Hematology Analyzers and Reagents Market Size, Share & Trends by Product (Instrument, Reagent, Consumable, Service), Price, Application, End User - Global Forecast to 2029
The global hematology analyzers and reagents market is projected to reach USD 8.8 billion by 2029 from USD 6.6 billion in 2024, growing at a CAGR of 6.1% during the forecast period. The technological advancements of hematology analyzers and reagents methods are one of the major factors anticipated to boost market growth in the forecasting years. Additionally, the high cost of hematology analyzers and reagents, the lack of skilled professionals in emerging countries, along the slow adoption of advanced hematology instruments in emerging economies affect the growth of the hematology analyzers and reagents market.
Scope of the Report
Years Considered for the Study
2022-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million)
Segments
Product and Services, Prize Range, Application, End user, and Region
Regions covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
"The hematology products and services segment to hold the largest share of the market in 2024."
Based on product and services, hematology analyzers and reagents are segmented into hematology products and services, hemostasis products and services and immunohematology products and services. The hematology products & services segment is expected to dominate the hematology analyzers and reagents market during the forecast period. Further the hematology products & services segment is divided into three sub-segments: instruments, reagents and consumables and services. With the increasing adoption of POC testing hematology analyzers in emerging economies and the launch of technologically advanced hematology products worldwide leads to the growth of this market segment.
"The low-range hematology analyzers segment to hold the largest share of the market in 2024."
Based on price range, the hematology analyzers and reagents market is segmented into high-range hematology analyzers, mid-range hematology analyzers and low-range hematology analyzers. The hematology analyzers and reagents market is expected to be dominated by the low-range hematology analyzers segment during the forecast period. The low-range hematology analyzers are expected to grow due to their affordable costing compared to high-range hematology analyzers and mid-range hematology analyzers
"The standalone analyzers segment to hold the largest share of the market in 2024."
Based on the usage type, the hematology analyzers and reagents market is segmented into standalone analyzers and point-of-care analyzers segments. The standalone analyzers segment is projected to dominate the hematology analyzers and reagents market throughout the forecast period. Growing adoption of these systems in acute care settings for hospitals and reference laboratories. leads to the increasing growth of the segment in the market.
"The commercial service providers segment to hold the largest share of the market in 2024."
The end user market is segmented into commercial service providers, hospital laboratories, government reference laboratories, and research & academic institutes. Commercial service providers accounted for the largest share of the global hematology analyzers and reagents market in 2023 during the forecasted years. This can be attributed to the attributed to the growing outsourcing of R&D activities to commercial service providers especially in emerging economies.
"The market in the APAC region is expected to register highest growth rate for hematology analyzers and reagents in 2024."
The hematology analyzers and reagents market covers five key geographies-North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2023, a significant market share for hematology analyzers and reagents was held by the market in the North American region, comprising the US and Canada. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. The increasing market penetration opportunities in emerging APAC countries led to the growth of the hematology analyzers and reagents market in this region.
A breakdown of the primary participants referred to for this report is provided below:
By Company Type: Tier 1- 25%, Tier 2- 30%, and Tier 3- 45%
By Designation: D-level- 30%, C- Level- 23%, and Others- 47%
By Region: North America- 40%, Europe- 30%, Asia Pacific- 22%, Latin America- 6%, MEA- 2%
The prominent players in the hematology analyzers and reagents market are F. Hoffmann-La Roche Ltd (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Diatron (Hungary), Drew Scientific (US), Siemens Healthineers (Germany), Sysmex Corporation (Japan), Bio-Rad Laboratories, Inc. (US), Horiba Ltd. (Japan), Nihon Kohden Corporation (Japan), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), BioSystems (Spain), and QuidelOrtho Corporation (US), among others.
Research Coverage
This report studies the hematology analyzers and reagents market based on product and services, price range, application, modality, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their market presence.
This report provides insights on the following pointers:
Analysis of key drivers (Increasing need for technological advancements, Integration of hematology analyzers with flow cytometry, Increasing number of blood donations), restraints (High costs associated with advanced hematology analyzers), opportunities (Increased awareness among end users about advanced hematology analyzers, Increasing market penetration opportunities in emerging countries, Emergence of microfluidics), and challenges (Stringent and time-consuming regulatory process) influencing the growth of the hematology analyzers and reagents market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the hematology analyzers and reagents market
Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and service developments in the hematology analyzers and reagents market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new services, growing geographies, and recent developments in the hematology analyzers and reagents market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and services of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 YEARS CONSIDERED
1.3.3 CURRENCY CONSIDERED
1.4 MARKET STAKEHOLDERS
1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of secondary sources
2.1.2 PRIMARY DATA
2.2 MARKET ESTIMATION METHODOLOGY
2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
2.2.2 PRODUCT-BASED MARKET ESTIMATION
2.2.3 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION AND MARKET BREAKDOWN
2.4 RESEARCH ASSUMPTIONS
2.4.1 STUDY ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
2.6 RISK ASSESSMENT
2.6.1 RISK ASSESSMENT ANALYSIS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 HEMATOLOGY ANALYZERS AND REAGENTS MARKET OVERVIEW
4.2 ASIA PACIFIC: HEMATOLOGY ANALYZERS AND REAGENTS MARKET, BY PRODUCT AND COUNTRY (2023)
4.3 HEMATOLOGY ANALYZERS AND REAGENTS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES