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Hematology Analyzers and Reagents Market is Expected to Reach Approximately US$ 13,007.87 in Revenues by 2027-End

Summary

According to The Insight Partners market research study titled “Hematology Analyzers and Reagents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Service, Application, and End User,” the market is expected to reach US$ 13,007.87 million by […]

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According to The Insight Partners market research study titled “Hematology Analyzers and Reagents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Service, Application, and End User,” the market is expected to reach US$ 13,007.87 million by 2027 from US$ 7,252.54 million in 2019. It is estimated to grow at a CAGR of 7.6% from 2020 to 2027. The report highlights the trends prevailing in the global hematology analyzers and reagents market and the factors driving the market along with those that act as deterrents to its growth.

Based on product and service, the global hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest market share. The same segment is also expected to dominate the market by 2027 as it has diverse testing volumes that helps deliver accurate results. Moreover, these instruments are generally used in medical laboratories to detect protein or enzymes, and count blood cells in order to help in the diagnosis of illness and genetic defects.

Increasing incidence of hematologic diseases and technological advancements in hematology analyzers are anticipated to drive the market growth during the forecast period. However, steep prices of high-tier systems are likely to restrain the market growth.

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Company Profiles

  • Clinical Diagnostic Solutions, Inc.
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Danaher
  • BIO-RAD LABORATORIES INC.
  • Abbott
  • Diatron
  • ERBA Diagnostics Inc.
  • EKF Diagnostics
  • HORIBA Medical
  • Biosystems S.A

The COVID-19 pandemic is estimated to have a significant positive impact on the hematology analyzers and reagents market. Majority of the pharmaceutical companies across the world are engaged in the development of vaccines for COVID-19. Moreover, companies are now focusing on the development of the antibody-specific COVID-19 blood tests, which is anticipated to have a positive impact on the other segments of the market in the coming months. However, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.

A few prominent players operating in the hematology analyzers and reagents market are Clinical Diagnostic Solutions, Inc.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Danaher; BIO-RAD LABORATORIES INC.; Abbott; Diatron; ERBA Diagnostics Inc.; EKF Diagnostics; HORIBA Medical; and Biosystems S.A.

Market players are bringing new and innovative products and services to sustain their position in the hematology analyzers and reagents market. For instance, in January 2020, Beckman Coulter launched the DxH 560 AL, a tabletop analyzer geared to reduce the time and resource constraints faced by small to mid-sized laboratories. Such developments are expected to bolster the market growth during the forecast period.

Market Insights

The impact of blood diseases is not necessarily limited to any one part of human body. A few of the common blood diseases include anemia; hemophilia; von Willebrand disease (VWD); and blood cancers such as myeloma, leukemia, and lymphoma. Several blood diseases are hereditary, and the rising prevalence of these diseases boosts demands for blood transfusion as well as blood cell counting for monitoring normalcy, which is further escalating the demand for hematology analyzers and reagents.

Anemia is a common blood disorder, and according to the National Heart, Lung, and Blood Institute, it affects more than 3 million Americans every year. Moreover, according to the World Health Organization (WHO), the disorder affected ~1.62 billion people worldwide in 2018. Anemia is also prevalent in Indian population and affects the quality of life of a remarkable number of people. According to the National Family Health Survey (NFHS) conducted in India in 2018, anemia affected ~58.6% of children and 50.4% of pregnant women in the country in 2016. Further, according to the Centers of Disease Control and Prevention (CDC), hemophilia A affects ~1 in 5,000 male births in the US on an average each year. A CDC survey for 2017 reported that VWD, one of the most common bleeding disorders, affects up to 1% of the general population. During 2012–2016, more than 14,600 men, women, and children were seen at hemophilia treatment centers for treatment of VWD. The increasing incidence of blood-related diseases is augmenting the growth of the hematology analyzers and reagents market.

Technological Advancements in Hematology Analyzers

The players operating in the hematology analyzers and reagents market are highly competitive and have been introducing novel products and reagents. For instance, in May 2020, Beckman Coulter introduced DxH 690T hematology analyzer in the US to streamline workflow as well as minimize the downtime in medium-sized laboratories. Moreover, in August 2020, IDEXX Laboratories, Inc. introduced ProCyte OneHematology Analyzer that helps to deliver workflows with simplicity and consistency at the point of care. The company has also announced its plans for the global rollout of this product by early 2021. In addition, in July 2017, Sysmex launched the XN-L automated hematology analyzers in the US. Later in September 2018, it also launched XS-500ix in the Chinese market; the new product is an automated hematology analyzer of its XS-Series. Furthermore, in September 2020, Agappe Diagnostics, in collaboration with L&T Technology Services Limited, introduced its first indigenously developed hematology analyzer Mispa Count X. The launches of such new products are fueling the growth of the hematology analyzers and reagents market.

Product and Service Insights

Based on product and service, the global hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest market share. The same segment is also expected to dominate the market by 2027 as it has diverse testing volumes that helps deliver accurate results. Moreover, these instruments are generally used in medical laboratories to detect protein or enzymes, and count blood cells in order to help in the diagnosis of illness and genetic defects.

Application Insights

Based on application, the global hematology analyzers and reagents market is segmented into anemia, blood cancer, hemorrhagic conditions, infection related conditions, and immune system related conditions, and other applications. The anemia segment held the largest market share in 2019, and it is also expected to dominate the market by 2027 as it is a medical condition in which the patient lacks enough healthy red blood cells in order to carry adequate oxygen to the tissues of the body.

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End User Insights

In terms of end user, the global hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and academic and research institutes. In 2019, the hospital laboratories segment held the largest market share. Also, the same segment is expected to dominate the market during the forecast period as the blood collection and analysis devices are being frequently used in hospitals and pathology laboratories. Moreover, devices such as tubes, needles, holders, blood analyzers, and other consumables are utilized in the hospital during conduction of complete blood check-ups. In the laboratories, the collected/sampled blood is used for the clinical tests.

Hematology Analyzers and Reagents – Market Segmentation

By Product and Service

  • Hematology Product and Services
    • Instruments
    • Reagents and Consumables
    • Services
  • Hemostasis Product and Services
    • Instruments
    • Reagents and Consumables
    • Services
  • Immunohematology Product and Services
    • Instruments
    • Reagents and Consumables
    • Services

By Application

  • Anemia
  • Blood Cancer
  • Haemorrhagic Conditions
  • Infection Related Conditions
  • Immune System Related Conditions
  • Other Applications

By End User

  • Hospital Laboratories
  • Commercial Service Providers
  • Government Reference Laboratories
  • Research and Academic Institutes

By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East & Africa
  • South America (SCAM)
    • Brazil
    • Argentina
    • Rest of South & Central America

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