NEWARK, Del, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The Hematology Diagnostics Market is expected to be worth $780.0 million in 2023 and $2.0 billion by 2033. During the forecast period, the market for hematology diagnostics is expected to grow at a CAGR of 9.9%.
The increasing chronic diseases such as cancer, blood clots, blood-related disorders, and infections are driving market opportunities. Moreover, growing advanced technology and the adoption of artificial intelligence to facilitate faster diagnosis are surging hematology diagnostics market opportunities.
The rising blood disorders such as anemia, thalassemia, and sickle cell are driving the market opportunities. Furthermore, research & development activities, advanced devices to provide accurate clinical decisions, and new players in the market are increasing the sales of hematology diagnostics. In addition, the advancing standardized diagnostics with improved efficiency to reduce the workload in the research laboratories are increasing the adoption of hematology diagnostics.
The innovation of non-invasive hematology equipment and point-of-care diagnostics is boosting the market growth. According to a study published in 2019, India ranks third after the United States and China, in blood cancer.
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Manufacturers Increased Automation in Hematology Diagnostics to Surge Market Opportunities
The growing advanced technology in the medical field is uplifting the healthcare sector in recent years. The manufacturers are experimenting with various medical devices to provide accurate results, better responses, and reduce check-up time.
These manufacturers are launching innovative devices that meet patients' requirements during the forecast period. In addition, launching automatic and advanced equipment with artificial intelligence to record patient data, disease, and personal data are growing market opportunities.
Key Takeaways:
- The hematology diagnostics market is expected to reach US$ 2.0 billion by 2033.
- The global market is expected to register a CAGR of 9.9% during the forecast period.
- The market in the United States hematology diagnostics record a CAGR of 9.7% through 2033.
- With a CAGR of 8.9%, the United Kingdom market significantly uplifts during the forecast period.
- The China market is expected to record a CAGR of 9.3% over the forecast period.
Who is Winning?
The prominent players fragment the market during the forecast period. Therefore, marketers are using various strategies to propel market growth.
- Developing Innovative Products: The manufacturers and top companies focus on developing devices based on machine learning (ML) and deep learning (DL) methods for hematology diagnostics patients.
- Increasing Distribution Channels: The key companies are launching their products to acquire massive revenue in the global market. These companies provide their goods and services through multiple distribution channels such as retail, wholesale, supermarkets, and online.
- Trustworthy Brand: The manufacturing companies are developing advanced and transparent brands for their customers. The manufacturers are aware of sustainable products that maintain a trustworthy relationship between the buyer and seller.
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Other Prominent Players in the Market are:
- Meyland Smith A/S
- Abbot Laboratories
- Bio-Rad Laboratories
- Sysmex Corporation
- Mindray Medical International Limited
- Siemens Healthlineers
- F. Hoffman-La Roche Ltd.
- HORIBA Ltd.
- HemoCue AB
- Danaher (Beckman Coulter Inc.)
- Nihon Kohden Corporation
- EKF Diagnostics
- Ortho Clinical Diagnostics
- Drew Scientific
Recent Development
- In Oct 2021, Suburban Diagnostics announced its newly launched Centre of Excellence for hematology diagnostics patients. The freshly launched find out various common and uncommon disorders by providing training and research support.
- In Apr 2022, A medical device company, Sysmex Corporation, launched its new systems, including XQ-Series and XQ-320 Series. These are the automated system that provides multi-feature requirement in the laboratories.
- In Mar 2022, Mindray launched the BC-700 series. These series incorporate complete blood count and erythrocyte sedimentation tests.
Hematology Diagnostics Market by Category
By Kit Type:
- Anemia and Iron Test Kits
- Folic Acid Testing Kits
- Sickle Cell Screening Kits
- PT/INR Testing Kits
- D-dimer Testing Kits
- Blood Typing Kits
- Leukemia Testing Kits
- Sepsis Testing Kits
- Antibiotics Resistance Panels
- Bacterial & Fungal Panels
By Modality:
- Point of Care
- Lab-based Testing
By Distribution Channel:
- Hospitals
- Diagnostic Laboratories
- Cancer Research Institutes
- Retail Pharmacies
- Drug Store
- Online Sales Channels
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Table of Content
1. Executive Summary | Hematology Diagnostics Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
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