The report “Hematology Analyzers and Reagents Market by Product (Instrument (PoC, Semi-automated), Reagent, Consumable, Service), Price (High, Mid, Low), Application (Anemia, Blood Cancer), End User (Hospital, CTL, Govt Lab, Blood Bank) – Global Forecast to 2029″, size is expected to grow from an estimated USD 8.8 billion in 2029 to USD 6.6 billion by 2024, at a CAGR of 6.1%.
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- 282 Market Data Tables
- 59 Figures
- 308 Pages and in-depth TOC on “ Hematology Analyzers and Reagents Market – Global Forecast to 2029”
Some of the prominent key players are:
- Sysmex Corporation (Japan),
- Danaher Corporation (US),
- Nihon Kohden Corporation (Japan),
- Siemens Healthineers (Germany),
- Abbott Laboratories (US), and many more……
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Hematology Analyzers and Reagents Market.
Driver: Rising technological advancements
The main driving force for the growth of the hematology analyzers and reagents market is the rise in the advancements of technology. Diagnostic tools, such as hematology analyzers, over the years, have witnessed significant technological advancements, owing to which the market has undergone a tremendous shift from very basic red blood cell counters to very sophisticated automated analyzers. Currently, various hematology analyzer & reagent manufacturers are focusing on developing technologically advanced hematology products that offer faster results and improved turnaround times.
Opportunity: Growth potential of emerging economies
Market growth across emerging countries is further supported by improvements in their healthcare infrastructure and growing healthcare expenditure. Emerging markets (such as China, India, Brazil, and Mexico) are expected to offer significant growth opportunities to hematology analyzer and reagent manufacturers and distributors during the study period. This can be attributed to the growing number of research activities in the field of hematology, the presence of a large patient pool suffering from blood disorders, and the rising focus of key market players on emerging markets. Furthermore, growing awareness and health check-ups, aging population and increase in healthcare spending by individuals and government initiatives (like Ayushman Bharat in India) are posing as market opportunities for the emerging markets.
Market Segmentation: –
- Based on the product and service, over the forecast period of 2024-2029, the hematology products & services segment is to register a significant growth rate. The hematology analyzers and reagents product market is segmented into hematology products & services, immunohematology products & services and hemostasis products & services. Each of the product & service segments further comprises instruments, reagents and consumables and services.
- Based on application, during the forecast period, the air hemorrhagic conditions segment is anticipated to dominate the hematology analyzers and reagents market, holding the largest market share. The segment commands a significant share due to the growing number of hemorrhagic cases, increased awareness and screening of hemorrhagic conditions, and the increasing hematology instruments adoption for the diagnosis of bleeding disorders.
- Based on the usage type, the hematology analyzers and reagents market is divided into standalone analyzers and point-of-care analyzers. In 2024, the standalone analyzers segment is projected to hold the biggest market share throughout the forecast period.
- In 2024, Asia Pacific is expected to register the highest CAGR in the market for hematology analyzers and reagents during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific.
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Recent Developments: –
- In May 2024, HORIBA, Ltd. received the US FDA 510(k) clearance for its Yumizen H2500 high-throughput hematology analyzer.
- In May 2023, Bio-Rad Laboratories, Inc. launched the IH-500 NEXT System, a fully automated system enabling laboratory excellence in immunohematology.
- In August 2023, Roche and Sysmex expanded their partnership to jointly foster sustainable diagnostic solutions. The renewal includes an agreement on hematology solutions for commercial & hospital laboratories, thus complementing the Roche Diagnostics portfolio
The hematology analyzers and reagents market is expected to continue growing due to the increasing demand for accurate and timely diagnostic testing. Advances in technology, automation, and the integration of artificial intelligence are likely to drive innovation in this field. Collaboration between diagnostic companies and healthcare providers will play a significant role in addressing challenges and capitalizing on the opportunities within the hematology analyzers and reagents market.
