Growing incidence of blood disorders is driving the sales of Hematology Diagnostics Market | insightSLICE
The revenue of the global market for Hematology diagnostics was estimated to be US$ 6.5 billion in 2021 and to increase at a CAGR of 6.1% through 2032.
The examination of blood, inflammatory diseases, and blood-forming systems is known as hematology. Certain hemorrhage disorders, including hemophilia, thrombosis, and hematological malignancies, are diagnosed by the use of hematology techniques.
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Blood disorders’ causes, symptoms, and treatments are studied by technicians called hematologists. Hematology is a specialty of medicine that focuses on illnesses and malignancies of the blood and the organs that are connected to it.
The key players of the Global Hematology diagnostics Market are:
Major players active in the global hematology diagnostics market which are also covered in our market report include Abbott Laboratories, Danaher, Siemens, Nihon Kohden, Diatron, Boule Diagnostics, HORIBA, Sysmex, Ortho Clinical Diagnostics, BioSystems, Bio-Rad Laboratories, Drew Scientific, Mindray, EKF Diagnostics, Roche and others.
Driving factors for the growth of Global Hematology diagnostics Market
Through 2031, an increase in hematological diagnostics, an increase in blood donations, a rise in the incidence of hereditary defects, an increase in the senior individuals, adoption of advanced technologies, emergence in the use of automated hematology analysis tools, and an increase in blood cancer cases are expected to drive demand for hematology diagnosis and treatment.
Due to the rapid advancement of technology in the healthcare sector, automation is also projected to be a significant trend in the market for hematological diagnostics.
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As healthcare automation rises in medical labs and hospitals, the usage of automated blood analyzers is also anticipated to rise. Because of the increasing demands and acceptance in the worldwide market scenario, hematology testing companies are expected to concentrate on creating improved automated solutions.
Impact of Covid-19 on market growth:
The global covid-19 pandemic has resulted in serious difficulties for several companies in the hematology diagnostics devices. As result of decreased medical testing brought on by concern over coronavirus infection, it had a detrimental effect on the market growth for hematological diagnostics.
Lockdown-related supply chain interruptions also had an impact on how quickly products were available, which in turn had an impact on the market expansion.
Global Hematology diagnostics Market Key Segments:
By Product Type
- Instruments
- Reagents
- Consumables
- Stains
- Others
By Test Type
- Full Blood Count Testing
- Red Blood Cells (RBC) Testing
- White Blood Cells (WBC) Testing
- Hemoglobin Testing
- Hematocrit and Platelets
- Blood Glucose Testing
- Renal Profiling
- Vitamin B12 Deficiency Testing
- Others
By End Use
- Hospitals & Clinics
- Diagnostic Laboratories
- Others
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
Regional performance of Hematology diagnostics Market
Due to the increased incidence of blood cancers, North America now holds a majority stake in the hematological diagnostics market. Major market participants’ presence in the area has an impact on the industry’s expansion in this region.
Other variables include increasing healthcare costs and population-level technology developments that fuel the expansion of the hematological diagnostics market in this area. Due to the expansion of hematology diagnostics in this region, it is predicted that Europe will come in second on the global market for hematological diagnostics.
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Therefore, the expansion of the hematology diagnostics market in this area is influenced by rising hematological research and increasing government programs within this region.
The hematology diagnostics market was predicted to grow most quickly in Asia-Pacific since 2017. Because blood diseases and genetic conditions are becoming more common, the industry for hematology diagnostics is anticipated to rise.
Due to consanguineous marriages or couplings between members of a similar caste, tribe, or ethnicity, among other factors, South Asians are more susceptible to genetic illnesses.
Due to strict government regulations and underdeveloped economies, the Middle East and Africa account for the smallest share of the global market for hematological diagnostics. Nevertheless, the market is anticipated to expand as a result of significant capital invested by Middle Eastern private market companies.
Hematology diagnostics market growth is also influenced by increased governmental measures to enhance the region’s medical system and the increased incidence of hereditary blood disorders.
Market report for hematology diagnostics devices:
In our report, 2021 serve as the extrapolating data, 2022 is serving as the reference year, and 2023 to 2032 is serving as the projected timeframe. Thus, the Hematology Diagnostics Market Report includes estimations for a period of time spanning from 2023 to 2032.
The demand and benefits of the hematology diagnostics market report have been acknowledged by all client categories. We present factors that have fueled expansion in markets all over the world.
This research provides an overview of market composition as well as a clear explanation of the established companies and their roles. We also present data on several regional and international contributors.
In current times, market participants must concentrate on client retention and form long-term relationships to grow and increase their footprint. Organizations will be able to keep up with market growth over the projection timeframe by making calculated decisions by use of our market report.
The study gives a thorough overview of the major revenue-generating segments and the accompanying data. The research includes numerous statistical and narrative visualizations that show how the addressable market has changed throughout the years.
Together with the year’s development, the cumulative expansion for the years 2022–2032 is also estimated and depicted. It is projected that network stakeholders will strategically collaborate to ensure growth during the forecasted timeframe.
Additionally, market participants’ investments are predicted to result in increased production quantities.
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