Global Hematology Market: Segmented by Products (Hematology Analyzers, Flow Cytometers, Coagulation Analyzers, Slide Stainers, Centrifuges, Hemoglobinometers and Other Products), by Reagents (Coagulation Reagents, Flow Cytometery Reagents, Immuno-hematology Reagents and Other Reagents),by End User (Hospitals, Clinical Testing Institutes, Patient Self-testing and Other End Users) and by Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America) – Growth, Trends, and Forecasts (2019 – 2028)
The global hematology market size stood at around USD 4.5 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Blood disorders have become a global health issue with different causes, and are associated with high mortality. Blood disorders, such as anaemia, blood cancer, haemorrhagic conditions, and blood infections, affect millions of people each year across all age groups. According to WHO, haemoglobin disorders are potentially affecting 75% of births, globally, and sickle cell trait affects an estimated one in 12 African Americans. Over 70% of all sickle-cell affected births occur in Africa. Early diagnosis and treatment are the best ways to protect the quality of life for a patient with blood cell disorder.
Market Drivers and Restraints
Rising incidence of blood cancer is a major factor contributing to growth of the market. For instance, according to GLOBOCAN 2018, more than 1.85 million new blood cancer cases are expected to be diagnosed in 2040 across the globe. Moreover, increasing incidence of hemophilia and sickle-cell anemia is expected to drive growth of the global hematology market. Rapid technological advances in hematology also drives the market growth.
High cost of the instruments and low adoption of hematology analyzers in emerging economies does restraint the market growth. Stringent regulatory and reimbursement policies on product launches, as well as product recalls due to safety violation are projected to hamper growth of the market over the forecast period.
Major Hematology Market (by Application)
Based on Hematology market by application, these are sub segmented into infectious diseases, cancer, cardiovascular disorders, blood screening, diabetes, HIV and auto-immune diseases. The infectious disease application segment leads with highest shares of the market due to increasing incidences of various health disorders. Also, the rise in healthcare centers spending is making the shares of the market expand in foreseen years.
1. Global Hematology Market Overview……………………………………………… A. Market Size 2. Market Growth Drivers and Restraints..………………………………..………. A. Market Drivers I. Increasing Incidences of Blood Disorders and Other Diseases II. Rapid Technological Advances in Hematology B. Market Restraints I. High Cost of the Instruments II. Low Adoption of Hematology Analyzers in Emerging Economies 3. Major Hematology Market (by Application)…………………….……………….. A. Infectious Diseases B. Cancer C. Cardiovascular Disorders D. Blood Screening E. Diabetes F. HIV G. Auto-immune Disease 4. Hematology Market Segmentation……………..……………………………………… A. By Product I. Hematology Analyzers II. Flow Cytometers III. Coagulation Analyzers IV. Slide Stainers V. Hemoglobinometers VI. Others Products B. By End User I. Hospitals II. Clinical Testing Institutes III. Patient Self-testing IV. Other End Users C. By Geography I. North America Market Analysis II. Europe Market Analysis III. Asia-Pacific Market Analysis IV. Middle-East and Africa Market Analysis 5. Hematology Major Products Market Share…………………………………….. A. Key Findings B. Market Analysis, Insights and Forecast 6. Competitive Landscape………………………………………………………….…. A. Major Players B. Products in Pipeline 7. Key Company Profiles…………………………………………………………………. A. Abbott Company overview, Product & Services, Strategies & Financials B. Agilent Company overview, Product & Services, Strategies & Financials C. Bio-Rad AG Company, Product & Services, Strategies & Financials 8. Healthcare Policies and Regulatory Landscape…………………………..……. A. Policy changes and Market Regulations 9. Factors Driving Future Growth……………………………………………………… A. Key Industry Developments in market B. Future Opportunities 10. Conclusion
On basis of Product, the Hematology market is sub-segmented into hematology analyzers, hematology reagents, glow cytometers, hematology cell counters, slide stainers, coagulation analysers, hematology testing, centrifuges, hemoglobinometers and others.
Based on product, Hematology Analysers product type is holding prominent shares of the market. Increasing incidences of road accidents due to which there is a rise in the demand to store blood, which can be used in emergency cases, significantly influences the growth of the market.
By End User
The Hematology market is segmented by end user which is further sub-segmented into hospitals, clinical testing institutes, patient self-testing and other end-users.
The patient self-testing segment, under end user is expected to grow at the fastest rate, during the forecast period. The patient self-testing segment is projected to show significant growth during the forecast period, owing to the growing cases of hematology disorders, such as anemia and iron deficiency, as well as infectious diseases.
The North American region holds the largest market share of the hematology market, and is expected to follow the same trend over the forecast period. North America is the largest market for hematology analyzers. This market trend can be attributed to the increasing incidence of blood disorders. The increasing cases of blood-related disorders, such as anemia, blood cancer, etc., may lead to the growth of the hematology market.
Asia Pacific is expected to register the fastest CAGR. The rise in per capita income leading to increased adoption of diagnostic and therapy products coupled with government initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.
Top 5 Major Players
The global market is highly competitive. Some key industry participants include Abbott Laboratories, Agilent Technologies Inc, Bio-Rad Laboratories Inc., Danaher Corporation and F. Hoffmann-La Roche Ltd . The companies are implementing certain strategic initiatives, such as mergers, new product launches, acquisitions, and partnerships, which help them in strengthening their market position.
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