Global Hematology Diagnostics Market Analysis, 2021

Hematology is the branch of medicine concerned with the diagnosis, treatment, and study of the nature of the blood and bone marrow. Hematology Diagnostics help identify leukemia, anemia, hemophilia, infection, and blood-clotting disorders.

According to the publishers’ research report, “Global Hematology Diagnostics Market Analysis, 2021,” the market is likely to grow at a CAGR of around 6.9% during 2021-26. The prime factors contributing to the growth of hematology diagnostics across the globe are the technological advancements for new automated analyzers & testers and rising blood-related disorders across both children & elders. Moreover, the rising geriatric population & the number of blood disorder-related incidents are other crucial aspects likely to surge the overall market growth of hematology diagnostics across the globe.

Impact of COVID-19

The sudden outbreak of the COVID-19 pandemic has impacted most industries due to nationwide lockdown and other stringent restrictions. Initially, the Hematology Diagnostics Market faced challenges due to supply chain disruptions, movement restrictions, and varying demand for different products. However, the widespread pandemic has also pushed the Hematology Diagnostics Market into action by generating new opportunities to develop rapid COVID-19 testing kits. Hence, this aspect is very likely to propel the overall market growth in the forecast period.

Market Segmentation

Hematology Analyzer Accounted for the Largest Market Share

Based on the Product, the market bifurcates into Hematology Instruments, Hematology Analyzers, Fully-Automated Hematology Analyzers, Semi-Automated Hematology Analyzers, and Flow Cytometers. Of them all, Hematology Analyzers acquired the largest share in the Global Hematology Diagnostics Market in the previous few years. It attributes to the mounting automation and technological advancements in the field. In addition to this, rising demand for advanced instruments that can offer better reliability, sensitivity, safety, and ease of operation further propels the demand for Hematology Analyzers, cites the authors in their research report “Global Hematology Diagnostics Market Analysis, 2021”.

Reagents Dominated the Market

Based on the Consumables, the market classifies them into Reagents, Stains, Controls, and Calibrations. Among these segments, Reagents dominated the Global Hematology Diagnostics Market with a significant share in the previous few years. It mainly owes to the increasing diagnosis of blood disorders and other types of infections. Besides, rising awareness regarding the diagnosis process and early detection has led to aid the number of tests, thereby propelling the segment growth.

Regional Landscape

North America Leads the Market with the Highest Share

Geographically, North America has been leading the Global Hematology Diagnostics Market with the highest share for the past few years, primarily due to the abundant presence of diagnostic centers. In addition to this, an increase in the investments to enhance research and development activities and burgeoning adoption of technologically advanced diagnostics are other essential aspects driving the Global Hematology Diagnostics Market in North America.

Market Drivers

Rising Incidences of Blood-Related Diseases to Boost the Market

The surging blood-related disorders like anemia, blood cancer, hemophilia, and blood clots among children and elders are the prime factors likely to fuel the Global Hematology Diagnostics Market. Additionally, the growing world population suffering from different Hemoglobinopathies is another crucial aspect that shall boost the overall market growth globally in the forecast period.

Market Challenges

Unfavorable Reimbursement Policies

The prime factors restraining the market growth are inadequate healthcare insurance coverage and the high cost of diagnostic procedures. In addition to this, the lack of awareness regarding the diagnostic processes and stringent reimbursement policies are other critical aspects that could hinder the overall market growth during the forecast period.

Competitive Landscape

According to the publishers, the major leading players in the global Hematology Diagnostics market are Abbott Laboratories, Mindray Medical International, Siemens Healthneers, BioSystems, BioRad Laboratories, Horiba, Sysmex Corporation, Nihon Kohden Corporation, Danaher Corporation, F. Hoffman-La-Roche Ltd., etc.

Key Questions Answered in the Market Research Report:

1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Hematology Diagnostics Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Hematology Diagnostics Market?
4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Hematology Diagnostics Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Hematology Diagnostics Market study?