Hematology Diagnostics Market Size is projected to reach

New York, United States, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Hematologists investigate the origins, manifestations, and treatment of blood disorders. Diseases and cancers of the blood and related tissues are the focus of hematology, a medical specialty. The growing incidence of blood disorders such as leukemia, lymphoma, and sickle cell anemia drives the global hematology diagnostics market. An aging populace, technological progress, and increased demand for better healthcare infrastructure have all contributed to the meteoric rise in the popularity of hematology diagnostics. Since their inception, blood cell counting and characterization devices have made great strides in hematology testing. Detecting small cell populations to diagnose uncommon blood conditions has been automated, reducing human effort, improving turnaround time, and creating more straightforward analyzers.

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The Prevalence of Blood Diseases like Cancer Continues to Rise Drives the Global Market

The increasing number of people affected by diseases of the blood is a significant force driving the growth of the international hematology diagnostics market. The rising prevalence of blood disorders like anemia, thalassemia, and hemophilia has increased the demand for hematology diagnostics. Anemia affects about 29% of women and 38% of pregnant women each year, per data from the National Institutes of Health (NIH). In addition, hematologic tests are gaining popularity in nations with a sizable diabetic population because they can reliably diagnose diabetes, hypotension, and hypoglycemia, all of which are characterized by increased blood glucose levels. It is expected to boost market revenue during the forecast period.

Increased Automation in the Hematology Diagnostics Creates Tremendous Opportunities

Automation in hematology diagnostics laboratories results from the research and development efforts in this field. As a result, automation has been implemented in many diagnostic laboratories' pre-analytical, analytical, and post-analytic phases to raise results' confidence levels and standardize the industry. Sample collection, diagnostic procedures, recognition tests, and other administrative processes have all benefited from automation, which has led to a decrease in human error and more reliable results. These factors would increase the demand for hematology diagnostics, leading to a larger market.

Report Scope

Report Metric	Details
Market Size	USD 13.50 Billion by 2031
CAGR	5.5% (2023-2031)
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product Type, Test, End-User
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Sysmex (Japan), Danaher (U.S.), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (U.S.), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (U.S.), EKF Diagnostics (U.K), Mindray (China), Ortho Clinical Diagnostics (U.S.), Roche (Switzerland)
Key Market Opportunities	Increased Automation in the Hematology Diagnostics
Key Market Drivers	The Prevalence of Blood Diseases Like Cancer Continues to Rise

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Regional Analysis

North America is the most significant shareholder in the global hematology diagnostics market and is expected to grow during the forecast period. New and ongoing studies examining the value of hematology diagnosis in the early detection of various cancers are the primary drivers of growth in the market in this region. The American Cancer Society predicts that there will be 61,090 new cases of leukemia diagnosed in the United States in 2021, with 23,660 fatalities due to the disease. The rapidly developing pharmaceutical industry in North America and the government's implementation of affordable healthcare systems are also expected to boost revenue growth in the North American market. Rising healthcare spending and technological advancements among the populace are driving the hematology diagnostics market in this region.

Europe is expected to grow during the forecast period. It is due to increased healthcare spending in the region and the prevalence of blood disorders such as thalassemia and hemophilia. Many European countries have made it a priority in their health policies to manage better chronic diseases, which account for a disproportionate share of deaths and disabilities in the region. The presence of numerous market players dedicated to creating cutting-edge hematological diagnostics products and forming distribution partnerships is also expected to impact revenue growth in this regional market significantly. An increase in leukemia cases has contributed to this increase in hematology diagnostics.

Rapid urbanization, the increasing prevalence of chronic diseases, especially in developing countries like India and China, and improvements in healthcare infrastructure all contribute to the region's rising revenues. Hematological disorders are on the rise, which is expected to boost the economy in the area. According to the National Cancer Institute, India sees over 1.13 million new cancer cases yearly (NICPR). Rising rates of chronic diseases like cancer in this region are likely to directly impact public awareness of the significance of adopting routine hematology diagnostic tests for the early detection of diseases. It helps boost the Asia-Pacific market's revenue growth.

In LAMEA, the market is hindered by a lack of education and the high cost of treatment, but experts predict steady growth. Due to poor economic conditions and stringent government regulations, the region accounts for a negligible fraction of the global hematology diagnostics market. However, significant investments from private market players in the Middle East point to market growth in that region. The rising incidence of hereditary blood disorders and improvements in healthcare provided by governments also fuel growth in the hematology diagnostics market.

Key Highlights

The global hematology diagnostics market size is projected to reach USD 13.50 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2023–2031).
Based on product type, the global hematology diagnostics market is bifurcated into hematology analyzers, flow cytometers, and consumables. The consumables segment is the highest contributor to the market and is expected to grow during the forecast period.
Based on the test, the global hematology diagnostics market is bifurcated into anemia, hemoglobinopathy, leukemia/lymphoma phenotyping, hematology pathophysiology, complete blood count (CBC), and others. The complete blood count segment is the highest contributor to the market and is expected to grow during the forecast period.
Based on end-user, the global hematology diagnostics market is bifurcated into hospital laboratories, commercial service providers, government reference laboratories, and research and academic institutes. The hospital laboratories segment is the highest contributor to the market and is expected to grow during the forecast period.
North America is the most significant shareholder in the global hematology diagnostics market and is expected to grow during the forecast period.

List of top key global hematology diagnostics market companies

Sysmex
Danaher
Nihon Kohden
Siemens
Abbott Laboratories
Boule Diagnostics
HORIBA
Bio-Rad Laboratories
BioSystems
Diatron
Drew Scientific
EKF Diagnostics
Mindray
Ortho Clinical Diagnostics
Roche

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Global Hematology Diagnostics Market: Segmentation

By Product Type

Hematology Analyzer
Flow Cytometers
Consumables

By Test

Anemia
Hemoglobinopathy
Leukemia/Lymphoma Phenotyping
Hematology Pathophysiology
Complete Blood Count (CBC)
Others

By End-User

Hospital Laboratories
Commercial Service Providers
Government Reference Laboratories
Research and Academic Institutes

By Regions

North America
Europe
Asia-Pacific
LAMEA

TABLE OF CONTENT

Introduction
1. Market Definition
2. Market Scope
Research Methodology
1. Primary Research
2. Research Methodology
3. Assumptions & Exclusions
4. Secondary Data Sources
Market Overview
1. Report Segmentation & Scope
2. Value Chain Analysis: Hematology Diagnostics Market
3. Key Market Trends
  1. Drivers
  2. Restraints
  3. Opportunities
4. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of Substitution
  4. Threat of New Entrants
  5. Competitive Rivalry
5. Market Share Analysis
Product Type Overview
1. Introduction
  1. Market Size & Forecast
2. Hematology Analyzer
  1. Market Size & Forecast
3. Flow Cytometers
  1. Market Size & Forecast
End-User Overview
1. Introduction
  1. Market Size & Forecast
2. Commercial
  1. Market Size & Forecast
3. Service Providers
  1. Market Size & Forecast
Regional Overview
1. Introduction
  1. Market Size & Forecast
2. America
  1. North America
  2. U.S.
    1. By Product Type
    2. By End-User
  3. Canada
    1. By Product Type
    2. By End-User
  4. Mexico
    1. By Product Type
    2. By End-User
  5. Latin America
    1. By Product Type
    2. By End-User
3. Europe
  1. Market Size & Forecast
  2. Germany
    1. By Product Type
    2. By End-User
  3. France
    1. By Product Type
    2. By End-User
  4. U.K.
    1. By Product Type
    2. By End-User
  5. Italy
    1. By Product Type
    2. By End-User
  6. Spain
    1. By Product Type
    2. By End-User
  7. Rest of Europe
    1. By Product Type
    2. By End-User
4. Asia Pacific
  1. Market Size & Forecast
  2. Japan
    1. By Product Type
    2. By End-User
  3. China
    1. By Product Type
    2. By End-User
  4. Australia
    1. By Product Type
    2. By End-User
  5. India
    1. By Product Type
    2. By End-User
  6. South Korea
    1. By Product Type
    2. By End-User
  7. Rest of Asia-Pacific
    1. By Product Type
    2. By End-User
5. Middle East & Africa
  1. Market Size & Forecast
  2. Saudi Arabia
    1. By Product Type
    2. By End-User
  3. South Africa
    1. By Product Type
    2. By End-User
  4. Kuwait
    1. By Product Type
    2. By End-User
  5. Rest of Middle East & Africa
    1. By Product Type
    2. By End-User
Company Profile
1. Nihon Kohden
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
2. Sysmex
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
3. Danaher
  1. Company Overview
  2. Financial Performance
  3. Recent Developments
  4. Product Portfolio
Conclusion & Recommendation
Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/hematology-diagnostics-market/toc

Market News

In April 2022, Sysmex Europe released the XQ-320 XQ-Series Automated Hematology Analyzer, a three-part differential system with a wide range of features designed to serve a variety of laboratories within healthcare facilities.
In March 2022, Mindray introduced the new BC-700 Series, a revolutionary hematology analyzer series that includes both CBC and ESR tests.

News Media

North America is expected to Dominated Hematology Diagnostics Market Owing to High Rate of Patients Suffering from Blood Disorder

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Hematology Diagnostics Market Size is projected to reach USD 13.50 billion by 2031, growing at a CAGR of 5.5%: Straits Research

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Hematology Diagnostics Market Size is projected to reach USD 13.50 billion by 2031, growing at a CAGR of 5.5%: Straits Research

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