Hematology Diagnostics Industry Overview
The global hematology diagnostics market size is expected to reach USD 9.39 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.85% over the forecast period. Increasing prevalence of blood disorders coupled with adoption of automated testing processes are projected to propel the market growth.
Automation of hematology diagnostics process have led to reduced turnaround time thereby accelerating the overall treatment regimen. Furthermore, automation has also led to reduced administrative errors and overall costs of diagnostic tests. Thus, it is expected to boost growth of the hematology testing market in the forthcoming years.
The advent of Point-Of-Care (PoC) hematology testing devices has led to improved diagnostic and patient outcomes. These devices are user-friendly and are available for use outside the hospital settings. This is anticipated to increase the acceptability and accessibility of hematology testing which, in turn, is anticipated to propel market growth.
Hematology Diagnostics Market Segmentation
Grand View Research has segmented the global hematology diagnostics market based on product, end-use, test type, and region:
Based on the Product Insights, the market is segmented into Instrument, Consumables.
- Consumables segmented is anticipated to maintain its dominance over the forecast period. This can be attributed to increased demand for consumables owing to rise in diagnosis of blood disorders and other infections.
- The instrument segment is further divided into analysers, flow cytometers, and others. Analysers dominated the segment revenue in 2017. Technological advancements and increasing automation are anticipated to be the primary growth drivers for this segment.
Based on the End-use Insights, the market is segmented into Hospitals, Diagnostic labs, Others.
- Hospital held the dominant end use segment in 2017. Diagnostic labs segment, on the other hand, is anticipated to expand at a rapid pace over the forecast period.
- Increasing number of diagnostic centers and availability of advanced instruments are anticipated to fuel the demand. Furthermore, automation of diagnostic instruments is projected to reduce the cost of these tests and thus, drive the demand.
Based on the Test Type Insights, the market is segmented into Blood count, Platelet function, Hemoglobin, Hematocrit.
- Blood count held the largest market share in terms of revenue in 2017 and is anticipated to expand at a lucrative CAGR over the forecast period. Complete Blood Count (CBC) tests are useful for general evaluation of health during routine check-ups.
- Several conditions such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests. Abnormal CBC test results prompt other non-hematological confirmatory tests, which may diagnose diseases such as long-term infections, acute infectious diseases, blood cancers, bone marrow and autoimmune disorders, liver and spleen diseases, and other malignancies. Such broad scope of application is anticipated to fuel the market growth.
Hematology Diagnostics Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
New product developments, mergers and acquisitions, and collaborations are some of the major strategies adopted by these players to counter the stiff competition.
Some prominent players in the global hematology diagnostics market include
- Beckman Coulter, Inc.
- Siemens Healthineers
- Mindray Medical International Limited
- Hoffmann-La Roche Ltd.
- Sysmex Corporation
Order a free sample PDF of the Hematology Diagnostics Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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