Hematology Analyzer And Reagent Market Report
Hematology Analyzer and Reagent Market, By Product Type (Hematology Analysers, Hemostasis Analysers, Plasma Protein Analysers, Hemoglobin Analysers, Erythrocyte Sedimentation Rate Analyser, Coagulation Analyser, Flow Cytometers, Slide Stainers, Differential Counters, Hematology Stains), By Application (Anemia, Blood Cancer, Hemorrhagic Conditions, Infection-Related Conditions, Immune System Related Conditions, Others), By End User (Hospital Laboratories, Blood Banks, Commercial Service Providers, Government Reference Laboratories, Research & Academic Institute, Others) and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global hematology analyzer and reagent market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Hematology Analyzer and Reagent Market, By Product Type (Hematology Analysers, Hemostasis Analysers, Plasma Protein Analysers, Hemoglobin Analysers, Erythrocyte Sedimentation Rate Analyser, Coagulation Analyser, Flow Cytometers, Slide Stainers, Differential Counters, Hematology Stains), By Application ...
Impact of COVID-19 on Hematology Analyzer And Reagent Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Hematology Analyzer and Reagent Market is estimated to grow from USD 7.7 billion in 2020 to USD 11.2 billion by 2026 at a healthy CAGR of 6.6% during the forecast period.
Hematology analyzers and reagents are the healthcare products and consumables which are designed to identify and count the individual blood cells in a highly efficient & high-speed manner. These instruments have replaced the conventional methods of counting blood cells individually under a microscope which was carried out previously by the lab technicians. These devices offer more precise and efficient results about blood cells and other related information from the blood sample.
Key players operating in the hematology analyzer and reagent market are-
Increasing the volume of blood donation in combination with a strong prevalence of blood disorders are key drivers boosting the product demand. Also, robust innovations & developments in technology such as the integration of hematology analyzers with flow cytometry instrumentations are improving the market’s potential for growth. Moreover, the growing focus of market players on the development of high throughput analyzing instruments coupled with a strong focus on developing highly sensitive point-of-care test instruments and products further augment the industry growth.
Based on end-users, the market has been classified into hospital laboratories, blood banks, commercial service providers, government reference laboratories, research & academic institute, and others. The commercial service providers segment accounted for a substantial market share in 2020. The rising shift from manual testing to automated testing, the incidence of leukemia and anemia, and the competitive benefits offered by these providers when compared to hospitals, further bolstered the segment growth.
The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the strong presence of well-developed healthcare infrastructure, increasing investment in R&D activities, higher adoption of these technologies, and favorable government initiatives. Moreover, the favorable reimbursement policies, high rate of R&D activities, growing prevalence of target diseases, increasing incidence of patients suffering from blood disorders, rising demand for blood transfusions in the region, further proliferates the regional growth.
The COVID-19 outbreak positively influenced the growth of the hematology analyzer and reagent market. Rising cases of coronavirus across the globe put a heavy strain on the healthcare sector. There is a growing focus on the hematology parameters for the assessment of COVID-19 across the globe and several studies are carried out in research institutions and many of the hospitals started using the hematology analyzers to test and monitor COVID-19 patients without spreading the virus, thus boosting the market growth.
Here is the list of the group of customers that the hematology analyzers and reagents market hopes to have the greatest opportunity to convert-
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The hematology analyzer and reagent market size is expected to reach USD 11.2 billion in the foreseeable future.
Abbott Diagnostics (US), Sysmex Corporation (Japan), Beckman Coulter (US), HORIBA (Japan), Siemens AG (Germany), Bio-Rad Laboratories (US), Bayer Healthcare (Germany), Cholestech Cor-poration (US), and Heska Corporation (US) are among the key players in the hematology analyzer and reagent market.
The hematology analyzer and reagent market is expected to witness an impressive growth of 6.6% CAGR in the coming years.
The commercial service providers segment accounted for a substantial share in the hematology analyzer and reagent market in 2020.
North America is expected to remain dominant in the hematology analyzer and reagent market in the next five years.
Hematology Analyzer and Reagent distributors, Hematology Analyzer and Reagent suppliers, Hematology Analyzer and Reagent manufacturers, Hospitals, Government bodies are the target audience in the hematology analyzer and reagent market.