Hemoglobin Monitor Market Size, Share & Trends Growth [2032]
Hemoglobin Monitor Market Size, Share & Trends Growth [2032]
Segments - Hemoglobin Monitor Market by Product Type (Handheld Hemoglobin Monitors Tabletop Hemoglobin Monitors, Portable Hemoglobin Monitors, Wireless Hemoglobin Monitors, and Others), Applications (Clinical Diagnostics, Research and Development, Point-of-Care Testing, Home Use, and Others), End-User (Hospitals and Healthcare Facilities, Clinical Laboratories, Research Institutions, Pharmaceutical Companies, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2024 – 2032
Upcoming
| Report ID :HC-6557
| 4.7 Rating
| 90 Reviews
| 264 Pages
| Format :
Report Description
The global hemoglobin monitor market size was USD 1.4 Billion in 2023 and is likely to reach USD 2.8 Billion by 2032, expanding at a CAGR of 7.9% during 2024–2032. The market growth is attributed to the growing demand for point-of-care testing and technological advancements.
Hemoglobin Monitor Market refers to the global market for devices and systems that measure the level of hemoglobin in a patient's blood. Hemoglobin monitors are medical devices that use various technologies, such as spectroscopy or chromatography, to measure the concentration of hemoglobin in a patient's blood. These devices are used in hospitals, clinics, and research institutions to diagnose and monitor various blood disorders, such as anemia, sickle cell disease, and thalassemia. For instance,
-
In January 2023, A recent study published in the Egyptian Journal of Anesthesia has reported the findings of a prospective study that evaluated the accuracy of non-invasive, continuous hemoglobin monitoring using Masimo's SpHb technology in patients undergoing elective Caesarean Section (CS) with antepartum hemorrhage.
Hemoglobin monitors are significant as they provide healthcare professionals with accurate and reliable information about a patient's hemoglobin levels. This information is crucial for diagnosing and managing blood disorders, as well as for monitoring the effectiveness of treatment. Hemoglobin monitors are also used in research settings to study the genetic and molecular mechanisms underlying blood disorders.
The significance of hemoglobin monitors extends beyond their use in clinical settings. They also play a critical role in advancing our understanding of blood disorders and the development of new treatments. In addition to their clinical and research applications, hemoglobin monitors are also significant as they have the potential to improve patient outcomes and reduce healthcare costs. By providing accurate and timely information about a patient's hemoglobin levels, hemoglobin monitors help healthcare professionals make informed decisions about treatment and improve patient outcomes
Impact of Artificial Intelligence (AI) in Hemoglobin Monitor Market
AI-powered hemoglobin monitors provide more accurate results, reducing the risk of errors and improving patient outcomes. AI automates tasks, such as data analysis and reporting, freeing up healthcare professionals to focus on more complex and high-value tasks. Moreover, the AI-powered hemoglobin monitors provide patients with more accurate and personalized information about their health, improving patient engagement and empowerment.
Hemoglobin Monitor Market Dynamics
Major Drivers
Growing demand for point-of-care testing is driving the global market. Point-of-care diagnostics allows healthcare professionals to quickly and accurately diagnose and monitor blood disorders, such as anemia and sickle cell disease. Furthermore, the technological advancements are expected to propel the market. These advances have improved the accuracy and efficiency of hemoglobin monitoring, making it more accessible and convenient for healthcare professionals. For instance,
-
In August 2023, a noninvasive hemoglobin monitoring study in pediatric patients undergoing orthopedic surgery was performed. The primary objectives of this study are to validate the accuracy and efficacy of non-invasive hemoglobin monitoring in pediatric patients undergoing orthopedic surgery.
Existing Restraints
High cost of hemoglobin monitors is a significant restraint in the market. Hemoglobin monitors are expensive devices that require significant investment, which are a barrier to adoption for some healthcare providers. Additionally, the limited availability of hemoglobin monitors in some regions is restraining the market.
Emerging Opportunities
Integration of AI and ML in hemoglobin monitors is an emerging opportunity. AI and ML improves the accuracy and efficiency of hemoglobin monitoring, making it more accessible and convenient for healthcare professionals. Additionally, the increasing adoption of remote patient monitoring is an emerging opportunity. Hemoglobin monitors are used for remote patients monitor, improving patient outcomes and reducing healthcare costs.
Scope of the Hemoglobin Monitor Market Report
The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Hemoglobin Monitor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2023 |
|
Historic Data |
2017–2022 |
|
Forecast Period |
2024–2032 |
|
Segmentation |
Product Type (Handheld Hemoglobin Monitors, Tabletop Hemoglobin Monitors, Portable Hemoglobin Monitors, Wireless Hemoglobin Monitors, and Others), Applications (Clinical Diagnostics, Research & Development, Point-of-Care Testing, Home Use, and Others), and End-user (Hospitals & Healthcare Facilities, Clinical Laboratories, Research Institutions, Pharmaceutical Companies, 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, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Bayer; GE; Hill-Rom Holdings; Masimo; Medtronic; Nihon Kohden; Omron Healthcare; Philips; Siemens; and Smith’s Group |
Market Segment Insights
Regional Analysis
In terms of region, the global hemoglobin monitor market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominates the global market in 2023 owing to the large patient population. Moreover, the growing healthcare infrastructure and increasing demand for diagnostic equipment is fueling the regional market. Additionally, Asia Pacific has a growing middle class, which is driving the demand for healthcare services and diagnostic equipment.
The market in North America is projected to grow at a significant pace in the years to come owing to the high demand for diagnostic equipment. Furthermore, the high adoption rate of hemoglobin monitors is boosting the regional market. The government of North America is providing initiatives and funding to support the development and adoption of hemoglobin monitors, driving the regional market.
Segment Analysis
Product Type Segment Analysis
Based on product type, the hemoglobin monitor market is divided into handheld hemoglobin monitors, tabletop hemoglobin monitors, portable hemoglobin monitors, wireless hemoglobin monitors, others. The handheld hemoglobin monitors segment held the largest share in the global market in 2023 owing to the convenience and ease of use. Moreover, the cost-effectiveness of handheld monitors is expected to boost the segment during the projection period. Handheld hemoglobin monitors are generally more affordable than tabletop or wireless monitors, making it widely adaptable in various healthcare settings.
The tabletop hemoglobin monitor segment is anticipated to grow at a substantial CAGR during the forecast period due to its higher accuracy. Tabletop hemoglobin monitors are often considered more accurate than handheld devices, as they are typically designed for laboratory use and are equipped with more advanced technology. Furthermore, the high throughput and its suitability in various laboratory settings is propelling the segment.
Applications Segment Analysis
On the basis of applications, the global market is segregated into clinical diagnostics, research & development, point-of-care testing, home use, and others. The clinical diagnostics segment is anticipated to register a considerable CAGR in over the projected period due to its widespread adoption in hospitals and clinics. Moreover, the higher demand for point-of-care testing is fueling the segment. Furthermore, the growing need for accurate diagnosis is further driving the segment significantly.
The research & development segment is projected to register a robust growth rate during the assessment years owing to the growing demand for research0grade instruments. Moreover, the advancements in hemoglobin research are driving the demand for advanced hemoglobin monitors to accurately measure hemoglobin levels and detect genetic mutations.
End-user Segment Analysis
On the basis of end-user, the hemoglobin monitor market is segmented into hospitals & healthcare facilities, clinical laboratories, research institutions, pharmaceutical companies, and others. The hospitals & healthcare facilities segment register a robust growth rate in 2023 due to the widespread adoption in hospitals. Additionally, the high demand for accurate and point-of-care diagnostics is expected to drive the segment during the forecast period.
The clinical laboratories segment is expected to expand at a significant growth rate over the projection period due to the high demand for laboratory testing. Moreover, the growing need for automation is boosting the segment. Clinical laboratories are adopting automation in their testing processes including the use of hemoglobin monitors to automate the testing process.
Segments
The hemoglobin monitor market has been segmented on the basis of
Product Type
- Handheld Hemoglobin Monitors
- Tabletop Hemoglobin Monitors
- Portable Hemoglobin Monitors
- Wireless Hemoglobin Monitors
- Others
Applications
- Clinical Diagnostics
- Research & Development
- Point-of-Care Testing
- Home Use
- Others
End-user
- Hospitals & Healthcare Facilities
- Clinical Laboratories
- Research Institutions
- Pharmaceutical Companies
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Bayer
- Bosch
- GE
- Hill-Rom Holdings
- Masimo
- Medtronic
- Nihon Kohden
- Omron Healthcare
- Philips
- Siemens
- Smith’s Group
Competitive Landscape
Key players competing in the global hemoglobin monitor market are Bayer; GE; Hill-Rom Holdings; Masimo; Medtronic; Nihon Kohden; Omron Healthcare; Philips; Siemens; and Smith’s Group.
-
In November 2021, the Bosch Hemoglobin Monitor Solution offered a rapid and convenient point-of-care testing experience, where users simply place their finger on the device and receive instant results. This non-invasive and painless approach, with a zero-infection promise, enables users to quickly and accurately classify anemia and predict hemoglobin values, giving them direct control over their health.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Hemoglobin Monitor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Hemoglobin Monitor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hemoglobin Monitor Market - Supply Chain
4.5. Global Hemoglobin Monitor Market Forecast
4.5.1. Hemoglobin Monitor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hemoglobin Monitor Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Hemoglobin Monitor Market Absolute $ Opportunity
5. Global Hemoglobin Monitor Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Hemoglobin Monitor Market Size and Volume Forecast by Applications
5.3.1. Clinical Diagnostics
5.3.2. Research & Development
5.3.3. Point-of-Care Testing
5.3.4. Home Use
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Hemoglobin Monitor Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Hemoglobin Monitor Market Size and Volume Forecast by End Users
6.3.1. Hospitals & Healthcare Facilities
6.3.2. Clinical Laboratories
6.3.3. Research Institutions
6.3.4. Pharmaceutical Companies
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Hemoglobin Monitor Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Hemoglobin Monitor Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Hemoglobin Monitor Demand Share Forecast, 2019-2026
8. North America Hemoglobin Monitor Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Hemoglobin Monitor Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Hemoglobin Monitor Market Size and Volume Forecast by Applications
8.4.1. Clinical Diagnostics
8.4.2. Research & Development
8.4.3. Point-of-Care Testing
8.4.4. Home Use
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. North America Hemoglobin Monitor Market Size and Volume Forecast by End Users
8.7.1. Hospitals & Healthcare Facilities
8.7.2. Clinical Laboratories
8.7.3. Research Institutions
8.7.4. Pharmaceutical Companies
8.7.5. Others
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Hemoglobin Monitor Demand Share Forecast, 2019-2026
9. Latin America Hemoglobin Monitor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Hemoglobin Monitor Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Hemoglobin Monitor Market Size and Volume Forecast by Applications
9.4.1. Clinical Diagnostics
9.4.2. Research & Development
9.4.3. Point-of-Care Testing
9.4.4. Home Use
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Latin America Hemoglobin Monitor Market Size and Volume Forecast by End Users
9.7.1. Hospitals & Healthcare Facilities
9.7.2. Clinical Laboratories
9.7.3. Research Institutions
9.7.4. Pharmaceutical Companies
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Hemoglobin Monitor Demand Share Forecast, 2019-2026
10. Europe Hemoglobin Monitor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Hemoglobin Monitor Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Hemoglobin Monitor Market Size and Volume Forecast by Applications
10.4.1. Clinical Diagnostics
10.4.2. Research & Development
10.4.3. Point-of-Care Testing
10.4.4. Home Use
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Europe Hemoglobin Monitor Market Size and Volume Forecast by End Users
10.7.1. Hospitals & Healthcare Facilities
10.7.2. Clinical Laboratories
10.7.3. Research Institutions
10.7.4. Pharmaceutical Companies
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Hemoglobin Monitor Demand Share Forecast, 2019-2026
11. Asia Pacific Hemoglobin Monitor Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Hemoglobin Monitor Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Hemoglobin Monitor Market Size and Volume Forecast by Applications
11.4.1. Clinical Diagnostics
11.4.2. Research & Development
11.4.3. Point-of-Care Testing
11.4.4. Home Use
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Asia Pacific Hemoglobin Monitor Market Size and Volume Forecast by End Users
11.7.1. Hospitals & Healthcare Facilities
11.7.2. Clinical Laboratories
11.7.3. Research Institutions
11.7.4. Pharmaceutical Companies
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Hemoglobin Monitor Demand Share Forecast, 2019-2026
12. Middle East & Africa Hemoglobin Monitor Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Hemoglobin Monitor Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Hemoglobin Monitor Market Size and Volume Forecast by Applications
12.4.1. Clinical Diagnostics
12.4.2. Research & Development
12.4.3. Point-of-Care Testing
12.4.4. Home Use
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Applications
12.6. Y-o-Y Growth Projections by Applications
12.7. Middle East & Africa Hemoglobin Monitor Market Size and Volume Forecast by End Users
12.7.1. Hospitals & Healthcare Facilities
12.7.2. Clinical Laboratories
12.7.3. Research Institutions
12.7.4. Pharmaceutical Companies
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Hemoglobin Monitor Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Hemoglobin Monitor Market: Market Share Analysis
13.2. Hemoglobin Monitor Distributors and Customers
13.3. Hemoglobin Monitor Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Bayer
13.4.2. Bosch
13.4.3. GE
13.4.4. Hill-Rom Holdings
13.4.5. Masimo
13.4.6. Medtronic
13.4.7. Nihon Kohden
13.4.8. Omron Healthcare
13.4.9. Philips
13.4.10. Siemens
13.4.11. Smith’s Group
Methodology
Related Reports
Some other reports from this category!
Our Clients
