The increasing number of blood donations and the growing amount of people suffering from blood disorders are driving the demand for the market.
Market Size – USD 7.00 Billion in 2019, Market Growth - CAGR of 7.1%, Market Trends – Increasing number of blood disorders.
NEW YORK, Sept. 1, 2020 /PRNewswire/ -- The Global Hematology Analyzers and Reagents Market is forecast to reach USD 12.10 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the Hematology Analyzers and Reagents Market maintain a stable growth rate over the forecast period. The rise in disposable incomes and the growing adoption of automated hematology devices by clinical labs will provide strength to the Hematology Analyzers and Reagents Market and will also help in its growth over the forecast period.
Due to the pandemic, there are high chances of disruption in the supply chain, which influences ingredients and raw material supplies. The financial crisis can let people shrink their expenses on treatments, which may lead to life risk. Apart from barriers, there are some drivers of the Hematology Analyzers and Reagents Market, such as increasing blood donations, growing number of people affected by blood-related disorders, increasing investments in the research and development of hematology devices and usage of microfluidics technology in hematology instruments. The emerging economies of the world also provide a vast field of opportunities for the new players in the Hematology Analyzers and Reagents Market.
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COVID-19 Impact Analysis:
After the outbreak of the coronavirus, WHO encouraged people to take more aggressive steps to prevent the virus from spreading and to abide by the rules and regulations created by the respective governments of each country. Experts predicted that COVID-19 would have a negative effect on patients with blood-related disorders. Due to the lack of resources, more emphasis is laid on patients suffering from COVID-19 compared to patients suffering from other diseases. Thus, patients suffering from blood-related disorders might face negative consequences if they do not receive proper treatment. A delay in treating a blood cancer patient might lead to loss of life in severe cases. To avoid the transmission of COVID-19, doctors are practicing telemedicine with the patients suffering from a blood disorder, though the implementation is challenging. Currently, COVID-19 has created a barrier for both patients suffering from blood-related diseases and Hematology Analyzers and Reagents Market.
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Further key findings from the report suggest
- The increasing number of blood donations arranged by different organizations worldwide are boosting the Hematology Analyzers and Reagents Market. Additionally, the growing investment in the research and development of the hematology instrument made by the leading manufacturers are also acting as a driver for the Hematology Analyzers and Reagents Market.
- The hematology products held the largest share of about 40.4% of the Hematology Analyzers and Reagents Market in 2019. The increasing production of technologically advanced devices and the growing adoption of Point of Care (POC) testing has generated revenue for the market.
- Asia Pacific has the highest adoption rate in the market due to the increasing demand for Hematology Analyzers and Reagents in countries like China and India and recent developments in the healthcare infrastructure.
- Hematology Analyzers and Reagents Market are adopting some wiser strategies to stay competitive in between the growing demand of the Hematology Analyzers and Reagents. Collaborations have been observed between prominent brands to increase their product portfolio and enter new markets. Companies adopt effective marketing and branding strategies to hold their position in the market.
- Key participants include Abbott Laboratories, Roche Diagnostics, Siemens AG, Beckman Coulter, HORIBA Ltd, Nihon Kohden Corporation, Bio-Rad Laboratories, Sysmex Corporation, Boule Diagnostics AB, and Mindray Medical International Limited, among others.
For the purpose of this report, Reports and Data has segmented the Global Hematology Analyzers and Reagents Market on the basis of product, price range, end-users, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Hematology Analyzers
- Hemostasis Analyzers
- Plasma Protein Analyzers
- Hemoglobin Analyzers
- Immunohematology Analyzers
Price range Outlook (Revenue, USD Billion; 2017-2027)
- High-end Hematology Analyzers
- Mid-range Hematology Analyzers
- Low-end Hematology Analyzers
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Research & Academic Institutes
- Blood Banks
- Hospital laboratories
- Commercial service Providers
Application Outlook (Revenue, USD Billion; 2017-2027)
- Infection Related Conditions
- Blood Cancers
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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