Hematology Analyzer and Reagent Market Growth Analysis

Market Insights

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.

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What are hematology analyzers and reagents?

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

Key players operating in the hematology analyzer and reagent market are-

• Abbott Diagnostics (US)
• Sysmex Corporation (Japan)
• Beckman Coulter (US)
• HORIBA (Japan)
• Siemens AG (Germany)
• Bio-Rad Laboratories (US)
• Bayer Healthcare (Germany)
• Cholestech Corporation (US)
• Heska Corporation (US).

Market Dynamics

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.

COVID-19 Impact

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.

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Segments' Analysis

End-User Trends

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.

Regional Trends

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.?

Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.?

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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