Benchtop Hemoglobin Analyzer Market Size, Share, Growth, and Industry Analysis, By Type (Classic, Digital), By Application (General Hospitals, Specialty Clinics) and Regional Forecast To 2032

Updated On: 29 April 2024

BENCHTOP HEMOGLOBIN ANALYZER MARKET REPORT OVERVIEW

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The global benchtop hemoglobin analyzer market size was USD 718.1 million in 2022 and the market is projected to touch USD 1008.1 Million by 2032, exhibiting a CAGR of 3.4% during the forecast period.

Benchtop Hematology is the study of blood, and benchtop hematology analyzers are used to measure various components of blood, such as red blood cells (RBC), white blood cells (WBC), and platelets. These measurements can help doctors diagnose and treat diseases. Tabletop hematology analyzers are an important part of modern healthcare and their sales represent a significant portion of the medical device market.

Various technological advances such as automation and compactness are the most important factors driving the company's growth. Several companies offer a variety of products that offer increased efficiency and productivity with a simple touch screen and easy-to-use functionality. The aforementioned advantages of laboratory analyzers will contribute to the growth of the market in the future.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

severe disruptions in production and supply chain operations due to various precautionary measures and other restrictions imposed by governments around the world. The global Hba1c testing market is no exception. Additionally, consumer demand has decreased as people are now more focused than ever on eliminating non-essential expenses from their budgets as most people's overall financial situation has been badly affected by the boom. During the forecast period, these factors are likely to influence the growth of the global benchtop hemoglobin analyzer market. The global hemoglobin testing market is expected to recover once these forced shutdowns are lifted by the relevant government agencies. Hemoglobin meter market has been greatly affected by COVID-19 due to availability of diagnostics and rapid spread to contain the virus during this pandemic phase. Governments are exploring the possibility of allowing private laboratories to make blood tests easier. During this phase, the focus was on meeting the needs of patients with COVID-19. Release of the curfew and social distancing in the near future would also lead to an increase in demand.

LATEST TRENDS

Number Of Diabetics Is Increasing Leading Market Expansion

Due to a sedentary lifestyle, obesity and lack of exercise, the number of diabetics in the world is growing at an alarming rate. The demand for HCT blood tests and hemoglobin measurement services is increasing worldwide because the hemoglobin test is a reliable method for determining blood sugar levels. Over the next five years, the market for hemoglobin determination will grow significantly due to the increase in the number of diabetic patients.

BENCHTOP HEMOGLOBIN ANALYZER MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into Classic, Digital.

Classic: A classic hematology analyzer is essentially an instrument that analyzes the number and heterogeneity of blood cells in a given volume. The original blood counters could only count red blood cells (RED) and white blood cells (WBC).

Digital: A digital analyzer is an electronic device that collects and displays multiple digital systems or digital circuit logic signals.

By Application

Based on application the global market can be categorized into General Hospitals, Specialty Clinics.

General Hospitals: General hospitals can be academic health facilities or community-based units. They are general in that they receive all types of medical and surgical cases and focus on patients with acute conditions that require relatively short-term care. The number of beds in community general hospitals varies.

Specialty Clinics: Specialty Clinics is a healthcare institution that offers special services to local, regional and/or national patients. These clinics usually focus on a specific area of ​​medical care, such as orthopedics, cancer, neonatology, cardiology, or another medical specialty.

DRIVING FACTORS

"Increasing Prevalence Of Blood Diseases And Emergence Of Advanced Technologies Fuel The Market Growth"

Increasing prevalence of blood diseases and emergence of advanced technologies are expected to increase the demand for hemoglobin measurement devices. Hemoglobin screening systems are expected to increase in demand during the forecast period due to their ability to provide reliable and accurate results that help doctors provide appropriate treatment for the disease. Additionally, growing awareness about blood testing program and blood donation camps will boost the benchtop hemoglobin analyzer market growth in the coming days.

"Employment In Diagnostic Facilities For Market Expansion Will Fuel Market Growth"

As the need for routine diabetes checks increases, so do the demands for reagents and consumables. benchtop hemoglobin analyzer are often used in diagnostic settings because they provide faster results, enabling earlier initiation of therapy. Diagnostic centers have huge revenue potential because they can control costs by buying lab equipment in bulk. The benchtop hemoglobin analyzer market will benefit from increased adoption of these devices to measure patients and; blood sugar level before surgery.

RESTRAINING FACTORS

"High Costs Related To R&D Expertise And Ignorance Of Underdeveloped Economies Impede Market Growth"

High costs related to R&D expertise, ignorance of underdeveloped economies, limited infrastructure, high O&M costs associated with wearable medical devices and lack of skilled medical professionals and researchers are likely to hamper the market growth. Lack of favorable reimbursement scenarios in emerging economies and availability of affordable treatment options are also projected to challenge the market.

BENCHTOP HEMOGLOBIN ANALYZER MARKET REGIONAL INSIGHTS

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The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America Dominating the Market due to Presence of a Large Consumer Base"

North America dominated the global benchtop hemoglobin analyzer market share in terms of revenue in 2019. The region is expected to maintain its dominant position during the forecast period due to factors such as prevalence of blood diseases, increasing prevalence of advanced technology and established healthcare facilities. In addition, the increase in the number of diagnostic centers and the availability of highly trained doctors also contribute to regional growth.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

The benchtop hemoglobin analyzer market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Bayer (Germany)
• GE Healthcare (U.S.)
• Koninklijke Philips (Netherlands)
• Masimo (U.S.)
• Medtronic (U.S.)
• Nihon Kohden (Japan)
• Siemens (Germany)
• Omron Healthcare (Japan)
• Welch Allyn (U.S.)

INDUSTRIAL DEVELOPMENT

May 2019: Abbott announced the launch of the Afinion 2 analyzer in the United States. The Afinion 2 analyzer is a compact multi-analyte system, high-speed platform that simplifies and standardizes hemoglobin A1c readings in human blood, providing accurate results at the point of care. These strategic initiatives helped the company expand its line of hemoglobin testing devices.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.