Hematology Diagnostics Market Growth Analysis

Market Insights

The Hematology Diagnostics Market is projected to grow from USD 5.9 billion in 2020 to USD 8.3 billion by 2026 at a CAGR of around 5.8% during the forecast period.

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What is hematology?

Hematology is defined as the study of blood, blood diseases, and blood-forming organs. Hematology treatment is used to treat certain bleeding disorders such as hemophilia and blood clots, and blood cancer. Based on product, hematology diagnostics can be categorized as hematology instruments and hematology consumables.

Key Players

Key players operating in the Hematology Diagnostics market are-

• Abbott Laboratories (US)
• Sysmex Corporation (Japan)
• F. Hoffmann-La Roche AG (Switzerland)
• Beckman Coulter Inc. (US)
• Horiba, Ltd. (Japan)
• Bio-Rad Laboratories, Inc. (US)
• Siemens Healthineers AG (Germany)
• Mindray Medical International Limited (China)
• Nihon Kohden Corporation (Japan)
• EKF Diagnostics (Germany).

Market Dynamics

The growth of the hematology diagnostics market is primarily driven by rising incidences of blood disorders. Expanding geriatric population is likely to drive the market growth further. Rising awareness among consumers relating to blood disorders is expected to augment the market growth substantially. In addition to this, increasing investment in research and development activities to develop advanced diagnostic solutions is likely to create lucrative opportunities for the players operating in the global hematology diagnostics market in the coming years.

COVID-19 Impact

The covid-19 outbreak posed significant challenges across verticals worldwide. It impacted the growth of the hematology diagnostics market negatively as the diagnostic procedures declined due to fear of coronavirus infection. Also, supply chain disruptions due to the imposition of lockdown affected the product availability on time and thus, affected the market growth. 

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Segment Analysis

End-Use Trends

The hematology diagnostics market has been bifurcated into diagnostic laboratories, hospitals & clinics, academic institutes, and others. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the presence of established infrastructure and skilled staff.

Regional Trends

The North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to expanding geriatric populace and growing emphasis on the adoption of advanced diagnostic solutions in the healthcare industry coupled with the presence of key market players such as Abbott Laboratories (US) and Beckman Coulter Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people having blood disorders.

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Target Audience

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

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

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

With this detailed report, 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

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].