Hematology Analyzer: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2020-2030

Market Definition

WBC, RBC, and platelet counts are performed using hematology analyzers. These are primarily utilized in medical biology analysis laboratories or hospitals to find hematology diseases and may also determine hemoglobin and hematocrit levels in the blood sample. These analyzers might be straightforward handheld devices, high-tech point-of-care diagnostic tools, or extremely intricate clinical laboratory analyzers. Pumps, syringes, motors, and tubing in the analyzer work with chemicals, optics, and software to provide doctors precise test results.

Market Insights

Hematology analyzers had a $3.56 billion market value in the world in 2022. During the forecast period, the market is anticipated to expand at a CAGR of 6.2%. Due to their frequent use in blood testing, reagents and consumables accounted for the highest share (65.8%) of the worldwide hematology analyzer market. Consumables and reagents account for a sizable portion of income for the majority of industry participants. Reagents made for 59.4% of total sales in 2021, making them more profitable than instruments, according to Sysmex.The instrument market expanded during the period under observation and is anticipated to increase at a CAGR of 4.8% through 2030. The rising incidence of chronic disorders, technological advantages and advantages over manual methods drive the segment’s growth.

The global market for hematology analyzers is dominated by North America. The primary driver propelling market expansion globally is the rising geriatric population with chronic disorders. Through early diagnosis and treatment monitoring, hematology analyzers can dramatically lower the incidence rates of chronic diseases.

During the predicted period, Asia-Pacific will experience the greatest CAGR (6.3%) growth. The ageing populations in China and Japan are to blame for this. The market expansion in this region is driven by the increasing prevalence of chronic diseases and unhealthy lifestyles. Additionally, government assistance for regional producers and numerous health programmes are anticipated to fuel regional market expansion.

Players in the hematology analyzer market have many prospects in the Asia-Pacific region, particularly in China and India. Players have opportunities because of the high population, the significant disease burden, and the undiscovered markets. Compared to markets in developed regions of the world, these markets are more price sensitive.

Depending on whether facilities are urban or rural, privately owned or government-affiliated, and on the size of the facility, India suffers large discrepancies in testing volume and criteria. The Indian government is working to raise healthcare standards in the country’s inland and rural areas.

Rural healthcare systems strive for high productivity and quick testing using quick and economical methods. on fiscal 2022–2023, the Indian government has budgeted around $11 billion on healthcare, with a focus on raising standards for primary healthcare facilities in rural areas. The top three hematology analyzer importers worldwide are India (24,969 ships), Vietnam (10,120 shipments), and Pakistan (3,127 shipments). Numerous businesses are vying for the Indian market.

To improve production, Nihon Kohden Corporation built a new hematology analyzer reagent facility in 2022. China is making substantial improvements to its healthcare infrastructure as its population ages. The need for testing is expanding. China modifies comprehensive medical fee reimbursements in an effort to reduce healthcare costs. This will probably have an effect on the quality, quantity, and cost growth aspirations of instrument manufacturers. In addition to smaller regional players, Mindray is a significant player in the nation. Important players are attempting to seize the sizable Chinese market, nevertheless.

The COVID-19 pandemic had a conflicting effect on the world market for hematology analyzers. Hematology systems are among the many short- and long-term effects of the pandemic on healthcare systems. Healthcare services were disrupted as a result of lockdowns and stay-at-home directives. The first decrease in yearly hospital admissions and well-person visits since decades was brought about by COVID-19. As a result, there was less demand for hematology goods and services. Indicating difficulty in getting care, the hospitalization rate unrelated to COVID-19 also considerably decreased.

Due to patients delaying hospital appointments, the COVID-19 pandemic resulted in decreased testing (other than COVID-19). Lower reagent sales in hematology were the result of this continued effect on testing volumes. Testing numbers started to increase in late 2021, with the exception of several emerging economies, as government limitations on travel became less onerous. Additionally, during the pandemic, outpatient visits significantly decreased. In all medical specialties, blood tests are the most frequently recommended test for identifying and monitoring disease.

Market Dynamics: Drivers

High Prevalence of Blood Disorders

Worldwide, vast populations are affected by blood problems. Anaemia and other blood diseases are more common in underdeveloped nations.

More than half a billion women between the ages of 15 and 49 experienced anaemia globally in 2019, according to the WHO. The prevalence was 29.6% in reproductive-age women who were not pregnant and 36.5% in those who were.

A total of 269 million children, or 39.8% of the world’s children aged 6 to 59 months, had anaemia in 2019. The African area has the highest frequency of anaemia among children under the age of five, at 60.2%.

Overproduction of a certain type of aberrant cell is a hallmark of blood malignancies. Leukaemia, multiple myeloma, and lymphoma are the three most prevalent blood malignancies. Globally, 1.24 million cases of blood cancer are diagnosed each year, making up around 6% of all cancer cases. Leukaemia now affects over 475 million additional individuals, and it is responsible for 311 million fatalities, according to GLOBACON 2020.

The body responds to infections extremely during sepsis. It’s a medical emergency that could endanger life. Between 47 and 50 million people worldwide are affected by sepsis each year, and at least 11 million die from it, with one fatality occurring every 2.8 seconds.

Market Dynamics: Challenges

High Cost of Hematology Analyzers

The main factor impeding market expansion is the cost of hematology analyzers. A typical five-part equipment can cost anywhere between $20,000 and $50,000, and reagent prices range from $1.5 to $3 each test, according to Boule Diagnostics. However, a three-part instrument may be purchased for less than $10,000, and each test only needs a single reagent.

Any hematology lab must include cellular and morphological analysis. Cell counts and differential leukocyte analysis are the two main uses for hematology analyzers. Additionally, these analyzers may report more parameters and give greater details. Hematology analyzer costs increased as a result of technological improvement and new capabilities. For instance, adding imaging software automation to the hematology lab can increase the price of a hematology analyzer by $85,000 to $140,000. Prices are lower in low and middle-income countries, but the initial capital investment is high, which is challenging for small-scale laboratories.

Market Segmentation

• Based on Type, the Global Hematology Analyzer market is segmented into
  • Reagents and consumables
  • Instruments
    • Five and six-part Hematology analyser
    • Three-part hematology analyser
    • Point-of-care testing hematology analysers
    • Semi-automatic hematology analysers
  • Services
• Based on End Use, the Global Hematology Analyzer market is segmented into
  • Diagnostic centers
  • Hospitals and clinics
  • Research institutes
  • Other end users
• Based on Geography, the Global Hematology Analyzer market is segmented into
  • Asia-Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

• All market revenue has been given in US Dollar.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Hematology Analyzer Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Hematology Analyzer Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Hematology Analyzer Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Hematology Analyzer Market study?