global hematology diagnostics market size is expected to reach USD 10.20 Billion in 2030 and register a revenue CAGR of 4.93% during the forecast period

NEW YORK CITY, NY, UNITED STATES, June 7, 2022 /EINPresswire.com/ -- The global hematology diagnostics market size is expected to reach USD 10.20 Billion in 2030 and register a revenue CAGR of 4.93% during the forecast period, according to latest report by Reports and Data. Demand for hematological diagnostics is expected to increase, owing to rising awareness about blood disorders among healthcare providers and patients, which is expected to drive market revenue growth over the forecast period.

Hematology diagnostic procedures are widely used to diagnose blood-related disorders such as anemia, blood cancer such as leukemia, and bleeding disorders such as blood clotting disorders and hemophilia. Apart from disease detection, hematology diagnostics aid in proper blood count and characterization of blood cells. The widely used hematology diagnostic systems include hemostasis, immunohematology, hematology reagents, and hematology rapid tests.

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Some Key Highlights from the Report:

Based on product type, the consumables segment is expected to account for largest revenue share and register the fastest growth rate during the forecast period, due to low manufacturing costs, increasing availability of consumables for certain analyzer tests, and increase in the number of tests needed by consumers. In hematology analyzers, consumables are utilized to lyse red blood cells from blood samples prior to leukocyte examination. Direct dependency of hematology tests on consumables is one of the main factors to drive revenue growth of the segment during the forecast period. Rising awareness about blood disorders among healthcare professionals and patients is also expected to increase demand for hematology analyzers and in turn, demand for consumables.

Based on test type, the full blood count testing segment is expected to register a significantly faster growth rate over the forecast period. Full blood count tests are useful for general evaluation of health during routine check-ups, and they evaluates three major components found in the blood - white blood cells, red blood cells, and platelets. Several conditions, such as anemia, allergy, vitamin and iron deficiencies, and infections, can be easily diagnosed with the help of these tests.

Based on end user, the hospitals & clinics segment is expected to register the fastest revenue CAGR over the forecast period. Hospitals & clinics segment is expected to lead in terms of revenue share over the forecast period, due to increase in demand for hematology diagnostics among individuals who require routine blood testing, such as diabetics and cancer patients. Moreover, This segment is expected to register a rapid growth rate, which can be attributed to a larger patient influx in hospitals as compared to other healthcare facilities and increasing number of registered hospitals across the globe.

The Asia-Pacific market is expected to register the fastest revenue growth rate in the global market during the forecast period. Rapid urbanization, increasing incidence of chronic diseases, such as cancer and hematological diseases, particularly in developing countries including India and China, and improving healthcare infrastructure are some major factors driving revenue growth of the market in Asia-Pacific. According to the National Institute of Cancer Prevention and Research (NICPR), over 1.1 million cancer cases are recorded in India each year. Thus, high prevalence of cancer in various countries in the region is expected to increase demand for hematology diagnostics in Asia-Pacific.
Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Hematology Diagnostics market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Abbott Laboratories, Beckman Coulter, Inc., Ortho Clinical Diagnostics, Siemens Healthineers, Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., Mindray Medical International Limited, Drew Scientific Inc., Bio-Rad Laboratories Inc., HemoCue AB, Horiba Ltd., EKF Diagnostics, and Nihon Kohden Corporation, among others.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Hematology Diagnostics Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

Instruments
Consumables

Test Type Outlook (Revenue, USD Billion; 2019-2030)

Full Blood Count Testing
Hemoglobin Testing
Blood Glucose Testing
Renal Profiling
Vitamin B12 Deficiency Testing
Others

Regional Outlook:

• North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)

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