Global Hematology Analyzers And Reagents Market Bwc20165

Global Hematology Analyzers and Reagents Market Size by Products & Services (Hematology Analyzers (5 Parts, 6 Parts, 3 Part, PoC, Semi-Automated), Hemostasis, Immunohematology), by Price Range (High, Medium and Low), by Application (Anemia, Blood Cancer, Hemorrhagic Conditions, Infection-Related Conditions, Immune System Related Conditions, and Others), by End-User (Hospital Laboratories, Blood Banks, Commercial Service Providers, Government Reference Laboratories, Research & Academic Institute, and Others), By Region (North America, Europe, the Asia-Pacific, South America, and the Middle-East & Africa)Trend Analysis, Competitive Market Share & Forecast, 2021-2027.

  • Published Date: September 2020
  • Report ID: BWC20165
  • Available Format: PDF
  • Page: 180

Report Overview

The global hematology analyzers and reagents market has reached USD 7.12 billion in 2020. It is further projected to reach USD 11.45 billion by 2027, at a CAGR of 6.8% during the forecast period.

Global Hematology Analyzers and Reagents– Industry Trends & Forecast Report 2027

 

The global hematology analyzers and reagents market has reached USD 7.12 billion in 2020. It is further projected to reach USD 11.45 billion by 2027, at a CAGR of 6.8% during the forecast period. The increasing frequency of blood donation, combined with the high occurrence of blood syndromes, is acting as the major driver of market growth. Improvements and advancements in technology, such as hematology analyzers with flow cytometry instrumentations, are fueling the demand besides driving the market growth.

Source: BlueWeave Consulting

Global Hematology Analyzers and Reagents Overview:

Hematology analyzers and reagents are healthcare products and consumables devised for identifying and counting individual blood cells in an extremely efficient and high-speed method. These instruments have substituted the conventional methods of counting blood cells separately under a microscope that was carried out formerly by the lab technicians. These devices provide more accurate and well-organized results concerning blood cells and other linked information from the blood sample. Hematology analyzers are highly specialized machines used for counting the number of different types of red and white blood cells, blood platelets, hemoglobin, and hematocrit levels in a blood sample. Hematology analyzers have the potential to identify a wide range of conditions such as anemia, diabetes, autoimmune deficiencies, infections, and cancers. It can also expose genetic information, viruses, and organ deficiencies.

Global Hematology Analyzers and Reagents Forecast and Trends

Growth Drivers 

Rising Number of Blood Donations and Blood Banks

The increasing number of blood donations and blood banks worldwide drives the hematology analyzers and reagents market. Blood collected from donors through blood donation booths or bloodmobiles is sent to blood banks where hematology analyzers monitor and test the blood. Such screening tests regulate the blood type, examine the blood plasma, and identify contagious diseases. Blood banks are witnessing massive blood drainage to hospitals and other end-users and inflow of blood from blood aids daily. According to the data released by WHO in November 2020, about 118.4 billion blood donations were collected worldwide. Of these, 40%were collected in high-income countries, home to 16 % of the world’s population. About 13, 300 blood centers in 169 countries report collecting a total of 106 billion donations due to which there is a rise in the growth of global hematology analyzers and reagent market.

Increased Screening of Blood

The growth of this market is driven by the increased screening of blood owing to the pandemic. Hematology Analyzers are used for white blood cell counts, complete blood counts, reticulocyte analysis, and coagulation tests in patients suffering from coronavirus. Globally, over 110 billion people were affected by COVID-19 out of which 61.9 billion people have recovered. Rapid growth in the number of COVID-19 patients is thus driving the hematology analyzers and reagents market.

Restraints

Defective Hematology Analyzers

Product recall is one of the key deterrents to the growth of the market. Manufacturers or developers of hematology analyzers often recall a product as a precautionary measure whenever safety issues or defects that can endanger consumers are identified. A faulty or damaged hematology analyzer may deliver incorrect results and cause misdiagnosis, affecting consumer confidence in the analyzers. Regulatory authorities, therefore, warn healthcare professionals to keep an eye on erroneous diagnostic outcomes generated by these analyzers and to take suitable actions, such as ratifying hematology analyzer’s results with manual scanning or alternative diagnostic testing. These limitations have been hindering growth of the global hematology analyzers and reagent market.

 

Impact of COVID-19 in the industry

The onset of novel coronavirushas affected the global economy besides affecting business operations. Due to high infection rate and adverse impact on public health systems, various countries had to enforced nationwide lockdowns which significantly impacted the manufacturing supply chains, trade, and related services. Industry players are currently considering digital solutions to serve community and provide newfangled opportunities to do business.

Despite the gloomy situation, the pandemic has also generated lucrative opportunities for hematology analyzers and reagents manufactures. The global hematology analyzers and reagent market has been witnessing significant growth with the increase in the number of COVID-19 cases worldwide.

Global Hematology Analyzers and Reagents: By Products & Services

Based on products and services, the hematology analyzers and reagents market is segmented into hemostasis, hematology, and immunohematology. The hematology products & services section accounted for the largest market share in 2020 owing to the  rising acceptance of POC (Point-of-care) testing hematology analyzers in emerging economies. Technologically advanced hematology products, the increasing automation trend, and accessibility to a wide range of services are also driving the market growth.

Global Hematology Analyzers and Reagents: By Price Range

Based on price range, the market is classified into high-end, mid-range, and low-end hematology analyzers. The low-end hematology analyzers segment accounted for the largest share of the global hematology instruments market in 2020 and is likely to dominate the market in the coming years. The minimum price of hematology analyzers and reagent starts from INR 3 lacs and goes up to INR 7 lacs. Due to the high prices of analyzers and reagents, many organizations opt for reasonably priced analyzers, which in turn is driving the adoption of this instrument.

 

 

Global Hematology Analyzers and Reagents: By End-Users

Based on end-users, the hematology products & services market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2020, the commercial service providers segment accounted for the largest share of the market owing to the increasing incidence of leukemia and anemia, shift from manual testing to automated testing, and the competitive benefits such as affordable service costs, efficient turnaround time, and efficient management for sample collection offered by these providers as compared to hospitals

Global Hematology Analyzers and Reagents Market: Regional Insights

The global hematology analyzers and reagents market is segmented into five regions: North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. The market in North America accounts for a significant share in the global hematology analyzers and reagents market in income terms, owing to the growing awareness about blood-related infections, treatments and proper medical infrastructure in the region. Europe's market accounted for the second-highest revenue share in the global hematology analyzers and reagents market, owing to high healthcare expenditure by governments of the countries and high disposable income, followed by markets in theAsia-Pacific, Latin America, and the Middle-East & Africa, respectively.

 

 

 

Competitive landscape

Key Players for Hematology Analyzers and Reagents Market Includes: Sysmex Corporation (Japan), Danaher Corporation (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 (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland), and other prominent players.

The market players compete based on product quality, conformance to standards and performance, andcost-effective manufacturing process, which in turn optimizes the process better production.

 

Recent Development

·         In March 2020, Danaher Corporation announced the completion of its acquisition of the biopharma business from General Electric Company's Life Sciences division. As part of Danaher, the business will be called Cytiva and will be a standalone operating company within Danaher's Life Sciences segment.

·         In February 2021, Sysmex Corporation announced the establishment of a new subsidiary, Sysmex Portugal, S.A. Going forward, Sysmex aims to increase its market presence by enhancing its sales and after-sales support networks in the country.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2019

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina,AUAE, South Africa, Saudi Arabia

Product/Service Segmentation

By products & services, price range,application, end user and region

Key Players

Key Players for Hematology Analyzers and Reagents Market Includes: -Sysmex Corporation (Japan), Danaher Corporation (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 (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland), and other prominent players.

 

 

Scope of the Report

 

By Products & Services

Ø  Hematology Analyzers

Ø  5 Parts

Ø  6 Parts

Ø  3 Part

Ø  PoC

Ø  Semi-Automated

Ø  Hemostasis

Ø  Immunohematology

By Price Range

Ø  High

Ø  Medium

Ø  Low

By Application

Ø  Anemia

Ø  Blood Cancer

Ø  Hemorrhagic Conditions

Ø  Infection-Related Conditions

Ø  Immune System Related Conditions

Ø  Others

By End-User

Ø  Hospital Laboratories

Ø  Blood Banks

Ø  Commercial Service Providers

Ø  Government Reference Laboratories

Ø  Research & Academic Institute

Ø  Others

By Region

Ø  The Asia-Pacific

Ø  North America

Ø  Europe

Ø  The Middle East & Africa

Ø  Latin America