Hematology Analyzers and Reagents Market Worth $10.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™

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Jun 01, 2020, 10:30 ET

CHICAGO, June 1, 2020 /PRNewswire/ -- According to the new market research report "Hematology Analyzers and Reagents Market by Products & Services [Hematology Analyzers (5 Parts, 6 Parts, 3 Part, PoC, Semi-Automated), Hemostasis, Immunohematology], Price Range (High, Low), End User (Government labs) – Global Forecast to 2025", published by MarketsandMarkets™, the Hematology Analyzers and Reagents Market is projected to reach USD 10.6 billion by 2025 from USD 7.6 billion in 2020, at a CAGR of 6.9% during the forecast period.

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The increasing incidence of blood disorders and the growth in the number of blood donation are the major factors driving the growth of the global hematology analyzers and reagents market. Technological advancements in hematology analyzers and reagents and the integration of flow cytometry techniques with hematology analyzers are also expected to support the growth of this market during the forecast period.

The hematology products & services segment is expected to register the highest growth rate during the forecast period.

On the basis of products & services, the hematology analyzers and reagents market is classified into hematology, hemostasis, and immunohematology products & services. The hematology products & services segment is projected to grow at the highest growth rate during the forecast period. Factors such as the increasing adoption of POC testing hematology analyzers in emerging economies, the launch of technologically advanced hematology products, the increasing preference for automation, the growing trend of the "reagent rental" business model, and the rising availability of a wide range of services from major hematology providers are driving the growth of this segment.

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Based on end user, the commercial service providers segment accounted for the largest share of the market in 2019.

By end user, the hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2019, the commercial service providers segment accounted for the largest share of the market due to factors such as the increasing awareness about hematology testing, shift from manual testing to automated testing, and the competitive benefits offered by these providers as compared to hospitals (such as affordable service costs, efficient turnaround time, and efficient management of sample collection).

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North America dominated the hematology analyzers and reagents market in 2019.

North America accounted for the largest share of the market in 2019. This can be attributed to the rising incidence of patients suffering from blood disorders, the growing prevalence of target diseases, and the rising demand for blood transfusions in the region.

The major players in the global hematology analyzers and reagents market are Sysmex Corporation (Japan), Abbott Laboratories (US), Danaher Corporation (US), Nihon Kohden (Japan), Siemens (Germany), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland).

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