Report : Hematology Analyzers and Reagents Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product and Service (Hematology Products and Services, Hemostasis Products and Services, Immunohematology Products and Services); Application (Anemia, Blood Cancer, Hemorrhagic Conditions, Infection Related Conditions, Immune System Related Conditions, Other Applications); End User (Hospital Laboratories, Commercial Service Providers, Government Reference Laboratories, Research and Academic Institutes), and Geography
Increasing Incidence of Hematologic Diseases to Drive Hematology Analyzers and Reagents Market during 2020–2027
According to The Insight Partners market research study titled “Hematology Analyzers and Reagents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Service, Application, and End User,” the market is expected to reach US$ 13,007.87 million by 2027 from US$ 7,252.54 million in 2019. It is estimated to grow at a CAGR of 7.6% from 2020 to 2027. The report highlights the trends prevailing in the global hematology analyzers and reagents market and the factors driving the market along with those that act as deterrents to its growth.
Based on product and service, the global hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest market share. The same segment is also expected to dominate the market by 2027 as it has diverse testing volumes that helps deliver accurate results. Moreover, these instruments are generally used in medical laboratories to detect protein or enzymes, and count blood cells in order to help in the diagnosis of illness and genetic defects.
Increasing incidence of hematologic diseases and technological advancements in hematology analyzers are anticipated to drive the market growth during the forecast period. However, steep prices of high-tier systems are likely to restrain the market growth.
The COVID-19 pandemic is estimated to have a significant positive impact on the hematology analyzers and reagents market. Majority of the pharmaceutical companies across the world are engaged in the development of vaccines for COVID-19. Moreover, companies are now focusing on the development of the antibody-specific COVID-19 blood tests, which is anticipated to have a positive impact on the other segments of the market in the coming months. However, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth.
A few prominent players operating in the hematology analyzers and reagents market are Clinical Diagnostic Solutions, Inc.; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Danaher; BIO-RAD LABORATORIES INC.; Abbott; Diatron; ERBA Diagnostics Inc.; EKF Diagnostics; HORIBA Medical; and Biosystems S.A.
Market players are bringing new and innovative products and services to sustain their position in the hematology analyzers and reagents market. For instance, in January 2020, Beckman Coulter launched the DxH 560 AL, a tabletop analyzer geared to reduce the time and resource constraints faced by small to mid-sized laboratories. Such developments are expected to bolster the market growth during the forecast period.
Hematology Analyzers and Reagents Market, by Region, 2019 (%)
The report segments the global Hematology Analyzers and Reagents market as follows:
Hematology Analyzers and Reagents Market – by Application
Hematology Analyzers and Reagents Market – by End User
Hematology Analyzers and Reagents Market – by Geography