Hematology Diagnostics Market (By Product - Instrument [Analyzers, Flow Cytometers, Others], Consumables, Reagents, Stains, Others; By Test Type - Blood Count, Platelet function, Hemoglobin, Hematocrit; By End Use - Hospitals, Diagnostic Labs, Others) - Global Industry Size, Share, Trends and Forecast 2018 – 2026 ; Rise in Prevalence of Blood Disorders, Increase in Consolidation among Market Players and Diagnostic Laboratories, Introduction of Fully Automated Hematology Analyzers and Rapid Technological Advancements to Drive the Market Growth
LOS ANGELES, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The global hematology diagnostics market was valued around US$ 3.51 Bn in 2017 and is anticipated to expand at a stable CAGR above 5.8% during the forecast period 2018 to 2026. According to the report titled “Hematology Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2026”. Growing Rise in prevalence of blood disorders, increase in consolidation among market players and diagnostic laboratories, introduction of fully automated hematology analyzers and rapid technological advancements have increased the growth of the global hematology diagnostics market. The market in the North America is likely to expand at significant CAGR due to ease of usage, numerous technological advancements in instruments, and favourable reimbursement scenario.
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Consumables segment is expected to register the highest growth rate during the forecast period
The global hematology diagnostics market is divided on the basis of product, test type, and end-user. By product type the hematology diagnostics market, categorized into instruments and consumables. Consumables segment contributed highest market share in 2017 and anticipated to maintain its dominance throughout the forecast period due to increased demand for consumables as incidences of blood disorders and other infections are increased. Growing use of microfluidics technology and introduction of digital imaging systems in hematology laboratories are expected to create opportunities for growth of the global hematology diagnostics market. Factors such as escalating adoption of POC testing hematology products in rising economies, introduction of innovatively propelled hematology items combined with the expanding inclination towards automation are driving the growth of the market. Moreover, the rising availability of wide range of consumables is boosting the growth of the consumable segment. Additionally, instruments category includes fully-automated hematology analyzers and semi-automated hematology analyzers. Growing automation and technological advancements are some of the fundamental factors that are fueling the growth of instruments segment.
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Increasing incidences of blood disorder diseases is expected to propel the growth of blood count test type segment
Based on test type, the global hematology diagnostics market is bifurcated as blood count, platelet function, hemoglobin and hematocrit. Among these test types, blood count segment is projected to witness fast growth throughout the forecast period owing to the growing cases of blood disorder diseases, rising demand for improved healthcare facilities, increasing aging population and various clinical advancements, rise in demand for preventive diagnosis and treatment monitoring and growing automation are escalating the demand for blood count tests, thereby increasing the growth of the segment.
Constantly increasing geriatric population and sophisticated technological facilities in North America to create more opportunities in the global market
Geographically, the global hematology diagnostics market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In 2017, North America was estimated the biggest revenue generating region of the market. This growth is attributed to the rising frequency of patients experiencing blood issue, developing predominance of target sicknesses, rising interest for blood transfusions expanding the interest for hematology testing in the region. North America is anticipated to grow at significant CAGR over the forecast period. Asia Pacific is also expected to grow at significant rate during the forecast period owing to the large population and growing awareness towards health issues among people. Factors such as increasing awareness towards health problems, rising disposable income and increased utilization of diagnostic and therapy products. Due to growing automation in the healthcare equipment and increasing expenditure, Europe hematology diagnostics market is anticipated to be on rise in coming years. Regions such as Middle East and Africa and Latin America are also expected to contribute significant revenue share in 2026.
Key Players
The company profiling of key players in the global hematology diagnostics market includes company overview, major business strategies and revenues. The key players of the market are Abbott Laboratories, Ortho Clinical Diagnostics, Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., Drew Scientific, Bio-Rad Laboratories, EKF Diagnostics, and Beckman Coulter, Inc. Industry participant battle on the basis of price, new innovated product launch, and expanding market presence.
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