Hematology Testing Market Size to Reach Revenues of USD 4,409.22 Million by 2027 - Arizton

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Dec 02, 2021, 09:00 ET

CHICAGO, Dec. 2, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global hematology testing market report.

The hematology testing market is expected to grow at a CAGR of over 4.51% during the period 2021−2027.

Key Highlights Offered in the Report:

Consumable's segment dominated the market and is expected grow with an incremental growth of USD 740 million. Consumables being one time use product, it is one of the important re-occurring revenue generator for the vendors.
Routine tests dominated the market by test segment. Large increase in the number of geriatric populations is driving the number of routine tests performed. However, the specialty tests in the largely increasing in the developed countries, it is expected to grow at a CAGR of 5.96% in the market.
Hospital's segment dominated the market, as majority of the routine tests are performed in the healthcare segments. However, with the increase in blood transfusion process, the usage of hematology analyzers in the blood banks have gone high.
North America dominated the market with largest share due to its developed healthcare infrastructure, increased number of diagnostic centers and increasing number of specialty tests performed are largely driving the region share.
COVID-19 had a negative impact on the hematology market. Few hematology tests were performed as majority of the labs were filled with COVID-19 diagnostic samples. This majorly limited the volume of hematology tests performed. Many key vendors also postponed their product launches due to this uncertainty in the market.

Key Offerings:

Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, analyzer part, analyzer volume, tests, end-user, and geography
Competitive Landscape – 25 key vendors and 31 other vendors

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Hematology Testing Market – Segmentation

Hematology consumables are seen as a reoccurring revenue model. Post-purchase of the instrument, companies continue to provide reagents and services. Reagents are needed each time an analyzer is used to measure a patient's blood or other samples. The sale of reagents increases as the number of analyzers installed increases over time.
The 5&6-part hematology analyzers are widely used in specialty laboratories that require specific parameters to analyze samples. 5&6-part hematology analyzers provide better analysis of samples. Large hospitals, large diagnostic labs, central labs, and public healthcare labs prefer using 5&6-part hematology analyzers.
Smaller hospitals, physician-owned clinics, private practitioners, solo practitioners, and POC settings usually prefer small & medium volume hematology analyzers. There are smaller & medium diagnostic laboratories across the globe in comparison to large diagnostic centers and major hospitals.

Hematology Testing Market by Products

Instruments
Consumables

Hematology Testing Market by Tests

Routine Tests
Special Tests

Hematology Testing Market by End-user

Hospitals
Standard Reference Laboratories
Blood Banks
Others

Hematology Testing Market – Dynamics

There is a huge demand for hematology analyzers in smaller labs, especially in rural settings. In any lab handling hundreds of daily samples, this device should be ideal. The need for immediate diagnostics of patients is increasing. This device eliminates the need to send the samples to central labs, which will take more than two days to obtain the results. The analyzer is able to function with a smaller sample, which is seen as a huge step, especially for hospital satellite facilities, oncology centers, urgent-care centers, and pediatric care centers. The large labs running thousands of tests every day require frequent cleaning of analyzers, calibrations, quality controls, and more. These are eliminated in new technologies that use AI to analyze the samples. This is very cost-effective as it largely reduces the usage of consumables and other steps in calibrating the products. This works on digitalizing the blood samples and storing the test results.

Key Drivers and Trends fueling Market Growth:

Increase in Demand for Point-of-Care Hematology Testing
Technological Advancements in Hematology Testing
Increasing Product Launches
Integration of Flow Cytometry with Hematology Analyzers

Hematology Testing Market – Geography

North America is one of the replacement markets for hematology analyzers. Many labs and hospitals are equipped with semi-automatic or automatic hematology analyzers. There is a demand for advanced devices in the market. Many labs are looking to upgrade their technology to provide better treatments to patients. In addition, countries in the North American region are facing a huge shortage of laboratory workforce. Increased adoption of telehealth during COVID-19 made people move toward smaller labs. In addition, the growing adoption of automated hematology analyzers and the development of technologically advanced automated analyzers are driving the market. For instance, the automation of hematology diagnostic tests has led to reduced turnaround time and quick diagnosis, thereby accelerating the overall treatment regimen for treating blood-related disorders. Further, the usage of automated hematology analyzers has increased patient safety by analyzing large population samples quickly during epidemics.

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Hematology Testing Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain

APAC

China
Japan
India
South Korea
Australia

Latin America

Brazil
Mexico

Middle East & Africa

Turkey
Saudi Arabia
South Africa

Major Vendors

Abbott
Boule Diagnostics
Horiba
Sysmex
Shenzhen Mindray Bio-Medical Electronics
Siemens Healthineers
NIHON KOHDEN
Diatron
Danaher

Other Prominent Vendors

ALPHA SCIENTIFIC
AGAPPE DIAGNOSTICS
Analyticon Biotechnologies
Balio Diagnostics
B&E BIO-TECHNOLOGY
Biosystems S.A
Bioway Biological Technology
Bio-Rad Laboratories
CLINDIAG SYSTEMS
CONTECH MEDICAL SYSTEMS
Convergent Technologies
CPC Diagnostics
CPM Scientifica
DIAGON
DIRUI
Drucker Diagnostics
Erba Diagnostics
EDAN Instruments
Hoffmann-La Roche
Genrui Biotech
High Technology
Shenzhen Landwind Medical
Linear Chemicals
Maccura Biotechnology
Meril Life Sciences
Norma
SFRI
Shenzhen Dymind Biotechnology
Shenzhen iCubio Biomedical Technologies
SHENZHEN PROKAN ELECTRONICS
SPINREACT
Trivitron Healthcare

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence