Hematology Analyzers and Reagents Market - Global Industry Analysis

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

Published Date: 19-Apr-2022 Category: Medical Device Report Format : PDF Pages: 190 Report Code: ZMR-3324 Status : Published

The global hematology analyzers and reagents market Size 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.

Description

Industry Prospective:

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. The report analyzes the hematology analyzers and reagents market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hematology analyzers and reagents market.

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.

Global Hematology Analyzers and Reagents Market

COVID-19 Impact:

The COVID-19 pandemic had a substantial influence on the hematology industry, since there is a growing emphasis on hematology parameters for COVID-19 evaluation throughout the world, and many hospitals have begun adopting tools like hematology analyzers to monitor and test COVID-19 patients. The increasing necessity of hematological testing in COVID-19-infected patients is predicted to drive up demand for hematology products and reagents among various end-users, boosting the market's growth during the pandemic period as well as post-pandemic period.

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 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.

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.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

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.

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.

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.
  • In January 2021, Roche has renewed a long-standing collaboration with Sysmex to market Sysmex hematological diagnostic products, including instruments and reagents, under a new worldwide commercial partnership agreement.

Hematology Analyzers and Reagents Market: Regional Landscape

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.

Hematology Analyzers and Reagents Market: Competitive Landscape

The major players operating in the global hematology analyzers and reagents market include Abbott, Siemens, Nihon Kohden, Danaher Corporation, Sysmex Corporation, Roche, BioSystems, Bio-Rad Laboratories, HORIBA, and Boule Diagnostics among others.

Global Hematology analyzers and reagents market is segmented as follows:

By Product Type

  • Instruments
  • Reagents

By Application

  • Hemorrhagic Conditions
  • Blood Cancers
  • Anemias
  • Immune System Related Conditions
  • Infection Related Conditions
  • Others

By End User

  • Diagnostic laboratories
  • Hospitals & Clinics
  • Research institutes
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • 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

Table Of Content

Methodology

Free Analysis

Hematology is a branch of science which deals with the study of disorders related to blood. It also deals with the liquid portion of blood called plasma. Whereas, hematology analyzers are highly specialized instruments which are used to count the number of platelets, red blood cells, and white blood cells. These analyzers are made up of multiple analytical modules which have a unique sample preparation process. These instruments assist in the diagnosis of multiple diseases like anemia, infections, genetic problems, viruses, cancer, and diabetes. The complexity of the instrument varies with the level of automation, type of test, and as per the requirement of computer connectivity.

Recently, new developments like VCS i.e. volume, conductivity, and scatter technology many new types of automated hematology analyzers and reagents are introduced in the market. The integration of modern hematology analyzers and flow-cytometry, rising adoption rate, and automation of analyzers due to technological advancements are some of the key factors driving the growth of hematology analyzers and reagents market over the forecast period. Moreover, the emerging economies are rapidly adopting the automated hematology analyzers, which have further increased the demand for hematology analyzers in the market. However, factors such as stringent regulatory environment and high initial cost of instrument setup are hindering the hematology analyzers and reagents market growth.

Global Hematology Analyzers and Reagents Market

The market for hematology analyzers and reagents is segmented based on product type, application type, and by end-user. Based on product type, the market is segmented into instruments, reagents and consumables, and services. The instruments segment is further divided into hematology analyzers, hemostasis analyzers, plasma protein analyzers, coagulation analyzers, and other analyzers. The hematology analyzers are further fragmented into point-of-care testing hematology analyzers, 3-part fully automated hematology analyzers, 5-part and 6-part fully automated hematology analyzers, and semi-automated hematology analyzers. Based on applications, the market is segmented into anemia, blood cancer, hemorrhagic conditions, infection-related conditions, conditions related to the immune system, and others. The end-user segment is divided into commercial service providers, hospitals, reference laboratories, and research and academic institutes.

North America held the largest share in the hematology analyzers and reagents market followed by Europe. The growth in these two regions is mainly attributed to the rising adoption of automated hematology instruments by most of the laboratories and high disposable income of the population in these regions. However, the Asia Pacific is also anticipated to be the fastest growing market in the forecast period owing to the rising government funding for the development of hematology products and the developing healthcare infrastructure in this region. Also, large patient population base and rising awareness about better healthcare are also driving the market growth of hematology analyzers & reagents in the Asia Pacific.

Some of the leading players in hematology analyzers and reagents market include Abbott Diagnostics, Bio-Rad Laboratories, Drew Scientific, Sysmex Corporation, Siemens AG, Bayer Healthcare, Beckman Coulter, Heska Corporation, Danaher Corporation, and Cholestech Corporation.

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FrequentlyAsked Questions

Growing incidence of blood disorders is predicted to drive market growth. 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.

According to the Zion Market Research report, the global hematology analyzers and reagents market was worth about 8.1 (USD billion) in 2021 and is predicted to grow to around 19.5 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 7.1 percent.

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.

The major players operating in the global hematology analyzers and reagents market include Abbott, Siemens, Nihon Kohden, Danaher Corporation, Sysmex Corporation, Roche, BioSystems, Bio-Rad Laboratories, HORIBA, and Boule Diagnostics among others.

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