Hematology Analyzers and Reagents Market to Worth 4.98 Billion USD by 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 percent. 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. The hematology products and services segment is projected to grow at the highest growth rate. 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.

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 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.

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). – MarketsandMarkets