Dublin, Oct. 04, 2024 (GLOBE NEWSWIRE) -- The "Clinical Chemistry Analyzers - A Global Market Overview" report has been added to ResearchAndMarkets.com's offering.
The global Clinical Chemistry Analyzers market is estimated at US$14.5 billion in 2024 and is expected to record a CAGR of 4.9% during the 2024-2030 analysis period and stand at a projected US$19.3 billion by 2030.
The clinical chemistry analyzers market growth is driven by the rising prevalence of chronic conditions such as diabetes, cardiovascular diseases, and kidney disorders, which increase patient visits and diagnostic procedures, thereby boosting demand for these analyzers. Technological advancements like automation, enhanced resolution, and AI integration have improved the capabilities of these analyzers, enabling early disease detection and efficient testing.
These innovations enhance accuracy, decrease processing times, and manage large sample quantities, leading to higher demand and market expansion. Additionally, the rising geriatric population and investments in healthcare facilities contribute to market growth. The shift towards automation in diagnostics and the development of advanced analyzers are further contributing to the market's rapid expansion.
In 2024, North America dominates the clinical chemistry analyzers market with a share of 42%, driven by its advanced healthcare infrastructure, significant R&D funding, and high demand from hospitals and laboratories. The United States is notable for its established healthcare system and the presence of leading clinical chemistry analyzer companies.
On the other hand, the Asia Pacific region is projected to record the fastest CAGR of 6.3% during the forecast period, driven by rapidly developing economies such as China and India, rising healthcare costs, and the growth of diagnostic facilities. This expansion is backed by substantial funding for healthcare facilities, a rising burden of chronic illnesses, and a clear emphasis on improving diagnostic technology.
Clinical Chemistry Analyzers Market Analysis by Product Type
The reagent segment dominates the market with an estimated 47.2% share in 2024, fueled by ongoing demand for clinical tests and its essential role in accurate diagnostics. This segment benefits from the need for regular replenishment and increasing test volumes related to chronic diseases and aging populations. Conversely, the analyzer segment is expected to record the fastest CAGR of 5.6% during the analysis period 2024-2030, driven by technological advancements, including improved resolution, quicker diagnostics, and enhanced automation, which streamline laboratory processes and expand diagnostic capabilities.
Clinical Chemistry Analyzers Market Analysis by Test Type
In 2024, the Basic Metabolic Panel (BMP) leads the market with an estimated share of 19.3% due to its extensive use in routine exams and emergency care, providing vital information on metabolic functions and organ performance. BMP's comprehensive application in detecting metabolic disorders and monitoring chronic diseases like diabetes and hypertension drives its significant market share. Conversely, the Lipid Profiles segment is projected to register the fastest CAGR of 6.9% during the analysis period 2024-2030, driven by the increased use of point-of-care test kits that offer rapid results for cholesterol and triglyceride levels tests.
Clinical Chemistry Analyzers Market Analysis by End-User
The Hospitals segment is the largest end-user market in the clinical chemistry analyzers, with an estimated share of 46.8% in 2024. This dominance is due to high patient volumes, frequent readmissions, and large sample sizes, along with advanced infrastructure and government initiatives. However, The Diagnostic Laboratories segment is anticipated to record the fastest growth with a CAGR of 5.3% during the forecast period 2024-2030. This growth is fueled by increasing demand for accurate diagnostics, increasing occurrence of chronic diseases, and advancements in automation and lab information systems that improve efficiency and productivity.
Clinical Chemistry Analyzers Market Report Scope
This global report on Blood Collection Devices analyzes the market based on product type, collection method, application, end-user. In addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.
Key Metrics
- Historical Period: 2021-2023
- Base Year: 2023
- Forecast Period: 2024-2030
- Units: Value market in US$
- Companies Mentioned: 10+
Clinical Chemistry Analyzers Market by Geographic Region
- North America (The United States, Canada, and Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, and Rest of Europe)
- Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Rest of World
Clinical Chemistry Analyzers Market by Product Type
- Analyzers
- Reagents
- Others (Including Consumables, Software and Services)
Clinical Chemistry Analyzers Market by Test Type
- Basic Metabolic Panels
- Liver Panels
- Lipid Profiles
- Renal Profiles
- Thyroid Function Panels
- Electrolyte Panels
- Specialty Chemical Tests
Clinical Chemistry Analyzers Market by End-User
- Hospitals
- Diagnostic Laboratories
- Academic Research Centers
- Other End-Users (Including Ambulatory Care Centers and Point of Care Settings)
Key Global Players
- Abbott Laboratories
- Beckman Coulter, Inc.
- EKF Diagnostics Holdings plc
- ELITech Group
- F. Hoffmann-La Roche AG
- Horiba, Ltd.
- Mindray Medical International Limited
- QuidelOrtho Corporation
- Randox Laboratories Ltd.
- Siemens Healthineers AG
- Sysmex Corporation
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/uf6v3x
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