According to the new market research report “Hematology Analyzers and Reagents Market by Products & Services (Hematology Analyzers (5 Parts, 6 Parts, 3 Part, PoC, Semi-Automated), Hemostasis, Immunohematology), Price Range (High, Low), End User (Government labs) – Global Forecast to 2023″, The global hematology products market is projected to reach USD 4.98 Billion by 2023 from USD 3.31 Billion in 2018, at a CAGR of 8.5% during the forecast period.
The increasing incidence of blood disorders and the growth in blood donation are the major factors driving the growth of the global hematology products market. Furthermore, factors such as technological advancements in hematology analyzers and reagents and integration of flow cytometry techniques with hematology analyzers are expected to support the growth of this market during the forecast period.
The hematology products and services segment is expected to register the highest growth rate during the forecast period
On the basis of products & services, the hematology analyzers and reagents market is classified into hematology, hemostasis, and immunohematology products and services. The hematology products and services segment is projected to grow at the highest growth rate during the forecast period. Factors such as the increasing adoption of POC testing hematology analyzers in emerging economies, launch of technologically advanced hematology products coupled with the increasing preference towards automation, the growing trend of the ‘reagent rental’ business model, and the rising availability of a wide range of services from major hematology providers, are driving the growth of this segment.
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Based on end user, the commercial service provider segment accounted for the largest share of the products and services market in 2017
By end user, the hematology products and services market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2017, the commercial service providers segment accounted for the largest share of the market due to the increasing awareness for hematology testing, shift from manual testing to automated testing, and competitive benefits offered by these providers as compared to hospitals (such as affordable service costs, efficient turnaround time, and efficient management for sample collection).
North America is expected to dominate the hematology products and services market in 2018
North America is estimated to account for the largest share of the market in 2018. This can be attributed to the rising incidence of patients suffering from blood disorders, growing prevalence of target diseases, and the rising demand for blood transfusions increasing the demand for hematology testing in the region.
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The major players of the global hematology analyzers and reagents market are Sysmex (Japan), Danaher (US), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland).