Hematology Testing Market Size to Reach Revenues of USD 4,409.22 Million by 2027 - Arizton
CHICAGO, Dec. 2, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global hematology testing market report.
The hematology testing market is expected to grow at a CAGR of over 4.51% during the period 2021−2027.
Key Highlights Offered in the Report:
- Consumable's segment dominated the market and is expected grow with an incremental growth of USD 740 million. Consumables being one time use product, it is one of the important re-occurring revenue generator for the vendors.
- Routine tests dominated the market by test segment. Large increase in the number of geriatric populations is driving the number of routine tests performed. However, the specialty tests in the largely increasing in the developed countries, it is expected to grow at a CAGR of 5.96% in the market.
- Hospital's segment dominated the market, as majority of the routine tests are performed in the healthcare segments. However, with the increase in blood transfusion process, the usage of hematology analyzers in the blood banks have gone high.
- North America dominated the market with largest share due to its developed healthcare infrastructure, increased number of diagnostic centers and increasing number of specialty tests performed are largely driving the region share.
- COVID-19 had a negative impact on the hematology market. Few hematology tests were performed as majority of the labs were filled with COVID-19 diagnostic samples. This majorly limited the volume of hematology tests performed. Many key vendors also postponed their product launches due to this uncertainty in the market.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, analyzer part, analyzer volume, tests, end-user, and geography
- Competitive Landscape – 25 key vendors and 31 other vendors
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Hematology Testing Market – Segmentation
- Hematology consumables are seen as a reoccurring revenue model. Post-purchase of the instrument, companies continue to provide reagents and services. Reagents are needed each time an analyzer is used to measure a patient's blood or other samples. The sale of reagents increases as the number of analyzers installed increases over time.
- The 5&6-part hematology analyzers are widely used in specialty laboratories that require specific parameters to analyze samples. 5&6-part hematology analyzers provide better analysis of samples. Large hospitals, large diagnostic labs, central labs, and public healthcare labs prefer using 5&6-part hematology analyzers.
- Smaller hospitals, physician-owned clinics, private practitioners, solo practitioners, and POC settings usually prefer small & medium volume hematology analyzers. There are smaller & medium diagnostic laboratories across the globe in comparison to large diagnostic centers and major hospitals.
Hematology Testing Market by Products
- Instruments
- Consumables
Hematology Testing Market by Tests
- Routine Tests
- Special Tests
Hematology Testing Market by End-user
- Hospitals
- Standard Reference Laboratories
- Blood Banks
- Others
Hematology Testing Market – Dynamics
There is a huge demand for hematology analyzers in smaller labs, especially in rural settings. In any lab handling hundreds of daily samples, this device should be ideal. The need for immediate diagnostics of patients is increasing. This device eliminates the need to send the samples to central labs, which will take more than two days to obtain the results. The analyzer is able to function with a smaller sample, which is seen as a huge step, especially for hospital satellite facilities, oncology centers, urgent-care centers, and pediatric care centers. The large labs running thousands of tests every day require frequent cleaning of analyzers, calibrations, quality controls, and more. These are eliminated in new technologies that use AI to analyze the samples. This is very cost-effective as it largely reduces the usage of consumables and other steps in calibrating the products. This works on digitalizing the blood samples and storing the test results.
Key Drivers and Trends fueling Market Growth:
- Increase in Demand for Point-of-Care Hematology Testing
- Technological Advancements in Hematology Testing
- Increasing Product Launches
- Integration of Flow Cytometry with Hematology Analyzers
Hematology Testing Market – Geography
North America is one of the replacement markets for hematology analyzers. Many labs and hospitals are equipped with semi-automatic or automatic hematology analyzers. There is a demand for advanced devices in the market. Many labs are looking to upgrade their technology to provide better treatments to patients. In addition, countries in the North American region are facing a huge shortage of laboratory workforce. Increased adoption of telehealth during COVID-19 made people move toward smaller labs. In addition, the growing adoption of automated hematology analyzers and the development of technologically advanced automated analyzers are driving the market. For instance, the automation of hematology diagnostic tests has led to reduced turnaround time and quick diagnosis, thereby accelerating the overall treatment regimen for treating blood-related disorders. Further, the usage of automated hematology analyzers has increased patient safety by analyzing large population samples quickly during epidemics.
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Hematology Testing Market by Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- APAC
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
Major Vendors
- Abbott
- Boule Diagnostics
- Horiba
- Sysmex
- Shenzhen Mindray Bio-Medical Electronics
- Siemens Healthineers
- NIHON KOHDEN
- Diatron
- Danaher
Other Prominent Vendors
- ALPHA SCIENTIFIC
- AGAPPE DIAGNOSTICS
- Analyticon Biotechnologies
- Balio Diagnostics
- B&E BIO-TECHNOLOGY
- Biosystems S.A
- Bioway Biological Technology
- Bio-Rad Laboratories
- CLINDIAG SYSTEMS
- CONTECH MEDICAL SYSTEMS
- Convergent Technologies
- CPC Diagnostics
- CPM Scientifica
- DIAGON
- DIRUI
- Drucker Diagnostics
- Erba Diagnostics
- EDAN Instruments
- Hoffmann-La Roche
- Genrui Biotech
- High Technology
- Shenzhen Landwind Medical
- Linear Chemicals
- Maccura Biotechnology
- Meril Life Sciences
- Norma
- SFRI
- Shenzhen Dymind Biotechnology
- Shenzhen iCubio Biomedical Technologies
- SHENZHEN PROKAN ELECTRONICS
- SPINREACT
- Trivitron Healthcare
Explore our healthcare and lifesciences profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
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