The increasing incidence of blood disorders and the growth in the number of blood donation are the major factors driving the growth of the global hematology analyzers and reagents market. Technological advancements in hematology analyzers and reagents and the integration of flow cytometry techniques with hematology analyzers are also expected to support the growth of this market during the forecast period.
The global hematology analyzers and reagents market size is expected to reach USD 10.6 billion by 2025 from USD 7.6 billion in 2020, at a CAGR of 6.9%.
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Market Segmentation: -
On the basis of products & services, the hematology analyzers and reagents market is classified into hematology, hemostasis, and immunohematology products & services. The hematology products & services segment is projected to grow at the highest growth rate during the forecast period. Factors such as the increasing adoption of POC testing hematology analyzers in emerging economies, the launch of technologically advanced hematology products, the increasing preference for 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.
By end user, the hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2019, the commercial service providers segment accounted for the largest share of the market due to factors such as the increasing awareness about hematology testing, shift from manual testing to automated testing, and the competitive benefits offered by these providers as compared to hospitals (such as affordable service costs, efficient turnaround time, and efficient management of sample collection).
Regional Analysis:
North America accounted for the largest share of the market in 2019. This can be attributed to the rising incidence of patients suffering from blood disorders, the growing prevalence of target diseases, and the rising demand for blood transfusions in the region.
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Top Key Players: -
The major players in the global hematology analyzers and reagents market are Sysmex Corporation (Japan), Abbott Laboratories (US), Danaher Corporation (US), Nihon Kohden (Japan), Siemens (Germany), 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).