovative and more accurate result-generating medical equipment.
Europe is expected to take the lead due to a rise in the number of diagnostic clinics and increased awareness of hematological illnesses in the region.
Rising frequency of hematological illnesses among the patient population, the worldwide hematology analyzers and reagent market opportunity is expected to be greatest in the undeveloped areas of Asia Pacific and Latin America.
Zion Market Research published the latest report titled as
"Hematology Analyzers And Reagents Market By Product Type (Instruments And Reagents), By Application (Hemorrhagic Conditions, Blood Cancers, Anemias Immune System-Related Conditions, Infection-Related Conditions, And Others) By End User (Diagnostic Laboratories, Hospitals & Clinics, Research Institutes, And Others), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Hematology Analyzers and Reagents Market : Overview
Hematology is a field of medicine that deals with the diagnosis, research, treatment, and prevention of blood diseases. Hematology analyzers are equipment that performs tests on blood samples. They're used to do tests like a full blood count, which includes platelet, white, red, and hemoglobin counts, as well as to characterize blood cells to detect a medical condition.
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Hematology Analyzers and Reagents Market : Growth Drivers
Growing incidence of blood disorders is predicted to drive the market growth.
Red blood cell disorders including anemia, bleeding (platelet) disorders, and white blood cell disorders are all characterized by benign blood diseases. Other blood disorders, such as lymphoma, leukemia, and sickle cell anemia can cause chronic sickness or even death. Sickle cell disease, the most prevalent form of a hereditary blood ailment, affects between 70,000 to 100,000 people in the United States. Further, annually, approximately 1.24 million instances of blood cancer are diagnosed globally, accounting for around 6% of all cases of cancer. Owing to such a huge burden of the disease, the need for blood tests is rising, thereby leading to an increase in demand for hematology analyzers and reagents. In addition to this, advantageous reimbursement policies, rise in spending on health, and developing healthcare infrastructure in developing countries are some of the major factors that are fostering the growth of the global hematology analyzers and reagents market. Furthermore, an increase in blood donation & blood transfusion rate is also booming the market.
Hematology Analyzers and Reagents Market : Restraints
High costs associated with the hematology analyzers may hinder the market growth.
Hematology analyzers and reagents are medical products and commodities that are used to identify and count individual blood cells in a time-efficient manner. This equipment has replaced the traditional methods of counting blood cells one by one under a magnification, which was formerly provided by research laboratory professionals. Hematology analyzer reagents are scientific, automatic, rapid, and provide greater accuracy in analysis. Flow cytometry is the most advanced and costly approach currently available. All such factors are likely to impede the growth of the market. In addition to this, hematology analyzers require high maintenance costs which may also hinder the market growth. Moreover, less developed healthcare infrastructure and a dearth of skilled professionals to operate the hematology analyzer are also some of the restraining factors of the market.
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Global Hematology Analyzers and Reagents Market : Opportunities
Advanced technology in the field of medical equipment may generate numerous opportunities for the market growth.
Some of the important factors are increasing usage of automated hematology equipment, growing technical breakthroughs, and integration of fundamental flow-cytometry techniques in advanced hematology analyzers may lead to beneficial opportunities for the growth of the global hematology analyzer & reagent market during the forecast period. Further, the advent of digital imaging systems in hematological laboratories and the use of microfluidics technology in hematology analyzers might offer up new potential for new market players. Furthermore, heavy investments by the big players for new product launches and the presence of strong distribution chains may also drive market growth in the forecast period.
Global Hematology Analyzers and Reagents Market : Challenges
Quality of the hematology analyzers might be a challenge for the market growth.
The phenomenon of a cell count that is too high or too few can also be caused by an automatic blood cell analyzer. Some analyzers, particularly impedance type counters, may not be able to discriminate between nucleated red blood cells and microscopic platelet aggregation since they only assess the size and quantity of particles. Platelet aggregation can be mistaken for red blood cells or white blood cells, and nucleated red blood cells can be mistaken for white blood cells as well. Lymphocytes are particularly sensitive. Atypical cells that are big or unreadable, immature neutrophils, and toxic reactive lymphocytes are also prone to be misclassified. The major threats include incorrect findings, which might lead to therapy delays or improper treatment. Thus, the quality issues of the hematology analyzers may act as a major challenge for the market growth.
Global Hematology Analyzers and Reagents Market : Segmentation
The global hematology analyzers and reagents market is classified into product type, application, end-user, and region.
Based on the product type, the global market is split into reagents and instruments. The application segment consists of hemorrhagic conditions, blood cancers, anemias immune system-related conditions, infection-related conditions, and others. By end-user, the market is bifurcated into research institutes, hospitals & clinics, diagnostic laboratories, and others.
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List of Key Players of Hematology Analyzers and Reagents Market :
Nihon Kohden
Key questions answered in this report:
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Recent Developments
In April 2022, Sysmex Europe, launched the XQ-320, a three-part differential automated hematology analyzer. The XQ-320 is a reliable instrument that requires little sample volume, bench space, or maintenance.
In July 2021, PixCell Medical, a pioneer in point-of-care diagnostics, revealed that it has entered a new distribution deal with Gamidor Diagnostics to market PixCell's hematology analyzer, HemoScreen™, all over Israel.
Regional Dominance:
North America is projected to dominate the market for hematology analyzers and reagents.
North America is expected to dominate the global hematology analyzers and reagents market owing to the strong presence of key companies and rising investment to create innovative and more accurate result-generating medical equipment. Europe is expected to take the lead due to a rise in the number of diagnostic clinics and increased awareness of hematological illnesses in the region. On the other hand, because of the rising frequency of hematological illnesses among the patient population, the worldwide hematology analyzers and reagent market opportunity is expected to be greatest in the undeveloped areas of Asia Pacific and Latin America.
Global Hematology Analyzers and Reagents Market is segmented as follows:
Hematology Analyzers and Reagents Market : By Product Type Outlook (2022-2028)
Instruments
Reagents
Hematology Analyzers and Reagents Market : By Application Outlook (2022-2028)
Hemorrhagic Conditions
Anemias
Immune System Related Conditions
Infection Related Conditions
Others
Hematology Analyzers and Reagents Market : By End Use Outlook (2022-2028)
Diagnostic laboratories
Research institutes
Others
Hematology Analyzers and Reagents Market : By Region Outlook (2022-2028)
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
Press Release For Hematology Analyzers and Reagents Market :
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