Hematology Analyzers & Reagents Market Size, Share, Growth, and Industry Analysis, By Type (3-part hematology Analyzers, 5-part hematology Analyzers and Others), By Application (Internal Medicine, Pediatrics and Oncology), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Hematology Analyzers & Reagents Market REPORT OVERVIEW

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global hematology analyzers & reagents market size was USD 8733.5 million in the year 2022 and market is projected to touch 14792.41 Million by 2031, exhibiting a CAGR of 6.0 % during the forecast period.

Hematology analyzers are commonly used to count and characterize blood cells for illness identification and monitoring in patient and research settings. Basic analyzers provide a three-part differential white blood cell (WBC) count along with a complete blood count (CBC). To identify uncommon blood disorders, sophisticated analyzers can identify small cell populations and evaluate cell morphology. Hematology analyzers primarily employ three physical technologies: electrical impedance, flow cytometry, and fluorescent flow cytometry. To increase the measurable parameters, these are combined with chemical reagents that lyse or modify blood cells.

Due to the rising demand for technologically advanced and complex equipment in hospitals and research institutions, the high-end hematology analyzers sector is anticipated to grow at the highest CAGR during the forecast period. Additionally, the expansion of the low-end hematology analyzers sector is anticipated to be fueled by the rising incidence of blood cancer. Blood cells and plasma are examined using hematology analyzers and reagents. The tests aid in the diagnosis and treatment of conditions like anemia, leukemia, lymphoma, and other cancers.

COVID-19 Impact: Disruption in Supply Networks to Hinder Market Growth

Covid-19 has had a dramatic impact on enterprises, markets, and industries all around the world, but it has been especially pronounced in the medical device industry. Although the pandemic has had a largely negative influence in many industries, the MedTech sector has seen ups and downs during the crisis. PPE (personal protective equipment), ventilators, and testing kits have seen dramatically increasing demand, which has led to shortages of these products, forcing businesses to work tirelessly to keep up with the continuously expanding demands of healthcare practitioners. As other industries come to a halt, those in the business have been forced to uproot much of their typical supply networks, and lockdown protocols around the world have altered how the

LATEST TRENDS

"Demand For Cutting-Edge Diagnostic Tools to Augment Market Growth"

Increased public awareness of blood problems and increased demand worldwide for cutting-edge diagnostic tools. Over the coming few years, it is also anticipated that increasing investments by top healthcare providers in this region will fuel market expansion. However, it is anticipated to grow at a faster rate than other regions over the next few years because to the high unmet demands and rising opportunities in this region.

Hematology Analyzers & Reagents Market SEGMENTATION

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• By Type

Based on type market is classified as3-part hematology Analysers, 5-part hematology Analysers and Others.

• By Application

Based on application market is classified as internal medicine, paediatrics and oncology.

DRIVING FACTORS

"Hospital Segment to Provide Impetus to The Market"

In terms of revenue and share, the hospital segment dominated the world market. This high percentage can be attributed to the rising incidence of blood disorders that call for ongoing observation and care and have led to an increase in the number of installations at hospitals around the world. Over the course of the forecast period, the scientific research institutions category is anticipated to increase more quickly than hospitals. This is because there is a growing need for premium haematology analysers for use in research and development projects. Due to their potential use in treating numerous blood problems, other application segments, like hospitals and clinics, are also expanding quickly.

"Improved Accuracy of the Analysers to Propel Market Growth"

High-end hematology analysers are devices that examine blood for a variety of reasons. Blood illnesses are diagnosed and treated using high-end hematology analysers. They have the newest features and technology, which improves their accuracy and efficiency. Hospitals and academic research centres make use of them. Blood illnesses are diagnosed and treated with low-end haematology analysers. Haematology analysers are among them; these devices check the levels of haemoglobin, white blood cells, red blood cells, and platelets, among other things.

RESTRAINING FACTORS

"Red Cells with Abnormal Forms to Impede Market Growth"

The manual evaluation of a blood smear is labour-intensive and required for flagging a laboratory test result. Red cell morphological comments cannot be produced. Red cells with abnormal forms (like broken cells) cannot be identified. results that have been artificially boosted or lowered owing to outside influences. It is pricey and has substantial operating expenses.

Hematology Analyzers & Reagents Market REGIONAL INSIGHTS

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"North America to Dominate the Market Due to Existence of a Well-Established Healthcare Infrastructure"

By revenue share, North America led the world market. Its huge share can be attributed to a number of factors, including the existence of a well-established healthcare infrastructure, the high adoption rate of cutting-edge diagnostic technology, and the rising prevalence of blood disorders. Additionally, it is anticipated that over the course of the forecast period, an increase in the number of research studies on hematology analysers will fuel regional demand. During the projected period, the global hematology analysers market is anticipated to develop at the quickest rate in Europe. Rising awareness of blood disorders and rising need for cutting-edge diagnostic tools are two major drivers propelling this market in the area.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Sysmex (Japan)
• Mindray (China)
• HORIBA (Japan)
• Nihon Kohden (Japan)
• Sinnowa (China)
• Tecom Science (UAE)
• Perlong (China)
• Mexcom (U.S.)
• Beckman Coulter (U.S.)

REPORT COVERAGE

The report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.