Global Hematology Analyzers and Reagents Market Set for Rapid Growth

The global hematology analyzers and reagents market was valued at approximately USD 2.99 billion in 2017 and is expected to generate revenue of around USD 5.09 billion by end of 2024, growing at a CAGR of around 7.90 percent between 2018 and 2024. Rising innovation in the field of pharmacogenomics, genetic therapies, bleeding disorders, stem cell research, and proteomics are anticipated to propel the hematology analyzers and reagents market. Likewise, factors such as consolidation of diagnostic laboratory chains and rising public awareness are also driving the growth of the market, and this trend is expected to continue in the years to come. The instruments segment held a major share of the hematology analyzers and reagents market owing to the growing demand for these instruments from the end users. Due to the increasing adoption rate of the automated hematology instruments along with the growing demand for highly sensitive hematology testing is likely to drive the market for instruments segment.

Also, rising developments in high-end technology like the introduction of basic cytometry techniques analyzers and the expansion of high throughput hematology analyzers is been propelling industry growth. The anemia’s application segment held the largest share of the market owing to the rising prevalence of sickle cell disease and blood-related disorders. Based on the end user, the hospitals and commercial service providers contributed for a larger pie of the market share in 2017 and are anticipated to witness the highest growth rate. Factors such as rising prevalence of blood disorders, sickle cell disease, chronic lead poisoning, cytochemistries on blood and bone marrow, chronic granulomatous disease, identification of abnormal hemoglobin’s and other such tests and treatments are mostly carried under these two segments.

Regionally, the market for hematology analyzer and reagents is segmented into North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa. North America is the leading contributor of the hematology analyzers and reagents market like anemia and cancer, development in healthcare facilities, rising healthcare awareness among the population, increase in a number of highly advanced diagnostic clinics are some of the other factors contributing to the growth for the hematology analyzer and reagents market in this region. Some of the leading players in the global market include Abbott Diagnostics, Bio-Rad Laboratories, Drew Scientific, Sysmex Corporation, Siemens AG, Bayer Healthcare, Beckman Coulter, Heska Corporation, Danaher Corporation, and Cholestech Corporation. – Zion Market Research