Hematology Market Scope
The high incidence of blood and blood-related disorders leading to the usage of hematology and emergence of high throughput hematology analyzer is driving the Global Hematology market. Approximately one person is diagnosed with blood cancer every 3 minutes in the United States. Hematology is a branch of medicine which involves the study of blood in health and diseases. The disorders include Anemia, Malaria, Thalassemia, Myelodysplastic syndrome, etc. Along with this, the increasing incidence of kidney diseases is also expected to induce huge growth in the hematology market. Hematology analyzers are large automated integrated systems that combine all forms of sample processing, analysis, and presentation of results. The analyzer also helps in pre and post-analytical sample handling and management of reagent supply with limited user interference. The analyzer also helps laboratories generate results in faster turnaround time, thereby improving the efficiency and labor utilization. According to the National Hemophilia Foundation
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Sysmex (Japan), Danaher (United States), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (United States), Boule Diagnostics (Europe), HORIBA (Japan), Bio-Rad Laboratories (United States), Bio Systems (Europe), Diatron (Europe) and Drew Scientific (United States) |
CAGR | 5.0% |
The market is fragmented with many global key players who are adopting the strategy of merger and acquisition to sustain in the global hematology market. Established vendors of laboratory equipment are supplying new models of hematology analyzers at competitive prices, helping laboratories to enhance their capabilities, productivity, and workflow. They are also offering recertified instruments and reagent rental plans which is beneficial for laboratories with budget constraints. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Hematology market throughout the predicted period.
Sysmex (Japan), Danaher (United States), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (United States), Boule Diagnostics (Europe), HORIBA (Japan), Bio-Rad Laboratories (United States), Bio Systems (Europe), Diatron (Europe) and Drew Scientific (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are EKF Diagnostics (U.K.), Mindray (China), Ortho Clinical Diagnostics (United States) and Roche (Europe).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Hematology market by Type , by Application (Infectious diseases, Blood screening, Diabetes, HIV, Cancer, Cardiovascular diseases and Others) and Region with country level break-up.
On the basis of geography, the market of Hematology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In 2022, Mindray introduces the new BC-700 Series, an innovative series of hematology analyzers that integrate both complete blood count (CBC) and erythrocyte sedimentation rate (ESR) testing.
In 2022, Sysmex Europe has launched the new three-part differential system XQ-320 XQ-Series Automated Hematology Analyzer with a variety of features to meet the different needs of different types of laboratories in healthcare facilities.
Influencing Trend:
Growing incidence of blood disorders among the population. and Involvement of Automation in hematology instruments.
Market Growth Drivers:
Increasing incidence of blood disorders and the rising rate of blood donation, Technological advancement in hematology analyzer and reagents and Integration of techniques like Flow Cytometry with hematology analyzer.
Challenges:
High cost of the instrument (Hematology analyzer) which is available in a portable and advanced form is making it difficult for small vendors to invest in the market.
Restraints:
High cost of equipment and reagents and Poor health insurance coverage.
Opportunities:
Availability of a large number of diagnostic centers and adoption of highly adopted hematology analyzers by the laboratories.
Key Target Audience
Healthcare providers, Government and regulatory bodies, Hematology Instrument manufacturers, Distributors and Suppliers, Pharmaceutical Companies and Clinics