Oct 29, 2020   SOURCE: PR NewsWire

Hematology Testing Market Size to Reach Revenues of USD 5.4 Billion by 2025 - Arizton

CHICAGO, Oct. 29, 2020 /PRNewswire/ -- The global hematology testing market is expected to grow at a CAGR of approximately 5% during the period 2019-2025.

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Key Highlights Offered in the Report: 

    1. The US accounted for the major share of the global hematology testing
       market and likely to witness incremental growth of around USD 306 million
       during the forecast period.
    2. The consumables segment accounted for the major share in the market with
       incremental growth of more than USD 1 billion during the forecast period.
       Global players are focusing to partner with the regional players to
       produce the consumables for their respective brands.
    3. Hospitals accounted for the major share however the standard reference
       laboratory has the highest incremental growth of more than USD 500
       million with steady growth rate in the global hematology testing market
    4. In the testing segment, the routine tests accounted for the major share
       in the market and is expected to grow with incremental growth of more
       than USD 1 billion during the forecast period.
    5. APAC is the fastest growing region with a CAGR of over 7% and North
       America dominated the market with around 35% share in the global
       Hematology testing market.
    6. The demand for the automated hematology analyzers is increasing across
       the globe, there is a shift from the usage of semi-automated hematology
       analyzers to automated high throughput analyzers.

Key Offerings: 

    --  Market Size & Forecast by Revenue | 2019-2025
    --  Market Dynamics - Leading trends, growth drivers, restraints, and
        investment opportunities
    --  Market Segmentation - A detailed analysis by product, tests, end-users,
        and geography
    --  Competitive Landscape - 10 key vendors and 13 other vendors

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Hematology Testing Market - Segmentation

    --  The usage of a wide array of several reagents and test kits to perform
        hematology tests is increasing revenue opportunities for the consumables
        segment. The segment generates continuous revenue for vendors as their
        usage is recurring. Hence, several renowned key players are
        manufacturing consumables required for both in-house hematology
        analyzers and other healthcare settings.
    --  Routine hematology testing has emerged as a rapidly growing segment in
        the healthcare industry. The increasing prevalence of diseases and the
        growing awareness of regular healthcare examinations across the globe
        are the primary reasons for the growth of routine checkups and overall
        clinical laboratory testing.
    --  The hospitals end-user segment dominated the market in 2019 due to the
        high volume of hematological tests performed in these settings. The
        increase in the number of private hospitals, which have their own
        central laboratories performing a high volume of tests, is driving the
        segment growth.

Hematology Testing Market by Products 

    --  Instruments
    --  Consumables

Hematology Testing Market by Tests 

    --  Routine Tests
    --  Special Tests

Hematology Testing Market by End-user 

    --  Hospitals
    --  Standard Reference Laboratories
    --  Blood Banks
    --  Others

Hematology Testing Market - Dynamics

In recent years, the role of the laboratory in disease diagnosis and management has expanded, causing an overwhelming rise in testing demands. This is even applicable to hematology testing as the market is witnessing many novel innovations and technological breakthroughs in recent years. Further, to meet the increasing needs of hematology testing, analyzers and related consumables should not only deliver more clinical data than ever before but should also be easier to operate, alleviating overburdened cumbersome tasks of lab technicians. Vendors are responding to the unmet needs in hematology testing with technological evolutions in the areas of new product commercialization, clinic workflow, analytical advancements, and clinical information management. Globally, due to fast-moving product development, both niche manufacturers and large multinational companies introduced hematology analyzers and related consumables to provide unique solutions to evolving customer needs.

Key Drivers and Trends fueling Market Growth:

    --  Increase in Demand for Point of Care Hematology Testing
    --  Emergence of 6-Part Hematology Analyzers
    --  Paradigm Shift Towards Automated Hematology Testing
    --  Increase in Patient Pool Requiring Hematology Tests

Hematology Testing Market - Geography

North America is expected to retain its dominance by 2025. In 2019, the region accounted for a share of 35% in the global hematology testing market owing to the increasing rate of patients suffering from blood disorders such as sickle cell anemia, thalassemia, anemia, leukemia, among others. The high acceptance of innovative and advanced hematology instruments and the availability of skilled laboratory professionals to operate and handle the highly automated advanced hematology devices in the market have collectively supported North America's lead in the global market.

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Hematology Testing Market by Geography 

    --  North America
        --  US
        --  Canada
    --  Europe
        --  UK
        --  Germany
        --  France
        --  Italy
        --  Spain
    --  APAC
        --  China
        --  Japan
        --  India
        --  South Korea
        --  Australia
    --  Latin America
        --  Brazil
        --  Mexico
    --  Middle East & Africa
        --  Turkey
        --  Saudi Arabia
        --  South Africa

Major Vendors 

    --  Abbott
    --  Danaher
    --  Boule Diagnostics
    --  HORIBA
    --  Sysmex
    --  Shenzhen Mindray Bio-Medical Electronics
    --  Siemens Healthineers
    --  NIHON KOHDEN
    --  Diatron
    --  Bio-Rad Laboratories

Other Prominent Vendors 

    --  AGAPPE DIAGNOSTICS
    --  B&E BIO-TECHNOLOGY
    --  Balio Diagnostics
    --  CLINDIAG SYSTEMS
    --  Convergent Technologies
    --  CPC Diagnostics
    --  CPM Scientifica
    --  DIAGON
    --  Erba Diagnostics
    --  EDAN Instruments
    --  Genrui Biotech
    --  F.Hoffmann-La Roche
    --  High Technology

Explore our healthcare & lifesciences profile to know more about the industry.

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About Arizton:

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SOURCE Arizton Advisory & Intelligence