During the forecast period of 2023-2035, the global hematology analyzers market is expected to reach an estimated value of ~USD 4000 million by 2035, by expanding at a CAGR of ~7%. The market further generated revenue of ~USD 2000 million in the year 2022. Major key factors propelling the growth of the hematology analyzers market worldwide are the expanding blood donation rates and the increasing prevalence of blood disorders.
Market Definition of Hematology Analyzers
Hematology analyzers are highly technical equipment that determines the number of red and white blood cells, platelets, hemoglobin, and hematocrit levels in a patient's blood. Many hematologic illnesses can be defined by particular outcomes from blood tests. Anemia, diabetes, autoimmune deficiencies, infections, and cancer can all be detected through blood sampling. It can also reveal genetic data, bacteria, and cell deficiencies. These analyzers can be as simple as a portable unit, as advanced as a point-of-care diagnostic device, or as complicated as a medical laboratory analyzer.
Global Hematology Analyzers Market: Growth Drivers
The growth of the global hematology analyzers market can largely be attributed to the growing prevalence of blood disorders, along with the diagnostic industry's increased use of hematology analyzers. For instance, anemia, a common disorder, affects over three million Americans, primarily women of childbearing age.
Hemophilia A affects 1 in every 5000 male births, based on a 2020 report from the Centers for Disease Control and Prevention (CDC). Every year, approximately 400 babies are born with hemophilia A.
National health expenditure is estimated to be USD 6,192.5 billion in 2028, with per capita consumption reaching USD 17,611 in the same year.
The global hematology analyzers market is also estimated to grow mainly on account of the following:
- The global hematology analyzers market is also estimated to grow mainly on account of the following:
- Increase in Blood Donation
- Expanding Technological Breakthroughs in Hematology Analyzers
Global Hematology Analyzers Market: Restraining Factor
The high cost of hematology analyzers owed to advanced components and robotization may stymie overall growth. Furthermore, strict regulatory policies for hematology analyzers are predicted to stiffe market growth. Hence these factors are expected to be the major hindrance to the growth of the global hematology analyzers market during the forecast period.
Global Hematology Analyzers Market Segmentation
The segment of 3-part hematology analyzers is expected to take the largest share by the end of 2035. As a result, 3-part hematology analyzers deliver sufficient data for most medical settings and are very cost-effective. Transasia Bio-Medicals Ltd introduced the 3-Part Differential (3PD) of completely automated hematology analyzers, solvents, and controls in India in March 2019, built by Erba Lachema, Transasia's directly owned European subsidiary.
The North American hematology analyzers market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions owing to the region's rising prevalence of blood disorders. Based on the World Health Organization, anemia, a common blood ailment, impacts over three million Americans, primarily teenage women. There are a number of affiliations in the United States that assist both healthcare professionals and researchers all over the world who are operating to conquer such illnesses. Furthermore, the diagnostic industry's rising application of hematology analyzers, along with the region's burgeoning technological developments in diagnostic devices, are expected to drive the market's growth in the coming years.
The market research report on global hematology analyzers also includes the market size, market revenue, YoY growth, and key player analysis applicable for the market in North America (US, and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Hematology Analyzers Market
Some of the key players of the global hematology analyzers market are Sysmex Corporation, Abbott Laboratories, Beckman Coulter, HORIBA Ltd, Siemens AG, Nihon Kohden Corporation, Bio-Rad Laboratories, Mindray Medical International Ltd., Roche Diagnostics, Boule Diagnostics AB, and others.