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Hematology Analyzers Market Research Report Information By Product Type (Instruments, [Part Hematology Analyzer, Part Hematology Analyzer, Point-of-care Testing Hematology Analyzers, and Others], Reagents, and Services), By End User (Hospitals, Clinical Laboratories, Research Institutes, and Other End Users), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/LS/20326-HCR | 128 Pages | Author: Rahul Gotadki| June 2024

Global Hematology Analyzers Market Overview

The Hematology Analyzers Market was valued at USD 5.5 billion in 2023. The industry is projected to grow from USD 5.7 billion in 2024 to USD 7.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). The rising prevalence of blood disorders and the growing aging population are the primary drivers propelling the market's expansion.

Hematology Analyzers Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hematology Analyzers Market Trends

  • Growing demand for a 3-part hematology analyzer system is driving the growth of the market.

The size and volume of a three-part differential cell counter are determined by applying Coulter's Principle. In a container that also accommodates a smaller container, the sample is lysed and dissolved into an electrolyte solution. Small hospitals, clinics, and physician offices that do somewhat sophisticated testing are the perfect places for 3-part hematology analyzer systems. Though 3-part hematology analyzers are more affordable for standard hematological testing, 5-part hematology analyzers are gaining popularity. In addition, it is anticipated that the market will increase significantly due to technological improvements, the accessibility of these instruments globally, and their affordability. Convenience and precise outcomes are also the two main factors propelling the segment's expansion throughout the projection period.

Four distinct virus species infect both humans and non-human primates to create the deadly Ebola virus disease. Blood and bodily fluids from an individual who has contracted the Ebola virus or has passed away might directly transmit the infection to other persons. Hemorrhagic fever is caused by it, and it affects several organs and produces bleeding both internally and outside. Since its initial epicenter in Mubende district, the Ebola epidemic in Uganda has expanded to seven areas (Kasanda, Kyegegwa, Bunyangabu, and Kagadi districts; it has now reached Kampala City and Wakiso). The outbreak was first reported on September 20, 2022. Because of this, accurate diagnosis is necessary to stop the spread of the illness during outbreaks, which is anticipated to drive up demand for 3-part hematology analyzers throughout the projected period.

Product releases and other initiatives are another factor driving market expansion. For example, Sysmex Europe introduced the XQ-320, a new three-part differential automated hematology analyzer, in April 2022. In Europe, it is a reliable instrument that requires little in terms of sample volume, bench space, and maintenance. As a result, over the projected period, the factors above are anticipated to boost market growth.

Furthermore, POCT hematological analyzers allow medical practitioners to identify patients and start therapy rapidly. These analyzers are especially helpful in emergency departments, outpatient clinics, and remote sites. Results can be obtained from blood tests in a matter of minutes. POCT hematology analyzers provide larger convenience, comfort, and accessibility, particularly for those with restricted mobility or access to healthcare facilities, by removing the need for patients to travel to centralized laboratories for blood testing.

Similarly, more than 1,125,000 males globally suffer from an inherited bleeding illness; 418,000 of them have a severe form of the most common disease that goes undetected, according to a July 2022 study published by the World Federation of Hemophilia. The greatest strategies to preserve a patient's quality of life when they have a blood cell problem are early diagnosis and therapy. Therefore, the market is expected to be driven in the future by the rising burden of blood diseases. Thus, driving the Hematology Analyzers market revenue.

Hematology Analyzers Market Segment Insights

Hematology Analyzers Product Type Insights

Based on Product Type, the Hematology Analyzers market segmentation includes instruments, [part hematology analyzer, part hematology analyzer, point-of-care testing hematology analyzers, and others], reagents, and services. In 2023, the reagents segment dominated the market. Whole blood samples are diluted with diluent reagents to provide appropriate sample volume and minimize cell clumping for precise blood cell counting and size. White blood cells (WBCs) and platelets can be analyzed without interference from red blood cells (RBCs) by using lytic reagents to lyse RBCs in whole blood samples. Hemoglobin reagents are used to quantify hemoglobin levels in blood tests, either through colorimetric techniques or by changing hemoglobin over completely to cyanmethemoglobin for spectrophotometric examination.

The instruments category is anticipated to be the fastest growing. The newest equipment provides accurate results, high-volume testing, and automated features that increase workflow productivity. The increasing frequency of blood disorders and cancer has led to more sophisticated diagnostic demands. This increases the need for advanced equipment capable of carrying out intricate multi-parameter analyses and differentiating between cell types. Manufacturers focus on instruments with cutting-edge features like machine learning algorithms, artificial intelligence integration, and lower sample volume needs. These developments make early illness identification and effective diagnosis possible. Automated features shorten response times and minimize human mistakes.

Hematology Analyzers End User Insights

Based on End Users, the cytokine market segmentation includes hospitals, clinical laboratories, research institutes, and other end users. In 2023, the hospital's category generated the most income. Hematology analyzers are widely used in hospitals for routine blood testing, the diagnosis of various blood diseases, and the monitoring of patients' health problems. This can be due to the large patient inflow in these facilities. The need for hematology analyzers is driven by hospitals, which are important healthcare providers and have a wide range of applications requiring these instruments.

The Hematology Analyzers’ research institutes segment market is anticipated to grow fastest during the forecast period. Several factors are responsible for this increase. First off, research centers are essential for expanding medical knowledge and carrying out investigations into illnesses and abnormalities of the blood. In research labs, hematology analyzers are essential instruments for examining and evaluating blood samples. Hematology analyzers are becoming more and more in demand in this market because of the increased emphasis on research and development activities in the industry and the developing partnerships between research institutes and healthcare providers.

Figure 1: Hematology Analyzers Market by End User, 2023 & 2032 (USD Billion)

Hematology Analyzers Market by End User, 2023 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Hematology Analyzers Regional Insights

The study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World by region. The North American Hematology Analyzers market will dominate this market. This can be credited to the rising burden of blood issues and the development in the adoption of hematology analyzers by the diagnostic business. For example, as indicated by the American Culture of Hematology, sickliness, which is a typical problem, influences multiple million Americans, especially ladies of 'childbearing age. As per the Leukemia and Lymphoma Society in 2021, every three minutes, an individual in the US is determined to have blood malignant growth. An expected 186,400 individuals in the US were determined to have leukemia, lymphoma, or melanoma in 2021.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.

Figure 2: Hematology Analyzers Market Share By Region 2023 (USD Billion)

Hematology Analyzers Market Share By Region 2023

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Hematology Analyzers market accounts for the second-largest market share because there are more diagnostic clinics, and more people are becoming aware of hematological problems. Further, the German Hematology Analyzers market held the largest market share, and the UK Hematology Analyzers market was the fastest-growing market in the European region.

The Asia-Pacific Hematology Analyzers Market is expected to grow at the fastest CAGR from 2024 to 2032. This region is seeing significant expansion as a result of factors like rising healthcare costs, growing public awareness of early illness diagnosis, and an expanding patient base. Due to their vast populations and rising use of cutting-edge healthcare technology, nations like China and India are witnessing notable market development. As an illustration, Sysmex Corporation, a well-known hematology analyzer maker with headquarters in Japan, has grown to become more established in the Asia-Pacific area and has acquired a sizeable market share thanks to its dependable and cutting-edge product line. Moreover, China’s Hematology Analyzers market held the largest market share, and the Indian Hematology Analyzers market was the fastest-growing market in the Asia-Pacific region.

Hematology Analyzers Key Market Players & Competitive Insights

The industry's leading players will keep spending a lot of money on research and development to increase their product lines, which will propel the Hematology Analyzers market's growth. Contractual agreements, mergers and acquisitions, increased investments, collaboration with other companies, and the production of new products are examples of significant market developments. To increase their worldwide reach, market players also take part in a variety of strategic initiatives. In order to survive and expand in a more competitive and dynamic market, the Hematology Analyzers industry must offer reasonably priced products and services.

One of the main strategies manufacturers use in the worldwide Hematology Analyzers market is local manufacturing, which expands the market sector and helps customers by lowering operating costs. The Hematology Analyzers industry has recently provided some of the largest medical advantages. Major players in the Hematology Analyzers market, including Abbott Laboratories, Boule Diagnostics AB, Nihon Kohden Corporation, Sysmex Corporation, Horiba Ltd, F Hoffmann-La Roche Ltd, Beckman Coulter Inc. (Danaher Corporation), Bio-Rad Laboratories, Siemens Healthineers, Stratec Biomedical Systems (DIATRON), Ortho Clinical Diagnostics, Accurex Biomedical Pvt. Ltd., and others, are making investments in R&D activities in an effort to boost market demand.

Clinical gadget supplier Sysmex Corp (Sysmex) plans, creates, delivers, and markets instruments, reagents, and software projects to assist with analysis, treatment, and disease on the board. It provides clinical laboratories with testing supplies such as reagents, diagnostic equipment, and laboratory information systems. The firm provides solutions for hematology, hemostasis, and urinalysis analyzers. At its locations in Germany, the US, Japan, France, and New Zealand, it carries out research and development. Leading providers of digital hematology microscopy solutions, CellaVision AB and Sysmex Corporation, announced a strategic alliance on February 06, 2024. The goal of the alliance is to expand Sysmex's portfolio to include next-generation cell morphology analyzers and advanced hematology solutions.

The company Horiba Ltd. (Horiba) makes systems and precise instruments. Automotive mechatronics, test systems, in vitro diagnostic systems, industrial conductivity meters, gas and oxygen analyzers, monitoring devices, and other products are among the company's offerings. It provides devices for medical, semiconductor manufacturing, metrology, process and environmental monitoring, and measurement and analysis of automotive R&D. Services provided by Horiba include analysis, calibration, testing, customer assistance, maintenance, consultancy, automotive consumables and replacement parts, and training. Information technology, materials, food and beverage, energy and environment, health care, water, waste management, industry, and entertainment are just a few of the industries it supports.

Key Companies in the Hematology Analyzers market include

  • Abbott Laboratories

  • Boule Diagnostics AB

  • Nihon Kohden Corporation

  • Sysmex Corporation

  • Horiba Ltd

  • F Hoffmann-La Roche Ltd

  • Beckman Coulter Inc. (Danaher Corporation)

  • Bio-Rad Laboratories

  • Siemens Healthineers

  • Stratec Biomedical Systems (DIATRON)

  • Ortho Clinical Diagnostics

  • Accurex Biomedical Pvt. Ltd

Hematology Analyzers Industry Developments

February 2022: Abbott unveiled the first dual-chamber leadless pacemaker patient implants in history as part of its significant clinical research project, AVEIR DR i2i. One significant advancement in leadless pacing technology was the inaugural worldwide implantation of Abbott's experimental Aveir dual-chamber leadless pacemaker during the pivotal trial.

April 2022: Sysmex Europe introduced the new automated three-part differential hematology analyzer, model number XQ-320. The XQ-320 provides exceptional quality in a variety of clinical laboratory settings, combining new levels of use and strong technology. It is a stable instrument that requires little sample volume, bench space, and maintenance in Europe.

Hematology Analyzers Market Segmentation

Hematology Analyzers Product Type Outlook

  • Instruments

    • Part Hematology Analyzer

    • Part Hematology Analyzer

    • Point-of-care Testing Hematology Analyzers

    • Others

  • Reagents

  • Services

Hematology Analyzers End User Outlook

  • Hospitals

  • Clinical Laboratories

  • Research Institutes

  • Other End Users

Hematology Analyzers Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 5.5 Billion
Market Size 2024 USD 5.7 Billion
Market Size 2032 USD 7.8 Billion
Compound Annual Growth Rate (CAGR) 4.50% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, End User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea
Key Companies Profiled Abbott Laboratories, Boule Diagnostics AB, Nihon Kohden Corporation, Sysmex Corporation, Horiba Ltd, F Hoffmann-La Roche Ltd, Beckman Coulter Inc. (Danaher Corporation), Bio-Rad Laboratories, Siemens Healthineers, Stratec Biomedical Systems (DIATRON), Ortho Clinical Diagnostics, and Accurex Biomedical Pvt. Ltd.
Key Market Opportunities ·         The adoption of subscription-based and managed services models and portable/tabletop hematology analyzers
Key Market Dynamics ·         The rising prevalence of blood disorders and the growing aging population

Frequently Asked Questions (FAQ) :

The Hematology Analyzers market size was valued at USD 5.5 Billion in 2023.

The market is projected to grow at a CAGR of 4.50% during the forecast period, 2024-2032.

North America had the largest share of the market.

The key players in the market are Abbott Laboratories, Boule Diagnostics AB, Nihon Kohden Corporation, Sysmex Corporation, Horiba Ltd, F Hoffmann-La Roche Ltd, Beckman Coulter Inc. (Danaher Corporation), Bio-Rad Laboratories, Siemens Healthineers, Stratec Biomedical Systems (DIATRON), Ortho Clinical Diagnostics, and Accurex Biomedical Pvt. Ltd., among others.

The Reagents category dominated the market in 2023.

Hospitals have the largest share of the market.

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