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 share is expected to grow at a CAGR of approx.
New York, Nov. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hematology Testing Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05982539/?utm_source=GNW
5% during the period 2019–2025.
The global hematology testing market is expected to grow at a steady pace during the forecast period. The growth can be attributed to the high prevalence/incidence of several acute, chronic, and infectious diseases, especially blood-related ailments. The prevalence of malaria has increased at a significant rate over the past few years across the globe. According to the WHO, malaria continues to be one of the top five reasons for deaths in the Middle East and Africa. Hence, the increase in routine blood testing to detect infection is positively influencing the market growth.
The market has been witnessing considerable technological advancements in terms of accuracy, efficiency, and test results. The availability of automated hematology analyzers has further led to reduced administrative errors, making the process more effective and efficient in disease diagnosis than manual testing. With the emergence of high throughput analyzers and point-of-care diagnostic devices, several companies are investing in R&D activities with an effort to develop cost-effective and advanced analyzers.
The following factors are likely to contribute to the growth of the hematology testing market during the forecast period:
• Technological Advancements
• Increase in Demand for Point of Care Hematology Testing
• Emergence of 6-Part Hematology Analyzers
• Increase in the Patient Pool requiring Hematology Testing
The study considers the present scenario of the hematology testing market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Hematology Testing Market Segmentation
The global hematology testing market research report includes a detailed segmentation by product, tests, end-users, and geography. 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. One of the reasons for the steady growth of consumables is an increase in the sale of high-end instruments by large hospitals, commercial labs, and other facilities handling high volumes of tests.
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. An increasing number of urgent care and free-standing emergency room centers is driving companies to invest in hematology testing systems.
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. The availability of skilled healthcare professionals to treat and diagnose several hematological disorders attracts a high number of people to hospitals than other healthcare providers, thereby increasing the revenue of the segment.
Segmentation by Products
Segmentation by Tests
• Routine Hematology Tests
• Special Hematology Test
Segmentation by End-user
• Standard Reference Laboratories
• Blood Banks
INSIGHTS BY GEOGRAPHY
North America accounted for a share of 35% of the global hematology diagnostics market in 2019. The region is growing at a phenomenal growth due to the favorable patient demography, the growing prevalence of several types of blood diseases, and encouraging reimbursement coverages. The increasing demand for hematology testing and the growing prevalence of several blood-related disorders in the US and Canada. This is further fueling the demand for analyzers and consumables.
Segmentation by Geography
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global market is highly dynamic due to the presence of several global and local players, offering a diverse range of products and reagents. Abbott, Sysmex Corporation, Danaher, Boule Diagnostics, Horiba, Mindray, Siemens, and Diatron are the major players in the market. Global players are focusing on developing innovative products and expanding their product portfolio to remain competitive in the market. They are investing extensively in R&D and product development activities to expand the product portfolio. Abbott Laboratories, Sysmex, Siemens Healthineers, Danaher Corporation, and Boule Diagnostics are focusing constantly on product development. These market players are offering hematology analyzers with new technology to increase their market presence.
• Boule Diagnostics
• Shenzhen Mindray Bio-Medical Electronics
• Siemens Healthineers
• NIHON KOHDEN
• Bio-Rad Laboratories
Other Prominent Vendors
• AGAPPE DIAGNOSTICS
• B&E BIO-TECHNOLOGY
• Balio Diagnostics
• CLINDIAG SYSTEMS
• Convergent Technologies
• CPC Diagnostics
• CPM Scientifica
• Erba Diagnostics
• EDAN Instruments
• Genrui Biotech
• F.Hoffmann-La Roche
• High Technology
KEY QUESTIONS ANSWERED
1. What is the market size of the global hematology testing market analysis?
2. What are the key factors impacting the growth of the hematology diagnostics market size?
3. What are the leading drivers/trends/restraints in the hematology testing market?
4. Who are the leading vendors and what are their market shares?
5. Which the leading segment/region generating largest revenue to the hematology diagnostics market?
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