Hematology Analyzers Market size was valued at USD 6.22 billion in 2023 and is expected to exceed USD 13.6 billion by 2036, expanding at over 6.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hematology analyzers is assessed at USD 6.53 billion. The market for hematology analyzers is mainly projected to grow owing to factors such as the growing number of blood donations and rising incidences of blood disorders. In 2018, more than 210,000 people were diagnosed with hemophilia, which increased up to about 324,000 in the year 2019. Moreover, the rising use of hematology analyzers in research and development activities in various areas such as pharmacogenomics, genetic therapies, bleeding disorders, stem cell research, and proteomics is also expected to propel market growth. Furthermore, factors such as the rise in public awareness and the consolidation of diagnostic laboratory chains are expected to drive the market growth in the forecast period. Additionally, the rising adoption rate of automated hematology instruments and integration of AI-based hematology analyzers combined with growing preferences towards high sensitivity hematology testing is also anticipated to drive the market growth in the near future.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
6.2% |
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Base Year Market Size (2023) |
USD 6.22 billion |
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Forecast Year Market Size (2036) |
USD 13.6 billion |
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Regional Scope |
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The market is segmented based on product type into 3-part hematology analyzer, 5-part hematology analyzer, point-of-care testing hematology analyzer, and others. The 3-part hematology analyzer segment is anticipated to grab the most significant share by the end of 2030, ascribing to the fact that 3-part hematology provides sufficient information for most clinical settings and is highly cost-effective.
Based on end-users, the clinical laboratories segment in the global hematology analyzers market is projected to grow with a significant CAGR over the forecast period. The segment's growth can be attributed to the fact that clinical laboratories are early adopters of advanced technological equipment, and an increasing number of hematological tests are conducted here. Moreover, as clinical laboratories provide convenience and accurate results, the market segment is expected to grow significantly in the upcoming years.
Our in-depth analysis of the global market includes the following segments:
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Product Type |
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End-users |
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Geographically, the global hematology analyzers market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is estimated to dominate majority revenue share by 2036, attributed to presence of emerging opportunities, mainly in the developing economies of China and India. Moreover, growing awareness regarding better health care facilities, rising occurrences of diseases, and increasing population in the countries are also expected to fuel the growth of the market in the region. Furthermore, in 2030, the market in North America is evaluated to occupy the largest share in terms of revenue owing to the increasing burden of blood disorders in the region. For instance, according to the World Health Organization, anemia which is a common blood disorder, affects more than three million Americans, particularly adolescent women. Additionally, the growth in the adoption of hematology analyzers by the diagnostic industry and growing technological advancements in diagnostic instruments in the region are expected to fuel market growth in the future.
May 2021: Sysmex Corporation, a manufacturer of medical equipment and devices, has signed deals of joint development and investment with biotechnology startup ThinkCyte to produce and sell a new artificial intelligence-enabled cell analysis technology for in-vitro diagnostics.
Author Credits: Radhika Pawar
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