Segments - Hematology Diagnostics Market by Products (Instruments [Flow Cytometers, Analyzers, and Others] and Consumables [Stains, Reagents, and Others]), Test Types (Hemoglobin, Blood Count, Hematocrit, and Platelet Function), End-users (Diagnostic Labs, Hospitals, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028
The global hematology diagnostics market size was valued at USD 6.85 billion in 2020 and is expected to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increase in the incidence of blood disorders.
Hematology, as a branch of medical, deals with the study of blood and its components. Hematology diagnostics involves a range of screening process to detect any disorder in blood-forming organs, and identify blood diseases of a patient. Various blood diseases can be diagnosed using hematological tests and some of the key blood disorders are leukemia, thalassemia, anemia, blood-infections, blood-clotting disorders, and others. Moreover, Anemia is a type of disease that is most commonly noticeable among women and is primarily caused due to deficiency of iron, destruction of red blood cells, and others.
The outbreak of COVID-19 pandemic had a positive impact on the global hematology diagnostic market owing to the fact that several governments across the globe needed to boost their existing diagnostic facilities and kits as thousands of millions of their citizens were affected by the SARS-CoV2 virus. Various hematology parameters are widely considered for the diagnosis of COVID-19. According to an article published in 2020 in the International Journal of Laboratory Hematology, the clinical hematology laboratory is useful in the determination of progression of disease in the patient’s body by finding, leukocytosis, lymphopenia, thrombocytopenia, and neutrophilia, which are commonly found when a person is suffering from SARS-CoV2 virus.
The report on the global hematology diagnostics market includes an assessment of the market, trends, segment, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Hematology Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018-2019 |
Forecast Period |
2021-2028 |
Segmentation |
Products (Instruments [Flow Cytometers, Analyzers, and Others] and Consumables [Stains, Reagents, and Others]), Test Types (Hemoglobin, Blood Count, Hematocrit, and Platelet Function), and End-Users (Diagnostic Labs, Hospitals, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Beckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Ltd.; F. Hoffmann-La Roche Ltd.; and Sysmex Corp. |
On the basis of products, the market is bifurcated into instruments and consumables. The instruments segment is further divided into flow cytometers, analyzers, and others while the consumable segment is divided into stains, reagents, and others. The instruments segment is projected to hold a key share of the market owing to the advancement of technology and automation adoption as they provide better results in terms of reliability, sensitivity, and others. However, the consumable segment is anticipated to dominate the market during the forecast period owing to an increase in the diagnosis of blood infections and blood disorders.
Based on types, the global hematology diagnostics market is categorized as hemoglobin, blood count, hematocrit, platelet function. The blood count segment held a key share in the market in 2020 and is expected to expand at a considerable growth rate during the forecast period. The segment growth can be attributed to the fact that these tests are widely adopted as the report of the tests are useful during health routine checkups and diseases treatment such as blood infections, Anemia, and others. If the results of blood count tests detect the abnormal functions and growth of blood cells, a range of hematology tests can be performed to diagnose several blood-related diseases such as blood cancer, long-term infections, liver diseases, and others. These factors are anticipated to boost the segment growth.
On the basis of end-users, the market is segmented into diagnostic labs, hospitals, and others. The hospital segment is anticipated to hold a dominant share of the market during the projected period owing to wide availability of advanced diagnostic equipment and presence of well-qualified medical staff including doctors, nurses, and technicians in hospitals. However, the diagnostic labs segment is expected to exhibit a robust growth pace due to the development of advanced technology of clinical equipment, easy availability of diagnostic kits, and rising expansion of diagnostic labs across the globe. The advancement of technology is also expected to lower the cost of tests and lead them towards automation that can improve the accuracy and effectiveness of testing results.
In terms of region, the global rapid medical diagnostic kits market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. North America held a key share of the market in 2020 and is expected to register a substantial CAGR during the forecast period owing to the increasing elderly population, rise in prevalence of blood disorders, increase in advancement of technology, and launch of new products. According to statistics published by the American Cancer Society in 2021 for Lukemia, around 61,000 cases were registered along with 23,000 deaths from Lukemia alone in the United States.
On the other hand, the market of Asia Pacific is expected to grow at a fast CAGR due to increase in per capita income of people and rising cases of blood disorders among a large number of the population in the region. Several healthcare initiatives taken by governments across the region along with the adoption of technology in diagnostic equipment by regional market players are anticipated to propel the regional market growth in the coming years.
Key players competing in the global hematology diagnostic market are Beckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Ltd.; F. Hoffmann-La Roche Ltd.; and Sysmex Corp. Many of these players have adopted business strategies such as launching new products, introducing new technology, mergers, partnerships, and production capacity expansion to increase their market position and expand their consumer base globally.