"Hematology diagnostics market to exhibit lucrative growth during the forecast period"
The global hematology diagnostics market is increasing significantly, was valued at US$ 3,167.2 Mn in 2017 and expected to reach US$ 5,288.3 Mn by 2026. Increasing blood donation procedures, rising incidences of blood disorders along with enhanced diagnostics and hematology testing technologies drives the overall hematology diagnostics market growth. New technological evolution in automated hemotology analyzers would also drive the overall market. Additionally, new standardized automated sample collection, data processing, identification & testing, and ordering of new tests among other processes will further spur revenue growth during the forecast period.
Market Synopsis
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"Hematology consumables segment is expected to dominate the global market during the forecast period"
Overall sales of hematology consumables is expanding significantly on a global scale. It is anticipated to continue its dominance during the forecast period. Rising demand for consumables along with diagnosis of blood disorders and other infections will grow prominently. Moreover, increasing volume of diagnostic tests owing to growing awareness and incidence is also driving the market growth. Wide range of reagents & kits, stains, and others in the consumables segment incorporate experts to encounter the dynamic demand. The instruments segment is further distributed into analyzers, flow cytometers, and others. Increased automation which offer noble reliability, sensitivity, specificity, along with higher safety and ease of operation are estimated to be the primary growth factors driving the hematology instruments segment globally.
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"The diagnostic laboratories segment is expected to register higher growth by the end of 2026"
Diagnostic laboratories in the end user segment are predicted to expand at a significant CAGR during the forecast period. The rising number of multispecialty diagnostic centers along with the availability of advanced hematology products are fueling the demand globally. Additionally, automation of diagnostic tools is anticipated to reduce the overall cost of blood testing. The rise in partnership among market players and diagnostic laboratories are factors that are likely to drive the market growth. The adoption of fully automated analyzers along with enhanced prognosis, infectious disease monitoring, diagnosis, and preliminary screening processes will drive the growth in the end user segment.
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"Increasing demand for advanced equipment, and the presence of established players holds North America in dominant position"
North America to contribute maximum revenue share in the global hematology diagnostics market. Factors enhancing the growth in North America include the utilization of advanced technologies for the point of care test, rising incidences for diseases such as blood cancers, acute infectious diseases, liver and spleen diseases.
Asia Pacific is expected to grow at a significant pace owing to new technology expansion and adoption of advanced diagnostic instruments. Enhanced healthcare services along with improved government initiatives will have a positive impact on the hematology diagnostics market.
"Dominance of multinational manufacturers with strong product portfolio in the developed regions"
Major players in the hematology diagnostics market are Abbott Laboratories, Bio-Rad Laboratories, Inc., Siemens Healthineers, Mindray Medical International Limited, Danaher Corporation, Hoffmann-La Roche Ltd., Nihon Kohden Corporation, Drew Scientific, Sysmex Corporation, EKF Diagnostics, Boule Diagnostics, HORIBA, Diatron MI Zrt. and others. Furthermore, new product launch, technology expansion to diagnostic laboratories will drive the market growth in future. Increasing prevalence of blood disorders along with other target diseases and dynamic shift from manual to automated hematology testing, and competitive benefits offered by commercial service providers in the developing nations will further assist the overall development of the market on a global scale.
Historical & Forecast Period
This study report represents analysis for each segment from 2016 to 2026 considering 2017 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2018 to 2026.
Report Scope by Segments
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
Restorative Material Product Type (2016–2026; US$ Mn)
• Hematology Instruments
o Hematology Analyzers
o Flow Cytometers
o Others
• Hematology Consumables
o Reagents
o Stains
o Controls & Calibrators
o Others
|
|
End-user Segment (2016–2026; US$ Mn)
• Diagnostic Laboratories
• Hospitals & Clinics
• Academic and Research Institutions
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (Japan, China, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (GCC, Rest of Middle East & Africa)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall hematology diagnostics market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the hematology diagnostics market and valuable opportunities for emerging players?
- How laboratory automation has affected the dynamics of hematology diagnostics market?
- What is the impact of fully automated analyzers along with its consumption in the developed markets?
- Which segment accounts for the fastest CAGR during the forecast period?
- What is the impact of target diseases and other infectious diseases on the hematology diagnostics market?
- What are the market trends and dynamics in emerging markets such as India, Mexico, China, South Africa, Brazil, and Gulf nations?
