Hematology Testing Market Size to Reach Revenues of USD 5.4 Billion by 2025 - Arizton

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Oct 29, 2020, 09:00 ET

CHICAGO, Oct. 29, 2020 /PRNewswire/ -- The global hematology testing market is expected to grow at a CAGR of approximately 5% during the period 2019−2025.

Key Highlights Offered in the Report:

The US accounted for the major share of the global hematology testing market and likely to witness incremental growth of around USD 306 million during the forecast period.
The consumables segment accounted for the major share in the market with incremental growth of more than USD 1 billion during the forecast period. Global players are focusing to partner with the regional players to produce the consumables for their respective brands.
Hospitals accounted for the major share however the standard reference laboratory has the highest incremental growth of more than USD 500 million with steady growth rate in the global hematology testing market
In the testing segment, the routine tests accounted for the major share in the market and is expected to grow with incremental growth of more than USD 1 billion during the forecast period.
APAC is the fastest growing region with a CAGR of over 7% and North America dominated the market with around 35% share in the global Hematology testing market.
The demand for the automated hematology analyzers is increasing across the globe, there is a shift from the usage of semi-automated hematology analyzers to automated high throughput analyzers.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, tests, end-users, and geography
Competitive Landscape – 10 key vendors and 13 other vendors

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Hematology Testing Market – Segmentation

The usage of a wide array of several reagents and test kits to perform hematology tests is increasing revenue opportunities for the consumables segment. The segment generates continuous revenue for vendors as their usage is recurring. Hence, several renowned key players are manufacturing consumables required for both in-house hematology analyzers and other healthcare settings.
Routine hematology testing has emerged as a rapidly growing segment in the healthcare industry. The increasing prevalence of diseases and the growing awareness of regular healthcare examinations across the globe are the primary reasons for the growth of routine checkups and overall clinical laboratory testing.
The hospitals end-user segment dominated the market in 2019 due to the high volume of hematological tests performed in these settings. The increase in the number of private hospitals, which have their own central laboratories performing a high volume of tests, is driving the segment growth.

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

In recent years, the role of the laboratory in disease diagnosis and management has expanded, causing an overwhelming rise in testing demands. This is even applicable to hematology testing as the market is witnessing many novel innovations and technological breakthroughs in recent years. Further, to meet the increasing needs of hematology testing, analyzers and related consumables should not only deliver more clinical data than ever before but should also be easier to operate, alleviating overburdened cumbersome tasks of lab technicians. Vendors are responding to the unmet needs in hematology testing with technological evolutions in the areas of new product commercialization, clinic workflow, analytical advancements, and clinical information management. Globally, due to fast-moving product development, both niche manufacturers and large multinational companies introduced hematology analyzers and related consumables to provide unique solutions to evolving customer needs.

Key Drivers and Trends fueling Market Growth:

Increase in Demand for Point of Care Hematology Testing
Emergence of 6-Part Hematology Analyzers
Paradigm Shift Towards Automated Hematology Testing
Increase in Patient Pool Requiring Hematology Tests

Hematology Testing Market – Geography

North America is expected to retain its dominance by 2025. In 2019, the region accounted for a share of 35% in the global hematology testing market owing to the increasing rate of patients suffering from blood disorders such as sickle cell anemia, thalassemia, anemia, leukemia, among others. The high acceptance of innovative and advanced hematology instruments and the availability of skilled laboratory professionals to operate and handle the highly automated advanced hematology devices in the market have collectively supported North America's lead in the global market.

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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
Danaher
Boule Diagnostics
HORIBA
Sysmex
Shenzhen Mindray Bio-Medical Electronics
Siemens Healthineers
NIHON KOHDEN
Diatron
Bio-Rad Laboratories

Other Prominent Vendors

AGAPPE DIAGNOSTICS
B&E BIO-TECHNOLOGY
Balio Diagnostics
CLINDIAG SYSTEMS
Convergent Technologies
CPC Diagnostics
CPM Scientifica
DIAGON
Erba Diagnostics
EDAN Instruments
Genrui Biotech
F.Hoffmann-La Roche
High Technology

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About Arizton:

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