- The growth of the market can be attributed to a growth in technology surrounding Clinical Chemistry Analyzers, a rising global population, technological improvements in the point of care testing devices, and the development of laboratory automation.
JERSEY CITY, N.J., June 10, 2021 Verified Market Research recently published a report, "Clinical Chemistry Analyzers Market" By Product (Analyzers, Reagents and Other Products), By Test Type (Lipid Profiles, Thyroid Function Panels, Electrolyte Panels & Others), By Technology (Fully-Automated & Semi- Automated), By End User (Hospitals and Clinics, Diagnostic Laboratories, Research Laboratories & Institutes and Others), and By Geography. According to Verified Market Research, the Global Clinical Chemistry Analyzers Market was valued at USD 11.45 Billion in 2020 and is projected to reach USD 15.97 Billion by 2028, growing at a CAGR of 4.25% from 2021 to 2028.
Global Clinical Chemistry Analyzers Market Overview
A growth driver in the field of Clinical Chemistry Analyzers is the increasing incidences of chronic diseases triggered largely due to lifestyle changes. According to IDF Diabetes Atlas Ninth Edition 2019, almost 463 million adults were suffering from Diabetes, a number which is expected to go as high as 700 million by 2045. Out of the 34 Million People having diabetes, 90-95% have a type 2 diabetes, which often needs regular injections. An approximation of 1.5 million deaths were directly caused by diabetes in 2019. There are numerous amounts of tests carried out for the diagnosis of such diseases, which gives a physician important insight on renal, cardiac and liver functions among others. Thus, the growing prevalence of chronic diseases, especially diabetes is expected to significantly contribute to the growth of the Disposable Syringes market.
Another important growth driver is the rise in geriatric population around the world. According to the United Nations there were 703 million people aged 65 and above worldwide in 2019. Such a high number of geriatric populations gives way for contracting numerous age-associated chronic diseases which would require efficient ways for their diagnosis, thus leading to a rise in the Global Clinical Chemistry Analyzers Market.
In February 2021, Thermo Fischer Scientific announced a partnership with Mindray, a leading global developer, manufacturer and supplier of medical devices, to make available to customers, two clinical chemistry analyzers in the United States (U.S.) and Canada for drug screening in clinical and drug court laboratories.
In December 2020, HORIBA Medical announced that it has obtained U.S. Food and Drug Administration (FDA) and Health Canada clearance in North America for its next generation clinical chemistry system, the Yumizen C1200. Providing big lab automation in a small footprint, the Yumizen C1200 analyzer is designed with high efficiency, accuracy and optimal workflow capabilities making it a perfect fit for laboratories processing 2.0M+ tests annually.
The major players in the market are Abbott Diagnostics, Siemens AG, Beckman Coulter Inc., Roche Diagnostics, ELITech Group SAS, Ortho-Clinical Diagnostics, Thermo Fisher Scientific, Randox Laboratories Ltd., Horiba, Ltd., Mindray Medical International Limited among others.
Verified Market Research has segmented the Global Clinical Chemistry Analyzers Market On the basis of Product, Test Type, Analyzer Technology, End User and Geography.
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