Global demand for Hemoglobin Testing Devices Market was valued at approximately USD 3565.44 Million in 2018, and is expected to generate revenue of around USD 5095.63 Million by end of 2025, growing at a CAGR of around 5.32% between 2018 and 2025.
The report covers forecast and analysis for the Hemoglobin Testing Devices market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Hemoglobin Testing Devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Hemoglobin Testing Devices market on a global level. In order to give the users of this report a comprehensive view on the Hemoglobin Testing Devices market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein operating type, product, end user, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Hemoglobin Testing Devices Market was valued at approximately USD 3565.44 Million in 2018, and is expected to generate revenue of around USD 5095.63 Million by end of 2025, growing at a CAGR of around 5.32% between 2018 and 2025.
Hemoglobin is a vital general health marker. The calculation is an important tool for diagnosing diseases such as anemia, jaundice, etc. The hemoglobin test system is an instrument used by spectrophotometric measurement technique to determine the blood hemoglobin content. Currently, however, the photometric methods used in the hemoglobin test systems are user-friendly and mitigate pain to blood donor and minimize the risk of infection. In hematology, the point-of-care (POC) test gained steady growth in very short time. Rapid technological development and international take-up have resulted in several hemoglobin testing tools rising and expanding. Now a day test systems for hemoglobin are non-invasive and efficient compared to the traditional process, which can produce results within 30 seconds. There are many newly launched hemoglobin screening systems that also operate on the very least sample of blood and pocket friendly. The man's goal behind the development of the hemoglobin testing devices engineering is to deliver the exact results in a short time.
The study provides a decisive view on the Hemoglobin Testing Devices market by segmenting the market based on Operating Type, Product, End user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on Operating Type, the market is segmented into automatic and semi-automatic. Automatic hemoglobin testing devices, due to rapid results and accuracy in hemoglobin measurement, expected to gain a good market share compared to the semi-automatic. Based on the Product segment, the market is bifurcated into Bench-top, Handheld and Others. The handheld device, due to the user-friendly nature of the system and cost-effectiveness, is expected to show more market share for the hemoglobin test systems market compared to the bench top system.
Based on the End user segment, the market is bifurcated into Hospitals, Diagnostic laboratories, Home care and others. Hospitals may share the favorable growth over the forecast period, as the number of people visiting the hospital for the diagnosis of different types of disease, so for proper disease diagnosis doctors mostly refer to the hemoglobin count before treatment begins. Diagnostic laboratories that show the second dominant market for hemoglobin test systems since diagnostic laboratories expected to improve the demand for hemoglobin test systems in the coming years due to the introduction of new diagnostic technologies and notable development in the market for hemoglobin test systems.
The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America, due to the high number of blood bank faculties and diagnostic centers with good set-up, is the most lucrative market for hemoglobin testing devices. Due to the increasing consciousness of people about blood-related problems and increasing demand for novel diagnostic tools in hospitals and diagnostic laboratories, Europe's area expected to show increased demand for the market for hemoglobin testing devices. Asia-Pacific is the fastest growing area on the market for hemoglobin testing devices due to a ringing investment in research and development in counties such as India, China, and Japan by local medical device companies. Latin America and the Middle East Africa region are the least lucrative market for hemoglobin testing devices due to lack of awareness and inadequacy of serious blood-related complications among the population.
Increasing the prevalence of blood disorders and the emergence of advanced and sophisticated technologies are expected to fuel the growth of the demand for hemoglobin testing devices. Demand for hemoglobin screening systems is expected to increase over the forecast period due to the ability to produce reliable and accurate results, which helps physicians deliver proper disease treatment. In addition, the awareness of the blood testing program and the blood donation camps expected to drive hemoglobin testing devices market growth in the coming days will be increased. Sampling error during user blood testing and shorter life span along with reduced test system sensitivity, increased kit reagent costs could limit the demand for hemoglobin testing devices. Regional government initiative to control anemia in developing countries such as India, Venezuela, and Vietnam, such a variable could drive the future growth of the market for hemoglobin testing devices.
Key players within global Hemoglobin Testing Devices market include Abbott Laboratories, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., HemoCue India, Mindray Medical International Limited, Nihon Kohden Corporation, Roche Diagnostics, Siemens Healthineers, and Sysmex Corporation amongst others.
The report segments global Hemoglobin Testing Devices market as follows:
Global Hemoglobin Testing Devices Market: Operating Type Segment Analysis
Global Hemoglobin Testing Devices Market: Product Segment Analysis
Global Hemoglobin Testing Devices Market: End user Segment Analysis
Global Hemoglobin Testing Devices Market: Regional Segment Analysis