Hematology Analyzer Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Blood Disorders
Hematology Analyzer Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Blood Disorders
The hematology analyzer market consists of various automated hematology analyzers that are used for blood cell counting and for detecting abnormalities in samples in healthcare settings

The hematology analyzer market consists of various automated hematology analyzers that are used for blood cell counting and for detecting abnormalities in samples in healthcare settings. Hematology analyzers are used for complete blood count test which helps identify conditions like anemia, infection, cancer, and other blood-related disorders. The market witnesses high demand for these systems due to rising prevalence of blood disorders like leukemia, blood cancer, and lymphoma. Hematology analyzers provide reliable and quicker results as compared to manual methods. Growing focus on early disease diagnosis is also contributing to market growth.

The global hematology analyzer market is estimated to be valued at US$ 8.07 billion in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the hematology analyzer market are Boule Diagnostics AB, Bio-Rad Laboratories, Danaher Corporation, Sysmex, Horiba Medical, Nihon Kohden Corporation, Siemens AG, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Abbott, Drew Scientific, Diatron, EKF Diagnostics, F. Hoffmann-La Roche Ltd, Cormay Diagnostics, AGD Biomedicals, Pioneer Impex, BIOGENIX INC. PVT. LTD, and Drucker Diagnostics. These players are focusing on new product launches, mergers, acquisitions, and geographical expansion to gain market share.

Rising awareness about early disease diagnosis and growing preference for quality healthcare present huge opportunities for players in the Hematology Analyzer Market Size. With increasing investment in research & development and emergence of technologically advanced products, the market is expected to witness high demand globally over the forecast period.

Some of the major players are focusing on expanding their presence in developing countries in Asia Pacific and Latin America. This is attributed to increasing healthcare spending, rising awareness, and growth in healthcare infrastructure in emerging countries provide lucrative growth opportunities for players operating in the global hematology analyzer market.

Market drivers:
Growing geriatric population prone to blood disorders is driving the market growth. Rising prevalence of target diseases like leukemia and lymphoma due to changing lifestyles is also fueling the sales of hematology analyzers.

Market restraints:
High prices of automated hematology analyzers limit their access and adoption in price sensitive developing regions. Lack of skilled lab technicians to operate complex automated hematology analyzers can also hamper the market growth.

Segment Analysis
The consumables segment is dominating the Hematology analyzer market as consumables are needed on a regular basis for the maintenance and running of these analyzers. These consumables include reagents, slides, tubes etc. that need to be replaced periodically during the use of hematology analyzers for ensuring accurate test results. Being the recurrent expense, the consumable segment generates continues revenue streams for the manufacturers.

Within consumables, reagents sub segment holds the largest market share as hematology analyzers depend highly on reagents for performing various blood tests like complete blood count, blood smear, etc. Reagents kits need to be replaced after testing specific number of samples bringing consistent sales for the companies. This sub segment is expected to continue dominating over the forecast period owing to the recurring nature of purchase of reagents.

Global Analysis
The North America region currently holds the largest share in the global hematology analyzer market due to presence of advanced healthcare infrastructure and availability of reimbursement for hematology tests in the region. Rising prevalence of blood disorders as well as growing geriatric population undergoing various blood investigations drives the market in North America. Asia Pacific is expected to witness highest growth during the forecast period owing to increasing healthcare spending, large patient pool, and growing awareness about hematology tests in emerging countries like China and India.

 

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