Hematology Diagnostics Market - By Product (Instruments, Consumables), By Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), By End-use (Hospitals, Diagnostic Laboratories) & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHematology Diagnostics Market - By Product (Instruments, Consumables), By Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), By End-use (Hospitals, Diagnostic Laboratories) & Forecast, 2023 – 2032
Hematology Diagnostics Market Size
Hematology Diagnostics Market size was valued at around USD 3.8 billion in 2022 and is projected to register 4.7% CAGR between 2023 and 2032. Increasing prevalence of chronic conditions including blood and blood disorders along with technological advancements pertaining to hematology diagnostics is expected to foster the industry trends.
The introduction of highly advanced haematology analysers, increasing utilisation of flow cytometry tests, and a surge in demand for the sophisticated point-of-care haematology analysers will aid in the overall business share. Additionally, factors such as the rising number of diagnostic laboratories, the growing aging population affected by chronic conditions, and increased patient awareness. Moreover, innovative strategies and collaboration is one of the main methods used by market participants to maintain competitiveness and have a diverse product portfolio.
Hematology diagnostics is intended for the diagnosis and treatment of diseases of the blood and blood-forming tissues. These tests help to evaluate the various components of the blood, such as red blood cells, white blood cells, and platelets, as well as the clotting factors and other proteins involved in blood function. Hematology diagnostics help to identify and diagnose various blood disorders, such as anemia, leukemia, lymphoma, clotting disorders, and other conditions affecting the blood and bone marrow.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Hematology Diagnostics Market Size in 2022 | USD 3.8 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.7% |
| 2032 Value Projection | USD 5.9 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 364 |
| Segments covered | Product, Test Type, End-use, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
COVID-19 Impact
The COVID-19 pandemic has dealt a blow to the blood testing industry, especially in the early months of 2020. The huge demand for COVID-19 tests meant that other blood tests and screenings had to take a backseat. With the virus running rampant, people were afraid to go to hospitals and clinics for non-urgent care. Endoscopies and other procedures were put on hold to avoid the risk of infection. All this led to a sharp drop in sales of reagents used in blood tests, as there were fewer blood transfusions and screenings being done. But as the pandemic eased and COVID-19 cases fell, the blood testing industry has bounced back. The volume of blood tests being done has gone up, and this has helped the market to grow again in 2021.
Hematology Diagnostics Market Trends
The number of health issues, such as blood disorders and infections caused by viruses, bacteria, or fungi, is on the rise. This is leading to a surge in the need for tests that can diagnose these conditions. Other factors contributing to this increase includeA growing elderly population, who are more likely to have chronic diseases like high blood pressure or heart problems. The rise of lifestyle diseases, such as obesity and diabetes. Advances in testing technologies, making it easier and faster to diagnose blood-related conditions. A higher demand for testing that can be done at a patient's bedside or in a doctor's office. An increase in the number of laboratories and skilled staff available to perform these tests. As a result of all these factors, the number of hematology diagnostics procedures is expected to grow significantly, leading to increased revenue for companies in this industry.
Hematology Diagnostics Market Analysis
Based on product, hematology diagnostics market is segmented as instruments and consumables. Instruments segment accounting for more than 62% of the total industry share in 2022. The instruments segment is poised to highlight substantial growth rate through during the estimated timeframe due to surged usage of diagnostic instruments. Several clinical benefits offered by instruments in blood screening and diagnostics such as faster test results, precise blood testing, and availability of wide range of tests, among others. Functionality as well as high accuracy provided by hematology diagnostics instruments will rise its demand in the coming years.
Imagine you're at a bustling market, where each stall specializes in a different aspect of blood testing. You'll find stalls for counting blood cells, checking platelet function, and measuring hemoglobin and hematocrit (the proportion of red blood cells in your blood). Among these stalls, the one selling blood count tests is expected to boom over the next decade. That's because more and more people are suffering from blood-related illnesses, so there's a growing demand for these tests. Plus, as more doctors see the value in these tests, they're becoming more popular. These tests aren't just for counting red or white blood cells and platelets. They give doctors a snapshot of your overall health and any diseases you might have. They're also crucial for monitoring cancer treatment. By tracking changes in your white blood cell and platelet counts, doctors can see how well your treatment is working and adjust it if needed.
The hematology diagnostics market caters to different settings, such as hospitals, specialized labs, and other healthcare facilities. Hospitals have dominated this market, accounting for over USD 1.9 billion in 2022. Why hospitals? Because they offer top-notch equipment, convenient medical access, handle a high volume of surgeries, and provide prompt care. Routine blood tests, urine screenings, and other common diagnostics are readily available at hospitals, making them a go-to choice for patients. The market growth is further boosted by the use of cutting-edge machines and supplies in hematology diagnostics. As healthcare spending rises around the world, people are more likely to embrace these products. With the prevalence of diseases on the rise, the demand for hematology diagnostics in hospitals has skyrocketed. These factors collectively contribute to the booming market in this sector.
The United States has been the big fish in the North American hematology diagnostics market, holding most of the sales in 2022. By 2032, it's estimated to be worth a whopping $2.1 billion! This growth is being fueled by a bunch of companies that are coming up with new and improved tests to help doctors keep tabs on their patients' health. Another plus is the growing number of older folks, who are more likely to have chronic diseases that need to be closely monitored. And let's not forget the government, which has some nice programs in place to support this industry. Plus, as more and more people get older, there's a higher chance of them getting blood-related diseases like anemia or leukemia. So, there's a big demand for these tests to diagnose and manage these conditions effectively.
Hematology Diagnostics Market Share
Some of the major players operating in the hematology diagnostics market are
- Abbott Laboratories
- BAG Healthcare Ltd
- Beckman Coulter Inc
- Bio Rad Laboratories
- BioSystems
- Boule Diagnostics
- Danaher Corporation
- Diatron
- F. Hoffmann-La Roche Ltd
- HemoCue AB
- HORIBA
- Mindray
- Medical International Limited
- Nihon Kohden
- Ortho Clinical Diagnostics
- Siemens Healthcare
- Sysmex Corporation
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Hematology Diagnostics Industry in News
- In January 2021, F. Hoffmann-La Roche Ltd. announced a strategic partnership with Sysmex Corporation for the distribution of Sysmex haematology products, including instruments and reagents. Additionally, Roche is committed to support improvements in haematology testing for the diagnosis and treatment of several blood disorders. Thus, this strategic partnership helped the company to enhance their market presence and increase their customer base.
Hematology diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments
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By Product
- Instruments
- Consumables
By Test Type
- Blood Count
- Platelet function
- Hemoglobin
- Hematocrit
- Others
By End-use
- Hospitals
- Diagnostic Laboratories
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Poland
- Switzerland
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Philippines
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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