The increasing incidence of blood disorders and the growth in blood donation are the major factors driving the growth of the global hematology products market. Furthermore, factors such as technological advancements in hematology analyzers and reagents and integration of flow cytometry techniques with hematology analyzers are expected to support the growth of this market during the forecast period.
The Hematology Analyzers and Reagents Market is projected to reach USD 5.0 billion by 2023 from USD 3.3 billion in 2018, at a CAGR of 8.5% during the forecast period. Factors such as the growth in blood donations, increasing incidence of blood disorder, and technological advancements in hematology analyzers and reagents are driving the growth of the market.
Market Drivers:-
1 Rise in Blood Donation
2 Increasing Incidence of Blood Disorders
3 Technological Advancements
4 Integration of Hematology Analyzers with Flow Cytometry
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The hematology products and services segment is expected to register the highest growth rate during the forecast period
On the basis of products & services, the hematology analyzers and reagents market is classified into hematology, hemostasis, and immunohematology products and services. The hematology products and services segment is projected to grow at the highest growth rate during the forecast period. Factors such as the increasing adoption of POC testing hematology analyzers in emerging economies, launch of technologically advanced hematology products coupled with the increasing preference towards automation, the growing trend of the ‘reagent rental’ business model, and the rising availability of a wide range of services from major hematology providers, are driving the growth of this segment.
The commercial service provider segment accounted for the largest share of the products and services market in 2017
By end user, the hematology products and services market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2017, the commercial service providers segment accounted for the largest share of the market due to the increasing awareness for hematology testing, shift from manual testing to automated testing, and competitive benefits offered by these providers as compared to hospitals (such as affordable service costs, efficient turnaround time, and efficient management for sample collection).
Geographical Analysis:-
The report covers the hematology products and services market across four major geographies, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to command the largest share of the market in 2018, owing to factors such as rising incidence of patients suffering from blood disorders, growing prevalence of target diseases, and rising demand for blood transfusions in the region.
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Key players:-
The major players of hematology products and services marketof the are Sysmex (Japan), Danaher (US), Nihon Kohden (Japan), Siemens (Germany), Abbott (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (US), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland), among others.
