Hematology diagnostics market to reach USD 16.87B by 2032

Allied Market Research published a report, titled, “Hematology diagnostics market by product type (Hematology instrument and hematology consumables), test type (Complete Blood Count (CBC), platelet function testing, hemoglobin testing and others), end user (Hospitals and clinics, diagnostic laboratories and others): Global opportunity analysis and industry forecast, 2023-2032”. The global hematology diagnostics market was valued at $10.94 billion in 2022 and is projected to reach $16.87 billion by 2032, registering a CAGR of 4.4% from 2023 to 2032.

Prime determinants of growth
The global hematology diagnostics market is experiencing rapid growth owing to the significant rise in the number of chronic diseases around the world. Diseases such as anemia, leukemia, lymphoma, and other blood disorders are becoming more common and require regular monitoring and diagnostics in hematology. In addition, people are more aware of their health and how important it is to detect diseases early. As a result, there is an increase in demand for health screening and diagnostics procedures. Also, people are more likely to have routine checkups and blood-related tests. This has led to an increase in the demand for hematological diagnostic supplies.

The hematology consumables segment to maintain its leadership status throughout the forecast period
Based on product type, the hematology consumables segment held the highest market share in 2022, accounting for more than four-fifths of the global hematology diagnostics market revenue. The key driver for the growth of the segment is the frequent need for a large number of high-quality consumables for hematological testing.

On the other hand, the hematological instrument segment is anticipated to be the fastest-growing segment during the forecast period. This growth is mainly attributed to the advancements that take place in instruments such as hematology analyzers and flow cytometers.

The complete blood count (CBC) segment to maintain its lead position during the forecast period
Based on test type, the complete blood count (CBC) segment accounted for the largest share in 2022, accounting for two-fifths of the global hematology diagnostics market revenue, and is anticipated to be the fastest-growing segment during the forecast period. The growth is mainly attributed to the significant number of CBC tests that are carried out around the globe.

The diagnostic laboratories segment to maintain its lead position during the forecast period
Based on end user, the diagnostic laboratories segment dominated the market in terms of revenue in 2022, accounting for nearly half of the global market. This growth is attributed to advanced and sophisticated testing facilities equipped with a wide range of hematology diagnostic instruments and skilled hematologists, pathologists, and technicians.

On the other hand, the hospitals and clinics segment is anticipated to be the fastest growing segment during the forecast period. The growth is attributed to the rising adoption of highly advanced instruments in hospitals and surge in inpatient hematological testing.

North America to maintain its dominance by 2032
North America dominated the market in 2022, accounting for nearly two-fifths share of the global market, owing to the well-established healthcare infrastructure and availability of highly advanced medical diagnostics facilities in this region.

On the other hand, Asia-Pacific is anticipated to be the fastest growing segment during the forecast period, which is attributed to rising healthcare expenditure, and developing healthcare infrastructure. In addition, the large population base is also contributing to increased hematological testing in this region.

Leading market players:

• Cardinal Health Inc.
• Danaher Corporation
• Siemens AG
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• F. Hoffmann-La Roche Ltd.
• Sysmex Corporation
• Abbott Laboratories
• EKF Diagnostics Holdings plc
• Nihon Kohden Corporation
• Erba Group.

Allied Market Research