MarkNtel Advisors has recently published a research report, according to which The Global Hematology Diagnostics Market is projected to grow at a CAGR of around 6.9% during the forecast period, i.e., 2023-28. As per the report, the market growth is driven by key factors such as advancements in technology for innovative automated analyzers and testers, along with a notable increase in blood-related disorders among both children and the elderly.
Similarly, the expanding geriatric population and the growing incidence of blood disorders are essential factors expected to propel the overall market for hematology diagnostics worldwide. The growing awareness among consumers regarding blood diseases is also poised to contribute significantly to market expansion. Furthermore, in the forthcoming years, market players stand to gain from augmented investments in research and development endeavors aimed at creating novel diagnostic solutions.
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· By Product Type (Hematology Instruments, Hematology Analyzer, Fully-automated hematology analyzer, Semi-automated hematology analyzer, Flow cytometers, Others)
· By End User (Hospitals and Clinics, Diagnostic Laboratories, Academic Institute, Commercial Service Providers, Others)
· By Consumables (Reagents, Stains, Controls and Calibrations, Others)
· By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
· By Company (Abbott Laboratories, Mindray Medical International, Siemens Healthneers, BioSystems, BioRad Laboratories, Horiba, Symex Corporation, Nihon Kohden Corpration, Danaher Corporation, F. Hoffman-La-Roche Ltd.)
Hospitals and Clinics Dominated the Market Share in The Historical Period, But The Projection Period Anticipates a Significant Growth in Diagnostic Labs
This shift is primarily attributed to the expansion of diagnostic facilities and the increased availability of advanced equipment. The automation of diagnostic instruments is expected to contribute to cost reduction for these tests, driving their future demand.
Additionally, the uptick in research and development efforts, highlighting the efficacy of hematology analyzers, is likely to have a positive impact on their adoption in hospitals, clinics, and laboratories. An example of this trend is evident in the widespread use of automated hematologic analyzers in medical laboratories, as discussed in the February 2021 paper titled “Establishment of better review criteria for hematology analyzers in cancer hospitals.”
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Europe Is Poised to Experience Consistent Revenue Growth, driven by Increasing Healthcare Expenditures in The Region’s Countries and The Rising Prevalence of Blood Disorders Such as Thalassemia and Hemophilia
The amplified focus on chronic disease management in the health policies of several European nations, acknowledging the substantial impact of chronic diseases on both mortality and morbidity in the continent, further contributes to this growth.
The presence of robust market players dedicated to enhancing hematological diagnostics products and establishing strategic distribution alliances is expected to play a significant role in shaping the revenue trajectory of this regional market. Moreover, the expanding incidence of leukemia in the region adds to the growing demand for hematology diagnostics.
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Recent Advances in the Global Hematology Diagnostics Market
In March 2022, Beckman Coulter introduced new tests for antipsychotic medications, providing a valuable tool for the identification and treatment of individuals with mental illnesses. Through a collaboration with Saladax Biomedical, Inc., the company secured a contract for distributing tests designed to detect antipsychotic drug levels in the blood of individuals facing conditions such as schizophrenia and bipolar disorder.
In June 2021, Sysmex made a significant announcement with the introduction of the XN-10 Automated Hematology Analyzer with Blood Bank Mode, which received FDA clearance for its comprehensive hematology product portfolio. This cutting-edge analyzer facilitates automated Complete Blood Count with Differential (CBC/DIFF) for whole blood samples and supports testing for Red Blood Cells (RBC) and Platelet Components. The expansion of Sysmex’s offerings is poised to enhance the efficiency and testing precision of blood testing facilities worldwide.
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