April 20, 2024
Hematology Analyzer Market

Hematology Analyzer Market Is Trending Towards Point of Care Testing

Hematology analyzers are medical devices used to test and count blood cell parameters automatically. These analyzers provide a complete blood count by measuring red blood cells, white blood cells, platelets, and other cell parameters. Hematology analyzers offer faster and accurate diagnosis than manual methods. They are widely used in hospitals, diagnostic laboratories, blood banks, and other healthcare settings to test blood samples. Advantages of hematology analyzers include high throughput capabilities, reduced turnaround time for test results, user-friendly interfaces, and ability to perform multiple tests in a single run. The growing demand for automated diagnostic tools and shortage of pathologists are driving the adoption of hematology analyzers in the healthcare industry.

The Global Hematology Analyzer Market is estimated to be valued at US$ 8.07 Bn in 2024 and is expected to exhibit a CAGR of 7.3% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Hematology Analyzer market are Boule Diagnostics AB, Bio-Rad Laboratories, Danaher Corporation, Sysmex, Horiba Medical, Nihon Kohden Corporation, Siemens AG, Shenzhen Mindray Bio-Medical Electronics Co., Ltd, Abbott, Drew Scientific, Diatron, EKF Diagnostics, F. Hoffmann-La Roche Ltd, Cormay Diagnostics, AGD Biomedicals, Pioneer Impex, BIOGENIX INC. PVT. LTD, and Drucker Diagnostics.

The growing geriatric population and increasing prevalence of blood disorders and diseases are fueling the demand for Hematology Analyser Market Size globally. As per WHO, approximately 17 million people die annually from cardiovascular diseases, mainly from heart attack and stroke. Hematology analyzers aid in faster diagnosis and facilitate timely treatment of such diseases.

Leading analyzer manufacturers are expanding their presence in emerging markets like Asia Pacific, Latin America, and Middle East & Africa. Increasing healthcare investments, favorable reimbursement policies, and rising awareness about advanced diagnostic technologies are boosting the adoption of automated hematology solutions in developing regions.

Market Key Trends

One of the key trends gaining traction in the Hematology Analyzer Market is the shift towards point of care (POC) testing. Portable, compact analyzers compatible with whole blood and capillary samples are enabling tests to be performed near the patient bedside or in physicians’ clinics and emergency rooms. This reduces turnaround time significantly and aids faster clinical decision making. POC hematology analyzers help deliver lab-quality results even in remote settings with basic infrastructures. Major players have launched tables tops, cartridge-based, and handheld hematology analyzers to capitalize on the growing demand for POC testing globally.

Porter’s Analysis
Threat of new entrants: High capital requirement and strong brand loyalty act as entry barriers.
Bargaining power of buyers: Large customer base and availability of substitutes increases buyers bargaining power.
Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitutes and global sourcing options.
Threat of new substitutes: Growing demand for point-of-care testing and home diagnostics poses substitute threat.
Competitive rivalry: Strong competition between global players leads to continuous technological innovations.

The geographical region where the hematology analyzer market in terms of value is concentrated is North America. North America accounts for the largest share of the hematology analyzer market owing to rising prevalence of blood disorders, favorable reimbursement policies, and growing trend of point-of-care testing.

The Asia Pacific region is poised to witness the fastest growth in the hematology analyzer market during the forecast period. Factors such as large patient population, growing awareness about hematology testing, improving healthcare infrastructure, rising disposable incomes, and increasing penetration of health insurance will support the growth of the hematology analyzer market in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it